SAN FRANCISCO, Calif., March 29th, 2022 - Annex Risk, an API-based digital delivery layer focused on catastrophe risk, is thrilled to join Guidewire’s Insurtech Vanguards program. As the leading property and casualty (P&C) cloud platform provider, Guidewire (NYSE: GWRE) has become a nexus for innovators like Annex Risk to engage and partner with leading insurers to tackle the biggest opportunities in P&C insurance.
“Guidewire is one of the original insurtechs, so it’s fitting that the Guidewire team is partnering with the next generation of innovative companies that are driving the P&C industry forward,” said Charlie Sido, chief executive officer of San Francisco-based Annex Risk. “Annex Risk’s unique API-first approach to embedding flood and earthquake coverage at the point of sale complements Guidewire’s ecosystem of cloud-based service providers and carrier partners.”
Insurtech Vanguards is a community of select startups and technology providers that are bringing novel solutions to the P&C industry. As part of the program, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while also connecting them to Guidewire’s P&C customers.
“There were billions of dollars of uninsured residential flood losses during Hurricane Ida in September 2021,” said Laura Drabik, chief evangelist at Guidewire. “Annex Risk is playing a critical role in simplifying and modernizing the sale of coverages like flood insurance, enhancing the resilience of carriers, homeowners, and the financial system as a whole. As part of the Insurtech Vanguard program, Annex Risk will be able to educate Guidewire and its P&C customers on the opportunities to offer flood, earthquake, and other natural catastrophe coverage seamlessly bundled with homeowners insurance. In collaboration with Guidewire, Annex Risk is taking critical strides in helping the P&C industry close the coverage gap.”
About Annex Risk
Annex Risk’s APIs enable insurance retailers to offer comparison shopped, digitally bindable flood and earthquake insurance. Whether as part of a homeowners insurance transaction or on a standalone basis, Annex Risk’s digital marketplace features more than a half-dozen private market providers along with the National Flood Insurance Program (NFIP), all available via a single API integration. With NFIP premiums set to increase with the full launch of Risk Rating 2.0 on April 1st, 2022, Annex Risk is building the modern technology layer to match customers with coverage, all while leaving the underwriting to the flood markets that know it best. Visit https://www.annexrisk.com to learn more.