Guidewire
A software company that provides technology platforms for the global property and casualty (P&C) insurance industry.
In 2023, modelled wildfire risk in California using 64MM scenarios instead of a more typical <1MM distribution, improving Value at Risk (VAR)
Challenges
Solution
Results
Learning how to go beyond classical Monte Carlo to more granularly predict cash reserve needs to improve pricing and investment capacity
Worked with BlueQubit to simulate a 41-qubit quantum computer and 16TB tensor network with a mix of CPUs and GPUs on AWS
A 1.2% improvement over 5th percentile VAR, and 4% improvement on Conditional VAR, which insurers could use to invest freed up capital
Challenges
Learning how to go beyond classical Monte Carlo to more granularly predict cash reserve needs to improve pricing and investment capacity
Solution
Worked with BlueQubit to simulate a 41-qubit quantum computer and 16TB tensor network with a mix of CPUs and GPUs on AWS
Results
A 1.2% improvement over 5th percentile VAR, and 4% improvement on Conditional VAR, which insurers could use to invest freed up capital
“Guidewire and BlueQubit partnered together in an endeavor to translate real-world challenges into finding practical applications for Quantum Computers to address prevalent issues in P&C Insurance.” Lewis Guignard - Director of Data Science Solutions