Guidewire Insurance Platform Hits the Marketplace
Staff Writer | June 20, 2016
Guidewire Software announces the new release of the Guidewire Insurance Platform, which combines core operations, data and analytics, and digital engagement to enhance insurers’ ability to respond to industry changes and better engage and empower their customers, agents, and employees. Enhancements across the insurance platform reflect input from Guidewire’s 200-plus customer community and enable insurers to improve agility and insight, optimize product offerings, streamline processes, and promote customer centricity.
“Property & Casualty insurers have faced more change in the last few years than in the previous few decades and the pace of change is set to accelerate,” says Scott Roza, chief business officer, Guidewire Software. “It’s incumbent upon the Guidewire team to keep evolving our products to ensure our customers can adapt and succeed in this dynamic environment. We’re thankful for the insight and guidance that our engaged customer community has shared with us.”
“This release, an important milestone in our journey, features the simultaneous availability of new versions of our core, data, and digital products delivered as a unified whole,” says Ali Kheirolomoom, chief product officer, Guidewire Software. “And we’ve designed our platform to provide integrated experiences across the insurance lifecycle for specific user personas such as the underwriter, agent, claims adjuster, and IT professional. Additionally, InsuranceSuite 9 has been designed for public cloud deployment by our customers and partners.”
The latest release of the Guidewire Insurance Platform features new versions of InsuranceSuite, Digital Portals, DataHub, and InfoCenter. Key enhancements by product family include:
Guidewire InsuranceSuite comprised of PolicyCenter, ClaimCenter, and BillingCenter supports insurers‘ core operations—underwriting, policy administration, billing, and claims management— across all lines of business. InsuranceSuite 9 enhancements include:
- Designed for cloud deployment, providing customers and Guidewire partners with flexible deployment options in private, public, or hybrid cloud environments.
- Visual configuration capabilities so that more system behavior, such as underwriting rules, can be made quickly and easily;
- Tailored user experience for the underwriter with integration across PolicyCenter and Spotlight, a Guidewire-hosted analytics application that enables more accurate and consistent property risk assessment;
- Claims straight-through invoice processing, so adjusters can manage by exception and claims vendors receive payments more quickly; and
- User-friendly Account and Policy Summary screens for fast, informed billing service to policyholders, and Equity Warnings to ensure sound business practices.
Data and Analytics
Guidewire Data and Analytics, comprised of DataHub, InfoCenter, and Predictive Analytics, provides insurers with a Property/Casualty industry specific data store, business intelligence warehouse, and cloud predictive analytics products for claims and profitability. DataHub 9 and InfoCenter 9 enhancements include:
- Foundation tooling to automate and expedite delivery of data to DataHub starting with BillingCenter, speeding business users’ time to analysis while lowering IT’s cost of development.
- Addition and consolidation of billing data and easy-to-use billing journals for accounts receivable, accounts payable, cash, and general billing transactions;
- Interactive data visualization to help agents understand new business growth requirements relative to customer churn, and embeddable and pre-integrated content with Guidewire Gateway Portal for Agents; and
- New Loss Development App to support actuaries, claims managers, and regulatory reporting with easy data access and ability to pull pre-calculated loss development details for more complex analysis and flexible loss triangles.
Guidewire Digital Portals provide support for omni-channel engagement across policy, billing, and claims to external stakeholders such as agents, policyholders, and vendors. Digital Portals 5 enhancements include:
- Mobile-first designed consumer quoting experience with very little data entry required;
- More self-serve capability for policyholders with a user experience that better meets the expectations set by other industries, e.g. retail;
- Configurable marketing sidebar in Gateway Portal for Agents allowing insurers to tailor marketing messages to agents, making them easy to find;
- Integration between Gateway Portal for Agents and InfoCenter enabling agents to see their performance analytics directly in the portal, empowering them to assess how they are growing and making money and where they should focus; and
- New wizard flow API in Digital Portals that simplifies the creation of unique user experiences.
The Guidewire Insurance Platform will be generally available worldwide by June 30th. Guidewire ClaimCenter 9, the company’s claims management product is available globally today.
- Electronic Chat with Jeroen Morrenhof
- Legacy Systems Are Dead. Really? Don't Count On It.
- Now Accepting Nominations for the 2019 ITA Bridge Awards
- It's time to register for ITA LIVE!
- Registration is Now Open for ITA LIVE 2019!
