LEAWOOD, Kan., Oct. 13, 2022 /PRNewswire/ -- Torch.AI, Pioneers of Data Infrastructure AI(TM), announced today the company has joined Insurtech Vanguards, an initiative led by Guidewire (NYSE: GWRE), a leading Property & Casualty (P&C) cloud platform provider. With this, Torch.AI will bring data and artificial intelligence (AI) capabilities to insurance organizations across the insurance value chain.
Guidewire's Insurtech Vanguards program is an initiative to help insurers learn about solutions from leading insurtechs and how to best work with them. As part of the program, Torch.AI joins one of the most reputable software providers in the insurance industry today to bring unique enterprise-level data infrastructure technology to a large and growing network of Guidewire customers and partners.
"The large majority of insurance organizations today have not been able to optimize data usage across the business, still relying on error-prone, manual processes and complex point solutions," says Jason Eidam, Torch.AI's VP of Commercial Markets. "We're excited to join Guidewire's Insurtech Vanguards Program and do our part in advancing an industry ready to make the jump towards new, game-changing solutions."
Torch.AI's insurance solutions are already proven in helping generate time savings of nearly 85% for their existing customers while also reducing risk and informing improved analytical capabilities currently hampered by mundane, manual-heavy workloads. Their Data Infrastructure AI issues a connective data layer that has been optimized to address enterprise-level data challenges across brokers and MGAs, carriers, and insurance operations, risk, and innovation teams.
"Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry," said Laura Drabik, Chief Evangelist, Guidewire. "We are excited to welcome Torch.AI to this group of trendsetting insurtechs."
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.
Torch.AI, the Data Infrastructure AI Pioneers(TM), are headquartered in Kansas City with offices in Washington, DC. The company developed the use of AI to process data in-flight, radically evolving analytic and operational capabilities in any IT environment. Torch.AI's products and people are currently actively supporting operations in industries including financial services & insurance, construction and engineering, healthcare, and the US Department of Defense, US Department of Homeland Security, and other agencies.
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