New integrated solution allows P&C insurers to streamline their records retrieval process and enhance operational efficiencies
Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that Compex Legal Services, Inc. (Compex), a provider of record retrieval services for insurers, has joined Guidewire PartnerConnect as a Solution partner. The companies also announced that Compex’s new Ready for Guidewire validated add-on is now available to insurers in the Guidewire Marketplace.
For claimants, speed is of the utmost importance when it comes to claims handling. According to a McKinsey report on Digital Disruption in Insurance, higher customer satisfaction, driven by the improved service and faster processing times, is itself a driver of profit through increased customer retention, as automation can reduce the cost of a claims journey by as much as 30 percent. With speed and efficiency of claims resolution being so important to policyholders, insurers are looking for ways to improve the claims handling process.
The Compex integration for record retrieval provides insurers with the ability to order any type of records required for a claim within ClaimCenter. This reduces adjusters’ manual labor and time spent obtaining records. Compex’s record retrieval solution manages the process end-to-end, supporting a shift to lower touch claims, reducing cycle time and costs for insurers.
Without leaving ClaimCenter, insurers using the Compex Ready for Guidewire add-on can securely:
Order records with prepopulated claim information and view the real-time status of these orders
Receive and view ordered records and x-ray films directly in the claim file
Communicate with and request additional time-saving services from Compex
Send records and films to essential third parties for review
"Compex is proud to partner with Guidewire to provide an innovative solution that will drive efficiency and effectiveness for insurance companies," said Paul Boroditsch, CEO, Compex Legal Services. "Our objective is to make life easier for adjusters, allowing them to focus on settling claims, by reducing the time and effort required to resolve a claim, and improving the bottom line for insurance carriers."
"We are excited to welcome Compex Legal to the Guidewire PartnerConnect ecosystem and congratulate them on the release of their solution in our marketplace," said Neil Betteridge, vice president, Strategy, Guidewire Software. "We are pleased to offer our shared customers access to this high-quality, cost-effective records retrieval solution integrated seamlessly in ClaimCenter, to support an efficient process."
About Compex Legal Services, Inc.
Compex is the nation’s leading record retrieval partner serving insurance carriers and law firms to provide record retrieval, summarization, and IME interface solutions. Our security, technology, geographical coverage, scalability, customer service, and over 45 years of experience in the industry makes Compex the top choice in the industry. For more information, please visit www.compexlegal.com.
About Guidewire PartnerConnect ecosystem and Ready for Guidewire
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 AI to deliver our platform as a cloud service. More than 400 insurers, 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 1,000+ 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.
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/20201008005194/en/
Senior Public Relations Manager
Guidewire Software, Inc.
Director of Marketing & Strategic Partnerships
Compex Legal Services, Inc.