Who’s using what in P&C insurance: Oct. 9, 2017

"By infusing digital into everything we do, we are transforming the customer experience," Marty Lippert, executive vice president and head of technology and operations for MetLife, said in a press release about the MetLife Auto & Home deployment of Guidewire’s InsurancePlatform™. (Photo: iStock)

Guidewire Software, Inc. has entered into a definitive agreement to acquire Cyence, a software company that applies data science and risk analytics to enable P&C insurers to grow by underwriting “21st century risks” that have gone underinsured or uninsured. These emerging risks include cyber, reputation, and new forms of business interruption risk. “As traditional actuarial approaches struggle to address the unique characteristics of emerging risks like cyber, Cyence’s next-generation approach will enable insurers to broaden the scope and value of the products their policyholders need,” , Guidewire Software CEO and Co-Founder Marcus Ryu said in a press release.