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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Apollo Managing General Agency Leverages Guidewire Predict to Enhance Pricing Capabilities for Business Profitability and Growth

Apollo Managing General Agency, LLC (Apollo), a provider of non-standard personal automobile insurance through independent agents in the state of Texas, and Guidewire (NYSE: GWRE) announced that Apollo is leveraging Guidewire Predict to segment risks by their impact on loss ratio to better compete in the Texas auto insurance market.

Apollo MGA services a higher risk segment of the population in Texas and was looking to leverage advanced analytics to power the next stage of profitable growth. Therefore, analytics is now a pivotal focus of the company’s business. Apollo dives deep into its data on a daily basis and it wanted to stay ahead of the curve and make sure it had the right tools to slice-n-dice the data to find real indicators of profits and profitable pockets of risks. The company engaged the Guidewire Analytics Services team to build a rate adjustment model using an ensemble of decision trees that helps segment risks by their impact on the loss ratio. Apollo believes the model will shrink the segments that negatively affect the loss ratio the most and expand the segments with good risks, resulting in improved underwriting profitability. As the company learns more about Predict, it plans to expand usage with claims modeling.

“We are proud of our focus on the non-standard personal auto insurance market in Texas and serving drivers who are not able to purchase insurance anywhere else,” said Greg Corbitt, Vice President, Product Management, Apollo. “Predict really goes deep into our data that traditional tools were never able to open, helping us adapt to changing market trends such as inflation and the Texas Department of Insurance’s rate changes. We will be able to offer a more competitive price to many customers, while simultaneously increasing overall profitability and continuing to stay ahead of our competition.”

“Oftentimes, our customers like to stay under the radar. Trying to get those risks priced appropriately can be difficult,” said Rachel Norris, Product Manager, Apollo. “We chose Guidewire Predict because it helps us find all the variables that matter in our books and being able to make those combinations and price them correctly is so important for us to get at the very beginning of the process.”

Roger Arnemann, Senior Vice President and General Manager, Analytics, Guidewire said, “We are excited to support Apollo’s use of analytics to serve their customers. Our mission is to help insurers accurately price policies in a way that allows them to offer more policies and more coverage to more customers, allowing customers to live, work, and play with the confidence that they are covered.”

About Apollo Managing General Agency, LLC

Apollo Managing General Agency was formed in 2013, specializing in Non-standard Personal Automobile Insurance through Independent Agents in the State of Texas.

Apollo MGA brings many years of expertise in the Non-standard marketplace. We are committed to providing exceptional customer service and timely claim handling to ensure our shared customers are satisfied with the service received from Apollo Managing General Agency.

For more information, visit https://www.apollogroup.info/.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, 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.

For more information, please visit http://www.guidewire.com/ and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

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