Guidewire Software, Inc. has announced the acquisition of FirstBest Systems, Inc., a provider of underwriting management software to P&C insurers.

The addition enables Guidewire to offer its specialty insurance customers greater support in assessing risk, according to the company. Currently, underwriters rely too heavily on manual processes and spend a majority of their day gathering and reviewing data. FirstBest’s underwriting management system will enhance submission intake, risk analysis and improve the collaboration capabilities of policy administration systems, it said.

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