Guidewire Announces Banff Release and Vision for the Future of P&C Claims

The new release fulfills the vendor’s commitment to new releases every six months as part of its cloud- and product-focused strategy.

(Guidewire’s Banff release logo.)

Guidewire Software (San Mateo, Calif.) has announced availability of Banff, the latest release of InsuranceSuite the vendor’s cloud platform. The new release follows the June debut of Aspen, the first cloud-optimized release of InsuranceSuite, and fulfills the vendor’s commitment to new releases every six months as part of its cloud- and product-focused strategy. Banff will be featured at Connections Reimagined, Guidewire’s customer conference on November 18 and 19.

In addition to the Banff release, Guidewire will also outline its vision for the future of property/casualty claims at Connections Reimagined. “Guidewire believes that claims handling is entering a new era with automated claims being the default, even for complex claims. Adjusters can focus their skills and experience where they can have the most impact on customer satisfaction,” comments Reshma Mani, senior director, Product Management, Claims, Guidewire. “Over the last year we’ve worked on a major innovation, called Autopilot, which demonstrates this vision.”

Automation-First Approach to Claims

Autopilot, a new framework in Guidewire Cloud Platform, takes an automation-first approach to claims handling in ClaimCenter, the vendor reports. Leveraging AI, analytics, and digital technologies, claims are piloted through complex business processes quickly, enabling insurers to deliver significantly better customer experiences while lowering their operating expenses, according to Guidewire.

Diego Devalle, Chief Product Development Officer, Guidewire.

Banff, Guidewire’s second bi-annual release, builds on Aspen to introduce what the vendor calls the industry’s first closed-loop analytics platform to make insurance professionals “brilliant in the moment,” by providing the insight to make better decisions as they work in their core workspace. Guidewire now enables insurers to leverage their own data through Guidewire Data Platform, enrich insights with the Cyence data listening engine and use of syndicated data, embed predictive analytics scores in core workflows, and learn continuously with A/B testing and portfolio performance tracking.

Other Banff highlights include the following, as described by Guidewire:

CloudDirect: A new program combining tools and upgrade expert services to enable self-managed Guidewire InsuranceSuite customers to upgrade directly to Guidewire Cloud, reducing upgrade costs and streamlining planning.

InsuranceSuite Cloud API and InsuranceNow API: New APIs enabling insurers to easily connect with third-party systems and services, reducing integration costs and accelerating innovation.

Product Editions: An enhancement to Advanced Product Designer (APD) enabling product changes to be made based on effective dates, increasing insurers’ ability to respond to customer preferences and market dynamics.

Cloud-native services: Building on the cloud-native services introduced in Aspen for rating and business rules, new cloud-native services (including inbound payments and disbursements) increase business agility while simplifying IT operations.

Cyence risk insights: New features (including support for small business general liability and enhanced support for cyber risk assessment with Remote Desktop Protocol (RDP) Exposure Signal) plus technology preview of targeted ransomware event modeling, enable insurers to deliver more profitable growth.

developer.guidewire.com: A new developer program that brings articles, blogs, videos, and more to the world-wide community of developers working on the Guidewire platform, enabling them to drive innovation and creatively address business objectives.

Marketplace apps for InsuranceNow: Guidewire PartnerConnect Solution partners can now build apps for Guidewire InsuranceNow customers, which will significantly reduce integration costs and provide new options to innovate and improve operational efficiency. Four partners are unveiling apps for InsuranceNow at Connections Reimagined: Cloverleaf, LexisNexis, One Inc, and OneSpan.

Consumer sales portal for InsuranceNow: A new consumer sales portal included in InsuranceNow enables rapid deployment, increased customer engagement, and new business growth.

“We’re excited to share our latest innovations with our customer community at Connections Reimagined. Banff builds on the momentum we began in Aspen to reimagine P&C core platforms by delivering closed-loop analytics, new cloud-native services and capabilities, and APIs to empower business and IT,” says Diego Devalle, chief product development officer, Guidewire. “In addition to unveiling Banff, we’re excited to outline our vision for claims. We’ve worked with a group of our customers on our design of Autopilot and believe it will be a game-changer for the industry.”

Guidewire’s Aspen Release a ‘Pivotal’ Step towards Cloud-Native Platform

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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