(Ali Kheirolomoom,Guidewire’s Chief Product Officer, discusses the vendor’s new releases at Guidewire Connections 2018.)
Guidewire Software (Foster City, Calif.), announced the release of the 2018.2 version of its InsurancePlatform product this week at the Guidewire Connections 2018 annual user group meeting at The Wynn in Las Vegas. The new release combines InsuranceSuite 10, a core system solution, with cloud services and a partner ecosystem, according to Guidewire. The firm states that InsuranceSuite 10 has over 275 customers across more than 30 countries, with ISO ERC support available for all standard commercial lines in the United States. The new release has expanded capabilities related to Salesforce, including billing and claims views on demand and policy quoting directly from Salesforce Financial Services Cloud, according to Guidewire.
Guidewire reports that the new release includes a framework for creating maintainable and stable RESTful APIs for InsuranceSuite, in order to enable versioned and stable integrations, as well as a declarative UX framework for delivering cloud-native digital experiences, simplifying IT complexity with cloud capabilities.
“P&C technology providers are increasingly moving their solutions to cloud-based platforms complemented by a broad ecosystem of point solutions and data/analytic providers,” comments Donald Light, director, North America Property/Casualty Practice, Celent. “The 2018.2 release of Guidewire InsurancePlatformTM is an important step in that process—featuring two Salesforce-based offerings and some notable additions to the large roster of external solution providers in the Guidewire Marketplace.”
Guidewire says that the new version of the platform includes an updated user interface and dashboards in PolicyCenter to enhance Underwriting Management integration, and to increase efficiency and user experience. PolicyCenter also has enhanced Underwriting Management integration for improved communication between underwriters and policy administration. ClaimCenter has increased business user configuration of exposures and reserves; PolicyCenter has improved quoting and performance; and BillingCenter includes simplified administration of multiple currency billing plans.
According to Guidewire, the 2018.2 platform supports increased use of data and analytics to better utilize machine learning. It includes a new app, Live Analytics—Explore for Policy. DataHub/InfoCenter10 analyzes conversion rations and processing cycle times for quoting content support, says the firm, and predictive insights are embedded in the core processes of InsuranceNow, the vendor’s cloud-based offering targeted at smaller carriers.
Omnichannel Experience for Increased Engagement
Guidewire says that its new release supports current digital expectations for an omnichannel experience, with an eye toward increased engagement. Digital 10 for mobile/web expands API support and now includes workers’ compensation. New products within Salesforce feature additional capabilities included expanded policy, billing and claims views on demand. Personal auto, commercial property and business owners’ policies can now be quoted directly from Salesforce Financial Services Cloud. Smart Links connects Saleforce to records in PolicyCenter, eliminating the need to employ the search function.