(Photo by author.)
Guidewire Software (Foster City, Calif.) today announced the 2017.2 release of Guidewire InsurancePlatform at the vendor’s Connections user group meeting in Las Vegas. The release heralds enhancements to Guidewire’s Core, Data, Digital, and All-in-One product families. Guidewire characterizes the enhancements as enabling insurers’ operations to be smarter, faster, and more connected in order to better engage with customers, agents/brokers, and employees.
“We see Engagement Era demands compelling insurers to re-imagine their consumer and agent interactions, and more fully empower their employees,” comments Ayan Sarkar, VP, Digital, Guidewire Software. “The enhancements available in InsurancePlatform 2017.2 will further support their efforts.”
“We are pleased to offer InsurancePlatform 2017.2 to the market,” coments Ali Kheirolomoom, Guidewire’s chief product officer. “Our tradition of providing high-quality software continues with this release. Designed to help insurers better compete in today’s era of engagement, the enhancements to many of the products in InsurancePlatform 2017.2 provide the foundation they need to succeed.”
Guidewire presents the capabilities of InsurancePlatform 2017.2 as enabling smarter, faster, and more connected insurance operations through its new versions of DataHub, InfoCenter, Predictive Analytics, Predictive Analytics Solution Packs, Product Content Management, InsuranceNow, Underwriting Management, and Digital. The vendor details new features’ correspondence to these categories as follows:
SMARTER: InsurancePlatform enables insurers to work smarter and make data-driven decisions through predictive, guided processes, API-driven design and integrations, and more pre-built content. Highlights include:
- Guidewire DataHub 9.2 simplifies content extension needs and reduce implementation costs with ETL automation and configuration enhancements. Support for claim activities and improvements in the earnings storage and processing provide users with a holistic picture of the operational efficiency in claims processing along with an increased confidence in earnings statements.
- Guidewire InfoCenter 9.2 helps improve user productivity and engagement with the upgrade to IBM Cognos 11. Advanced self-service capabilities will make InfoCenter users smarter with fast answers to their business questions with little to no IT involvement.
- Guidewire Predictive Analytics 6.2 expands machine learning capabilities to mine unstructured data to identify additional indicators of claim severity. Guidewire Predictive Analytics is now available globally on Amazon Web Services (AWS) to help alleviate customer concerns about compliance with local and regional data security and privacy regulations.
- New Guidewire Predictive Analytics Solution Packs for Subrogation and Litigation Risk Detection integrated to Guidewire ClaimCenter to enable a smart claims operation. These integrated use cases identify and escalate claims with opportunity for third-party cost recovery and claims that have a higher risk of entering litigation. Improvements to the model deployment and core systems integration process helps Solution Packs users achieve quicker return on their investments.
FASTER: InsurancePlatform’s flexible IT infrastructure, improved automation, enhanced usability, and real-time capabilities support users’ ability to work faster and improve speed to market, while lowering TCO. Highlights include:
- Guidewire Product Content Management Add-on Module to PolicyCenter is an industry-first solution that tracks, manages, and visualizes pre-configured ISO content. It helps insurers using Guidewire Standards Based Templates and ISO ERC to accept automatic ISO/NCCI product updates made in Guidewire PolicyCenter to speed time to market for new/updated products and improve accuracy in the changes applied.
- New Excel-designed Rating in Guidewire InsuranceNow. This visual configuration rating tool allows those with knowledge of rating algorithms and basic InsuranceNow data capabilities to build and upload rating worksheets to rate products.
MORE CONNECTED: InsurancePlatform creates a more connected experience for all users, internal and external, through collaboration enhancements among underwriters, claims professionals, and agents/brokers, and provides improved self-service capabilities. Highlights include:
- Guidewire Underwriting Management 9.0.2’s Chat, Global Notifications, Prequalification, and email Templates make it easy for underwriting teams to collaborate with internal and external parties in real time to process submissions faster and more accurately. The new notifications structure ensures underwriters know right away when events they care about occur within their book of business.
- Guidewire Digital 7.0 provides mobile-first quoting experiences that enable consumers and policyholders to quote and buy insurance from anywhere. They can scan their vehicle identification numbers to look up the vehicle they want to insure, scan their driver’s licenses to pre-fill the information needed for fast quoting, and receive visual confirmation of the type of vehicle they are insuring.