Business News: Guidewire, Verisk, HomeCare Connect

Guidewire Software, Inc., a provider of software to the Property & Casualty (P&C) insurance industry, announced it has completed the acquisition of ISCS. The company also announced the immediate availability of Guidewire InsuranceNow, a cloud-based, all-in-one solution that supports the P&C insurance lifecycle.

As an all-in-one system, InsuranceNow includes key core functionality for policy administration, billing, and claims management. It also includes data and digital functionality, such as agent access and consumer portals, document management, reinsurance, business intelligence, and producer management, within a single system.

Key InsuranceNow attributes and benefits include:

• Cloud-based delivery and ongoing operational support frees insurers to focus on innovation and respond rapidly to market demands, even when they have limited IT support;
• Functionality that supports data and analytics and digital engagement in addition to core operations, delivering an all-in-one integrated solution and resulting in less complexity for insurers;
• An integrated design and guided implementation approach for shorter project timeframes and quicker upgrades; and
• A common user interface and fewer login screens that simplify the system login process, reduce training times, and improve collaboration between agents, insurers, employees, and partners.

Verisk Analytics, Inc., a data analytics provider, has signed an agreement to acquire Fintellix, a Bangalore-based data solutions company specializing in the development of data management platforms and regulatory reporting solutions for financial institutions. Fintellix will become part of Argus, a Verisk Analytics business.

The transaction is subject to the completion of customary closing conditions.

In a separate announcement, Verisk announced its acquisition of Emergent Network Intelligence (ENI), an innovator in insurance claims efficiency and fraud detection solutions based in Newcastle upon Tyne, United Kingdom.

With the acquisition of ENI, Verisk’s clients in the U.K. can take advantage of technologically advanced tools that allow them to improve motor claims workflow and reduce their costs and exposure to fraud.

Fla.-based HomeCare Connect, which manages the quality and cost of workers’ compensation home healthcare, is integrating telehealth capabilities into its services.

Accessible via mobile telephones, computers and tablets, HomeCare Connect’s Tele-Connect is a cloud-based application that enables injured employees and their home health caregivers to meet virtually with HomeCare Connect’s clinical care coordinators to discuss treatment.

Providing telehealth services at no additional charge to customers, HomeCare Connect will use the application to clarify treatment, educate injured employees, monitor the use of durable medical equipment, and help amputees adjust to prosthetics. Tele-Connect will also be used to take adjusters on virtual walk-throughs before, during and after home modifications.