Guidewire and RiskStream Unite: Revolutionizing the Insurance Landscape with RAPID X Technology

Laura Drabik, Guidewire’s Chief Evangelist, produced a great video illustrating RiskStream’s RAPID X first notice of loss application for personal auto claims. A RAPID X Guidewire integration is available in the Guidewire Application Marketplace. Laura states,

"The global market for blockchain in P&C insurance is expected to top $32.9 billion by 2031—a CAGR of 52.4%.

By creating a single source of truth, blockchain-based "smart contracts" enable real-time data collection, sharing, and analysis that can reduce fraud, accelerate claims processes, and save the industry $200 billion per year.

Here’s an easy-to-understand primer [the video] on what it is, how it works and what it means to P&C insurers. We even included a snippet of our integration with The Institutes RiskStream Collaborative."