Guidewire (NYSE: GWRE) and VIP Software™ announced that VIP Software’s new Ready for Guidewire validated accelerator is now available to ClaimCenter users in the Guidewire Marketplace.

VIP Software is a leading billing and vendor management platform that helps insurers proactively manage loss costs and reduce claims leakage through automation and analytics. Its BAP™ solution enables insurers to automate the creation and approval of vendor invoices, auditing all invoices against fee schedules. It also automatically allocates all loss adjustment expenses to the proper claim files.

With the VIP Software BAP Accelerator for ClaimCenter, insurers can:

• Reduce manual processes with automatic data transfer between ClaimCenter and VIP Software;
• Automatically create vendor invoices leveraging contracted fee schedules to facilitate accurate, quick payment and prevent late loss cost development; and
• Improve straight-through-processing, leading to reduced operational costs.

VIP Software can also serve as a conduit, connecting multiple systems and further streamlining vendor management processes for insurers.

“Our technology standardizes billing and vendor management for insurers, enabling them to streamline validation, audit, reconciliation, and allocation processes for their vendor billing,” said Artie Makris, Vice President, Marketing, VIP Software. “The VIP Software accelerator empowers our shared customers to manage vendors and loss costs across all lines of business, all without leaving ClaimCenter.”

“Congratulations to VIP Software on the release of its new ClaimCenter integration,” said Will Murphy, Vice President, Global Technology Alliances, Guidewire. “VIP Software provides a proactive solution that helps strengthen insurer-vendor relationships by providing transparency and consistency through technology, without the need for manual intervention. We look forward to seeing our shared customers reap the benefits of our partnership with VIP Software.”

About VIP Software

VIP Software is the leading loss cost platform for insurers, offering billing automation and access to industry data for vendor pricing and performance. With a mission to streamline vendor management processes, VIP Software empowers insurers to make informed decisions and drive operational excellence.

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewire’s solution ecosystem is the largest in the P&C industry, with over 205 solution partners providing over 250 integrations in the Guidewire Marketplace. Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on the Guidewire Marketplace.

For more information about Guidewire PartnerConnect, please visit http://www.guidewire.com/partners.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with more than 1,600 successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on X (formerly known as Twitter) and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240507716193/en/