(Image source: Victorinox.)
Guidewire Software (Foster City, Calif.) has announced the completion of its of ISCS with the immediate availability of the Guidewire InsuranceNow offering, described as a cloud-based, all-in-one solution that supports the P&C insurance lifecycle. In Dec. 2016, Guidewire characterized the acquisition as giving the vendor the ability to provide a cloud-based, all-in-one alternative to its flagship InsureSuite aimed at small and mid-sized insurers.
“Guidewire’s acquisition of ISCS enables it to add a proven option to the market,” comments Karen Furtado, partner, Strategy Meets Action. “It also illustrates the growing importance of the cloud with respect to the solutions that vendors are providing to the P&C market.”
“We are excited to broaden our platform with the addition of InsuranceNow,” comments Anthony Lye, chief cloud officer, Guidewire. “In addition, the acquisition of ISCS offers us additional IP and experience that will help us accelerate our delivery of new cloud-based products and services.”
Emphasizing its qualities as as an all-in-one system, Guidewire says InsuranceNow includes key core functionality for policy administration, billing, and claims management. It also includes data and digital functionality, such as agent access and consumer portals, document management, reinsurance, business intelligence, and producer management, within a single system.
Guidewire describes InsuranceNow’s key attributes and benefits as follows:
Cloud-based delivery and ongoing operational support frees insurers to focus on innovation and respond rapidly to market demands, even when they have limited IT support;
- Functionality that supports data and analytics and digital engagement in addition to core operations, delivering an all-in-one integrated solution and resulting in less complexity for insurers;
- An integrated design and guided implementation approach for shorter project timeframes and quicker upgrades; and
- A common user interface and fewer login screens that simplify the system login process, reduce training times, and improve collaboration between agents, insurers, employees, and partners.
“InsuranceNow is ideally suited to insurers who want to better compete with modern technology but lack the IT resources and model to get there,” comments Andy Scurto, former CEO and founder, ISCS and now head of products for Guidewire InsuranceNow. “Its integrated design, out-of-the-box functionality, and guided approach enable rapid implementation and quick upgrades.”