Adyen has joined the Guidewire Marketplace as a global payment partner for insurers. The integration is expected to launch globally in 2027.
It will connect Adyen’s payment infrastructure with Guidewire’s core systems for property and casualty insurers.
Insurers will be able to collect premiums through cards, automated clearing house transfers and local payment methods.
The integration will also support recurring payment retries and claims payouts through bank transfers and virtual cards.
The setup will allow insurers to manage payments across different markets through a single platform instead of relying on separate regional setups.
It will cover payment acceptance, financial routing, clearing and settlement.
Insurers will also gain access to centralised transaction reporting and automated reconciliation.
Other features include machine learning-based fraud detection and tokenisation to protect stored card details.
Adrian Davis, Managing Director for Financial Services and Insurance at Adyen, said,
“By launching our exciting integration on the Guidewire Marketplace, we are building upon the strong market leadership in the Insurance market that we’ve scaled in recent years. What differentiates Adyen is that we aren’t just a software connection; we own the underlying financial infrastructure.
As a global platform with our own banking licenses, we manage the full money movement stack end-to-end which ensures Guidewire’s customers easily offer whatever payment method their policyholders prefer, effectively turning payments from a legacy hurdle into a strategic advantage for growth.”
The integration will be available to insurers across North America, Europe, Latin America and Asia Pacific. Guidewire serves more than 570 insurers in 43 countries.
Guidewire customers will be able to implement the standardised integration through a global systems integrator or their internal technology teams.
Featured image: Edited by Fintech News Singapore, based on image by dit26978 via Magnific