- What to Expect from a Digital Experience Platform Implementation
- ITA Pro Magazine September Edition is Now Available
- It's National IT Professionals Day
- Save the Date for ITA-LIVE 2019
- OneShield Software and UrbanStat Work Together to Improve Real-Time Analytics and Risk Decision-Making
- ITA LIVE 2019 - SAVE THE DATE!
- Insurance Technology Association Announces New Editor-in-Chief
- August 2018 Edition ITA Pro Magazine is Now Available
- Enterprise Architecture in an Agile World
- Top 10 Tips for Securing Your Mobile Devices and Sensitive Client Data
- Industry Insight: 4 Global Insurance Trends in Digital, Data, Content Services and Security
- Diving Deeper into Prioritizing Your Strategic Digital investments
- Why Content Rules
- How Mass Personalization Will Open the Small Business Benefits Market
- At Year End 2017, Will Your Organization Be Protected from Cyber Risks?
- Do Insurance Bots Dream of Mitigating Risk?
- Conditioned to Respond
- Managing & Mobilizing Insurance Data in a Connected World
- Race to the Finish Line
- New Tools, New Opportunities in Claims
- ITA LIVE: Reaching Insurance Industry Crossroads
- Advice to Insurance IT Leaders: Keep Your Eye on the Ball
- New Date, Venue for ITA LIVE 2017
- Guidewire Makes Major Push to Small and Midtier Market by Acquiring ISCS
- Insurance Disruption is Happening Right Now
- Insurity Adds Strategic Investment Partner, General Atlantic
- Beyond Transformation: The Convergence of Finance, Risk, and Actuarial Functions
- The Rapid Evolution of Consumer Protection Regulation
- Talent Hunt: Finding, Attracting, Retaining Top People
- Insurers Flexing Their Distribution Models
- Technology Driving Disruption in Insurance
- Fear of ‘Next Bubble’ Challenges Life, Annuity Carriers
- Technology Allows Commercial Lines Insurers to Stand Out
- Single Sign-on Viewed as Biggest Tech Challenge for Agencies
- ISCS Observes 20th Anniversary; Scurto Predicts Major Changes Ahead
- Policyholders and Their First Impressions
- Progressive Making Progress on the UBI Front
- High and Dry: Insurers Search for Disaster Recovery Plans
- Insurers Sign The (Un)Dotted Line
- Reflections of a Retired Insurance CIO
- Mobile Device Management Just One Answer to BYOD Issue
- Lessons from GEICO and Progressive on Winning the Critical Buying Stage
- You Are a Target for a Cyber Attack
- Web-based Systems are the Next Evolution in Claims Technology
- Gaining a “Wow” Experience from Web Users
- Time to Shift from Business/IT Alignment to Business/IT Alliance
- Healthcare Insurers Changing to Consumer Model
- Organization is the Key for Selecting Software Vendors
- Analysts Expound on the Needs of the Mid-tier Insurance Market
- Finding the Cure for Obamacare’s Website
- New Software Solutions Benefit Insurers on the Inside and Outside
- Products, Market Impede Investment in Systems for Life Insurers
- Combatting Cyber Threats: Predict, Prevent, Persist
- The Future of Telematics Heads Beyond Insurance
- The Shame in Cyber Security Lapses
- Building Policy Administration Systems for the Future
- Insurers Look Into The Eyes of Their Policyholders
- It’s a New Dawn for the ITA
INSURANCE IT NEWS
- Electronic Chat with Jeroen Morrenhof
- 2019 Global Insurance Accelerator Cohort Reflects Evolution of InsurTech
- Nearly 50% of US Insurers Are Enhancing Security Capabilities Across the Board, Says Novarica
- Xchange Benefits Acquires the Assets of J. Allan Hall & Associates, Inc.
- HazardHub Celebrates 2018
- Slice Launch Studio
- Crawford Technologies Experiences its Strongest Year of Sales and Growth
- InsureTech Company Accurence Secures Fourth Patent
The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
ITA LIVE 2019
The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.
ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.
Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!
BLOGS AND COLUMNS
You have surely heard it said that small businesses are the growth engine for America. Today, the phrase has a special ring to it for benefits... READ MORE
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
As Guidewire Software prepares for the start of Connections, its 11th annual user conference that begins on Nov. 2, Brian Desmond, chief marketing... READ MORE