Instabase, the automation platform for unstructured data, announced that the company has joined Guidewire’s Insurtech Vanguards program, a new initiative led by property and casualty (P&C) cloud platform provider Guidewire, to help insurers learn about the newest insurtechs and how to best leverage them.
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“As insurance continues to transform and be a major focus globally, at Instabase we are thrilled to partner with a leader like Guidewire to accelerate value end-to-end for carriers.”
“Strategic partnerships are a key growth lever for our business this year as we expand rapidly into new markets and unlock new ways to improve overall time to value for our customers,” said Joe Ramieri, vice president of growth, Instabase. “As insurance continues to transform and be a major focus globally, at Instabase we are thrilled to partner with a leader like Guidewire to accelerate value end-to-end for carriers.”
Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry. As part of the program, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while connecting them with Guidewire’s P&C customers.
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“Instabase provides document-understanding capabilities based on deep learning, a type of machine learning that imitates the way humans gain certain types of knowledge, that can help insurers unlock unstructured data,” said Laura Drabik, chief evangelist, Guidewire. “We are thrilled to welcome Instabase to our program so our mutual customers can leverage deep learning when transforming document-related business processes.”
Instabase’s innovative automation platform is a deep learning ecosystem that provides a selection of proprietary and best-in-class models to achieve unprecedented accuracy and keep Instabase solutions continually synchronized with the latest innovation. Instabase can ingest submissions wherever they come from – by email or other systems – then takes the full broker submission, including the original broker presentation, schedule of values, and claims history, and extracts relevant information for further processing. Instabase performs the same function with claims processing, helping to reduce cycle times for customer journeys and reducing processing costs.
Instabase provides an enhanced visual development environment with low-code and pro-code building blocks to rapidly configure and extend solutions across multiple use cases that include submissions and claims processing.
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