MyChoice Named to Guidewire Insurtech Vanguards Program
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insurtechtechnical
Insurtech is the use of technology to improve and innovate the insurance industry. It involves developing digital tools and platforms that make buying, managing, and claiming insurance easier, faster, and more personalized—similar to how online banking transformed traditional banking services. For investors, insurtech represents an opportunity to support companies that are changing how insurance works and potentially capturing new markets through innovation.
underwritingfinancial
Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.
property and casualty (P&C)technical
Property and casualty (P&C) insurance covers risks related to damage to or loss of physical property, such as homes, cars, or businesses, as well as liability for injuries or damage caused to others. It matters to investors because companies in this sector earn premiums by providing protection, and their financial health depends on managing these risks effectively. Well-performing P&C firms can offer stable income streams and resilience in changing economic conditions.
straight-through processingtechnical
Straight-through processing is an automated workflow that completes financial transactions from start to finish without manual intervention, like a self-service checkout that scans, charges, and bags items automatically. It matters to investors because it reduces mistakes, speeds up settlement, lowers operating costs and counterparty risk, and helps firms scale their business more efficiently — all of which can improve profit margins and reliability.
TORONTO--(BUSINESS WIRE)--
MyChoice, a Canadian insurtech improving submission quality and underwriting confidence in the broker and carrier channels, announced that the company has joined the Guidewire Insurtech Vanguards program, an initiative led by property and casualty (P&C) cloud platform provider, Guidewire (NYSE: GWRE), to help insurers learn about the newest insurtechs and how to best leverage them.
“Brokers and carriers lose time and margin when submissions are complete on paper but unreliable in reality. We built MyChoice to reconcile quoted risk data against source-of-truth signals and the supporting evidence already exchanged in the workflow so underwriters see true exceptions, not noise,” said Aren Mirzaian, CEO and Co-Founder of MyChoice. “Joining Guidewire Insurtech Vanguards is an important step as we help carriers using Guidewire PolicyCenter improve profitability, submission trust, reduce premium leakage, and accelerate binding without disrupting broker quoting.”
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 connecting them with the Guidewire P&C customer community.
“Guidewire created the Insurtech Vanguards program to help insurers discover innovative technologies that can drive measurable outcomes across the P&C value chain,” said Laura Drabik, Chief Evangelist of Guidewire. “MyChoice brings a practical approach to improving submission trust and evidence quality in the broker–carrier channel, and we’re pleased to welcome them into the Insurtech Vanguards community.”
MyChoice delivers explainable “PASS / CAUTION / FAIL” outcomes with reason codes, confidence indicators, evidence completeness status, and standardized underwriting notes–supporting straight-through processing for clean submissions and faster resolution of true exceptions for underwriters and operations teams.
About MyChoice
MyChoice is a Toronto-based insurtech helping brokers and carriers improve submission quality and underwriting confidence. MyChoice improves operational efficiency, accelerates binding, and helps improve carrier loss ratios without disrupting quoting workflows or replacing core systems.
