(Logo for Garmisch, Guidewire’s latest cloud release.)
Guidewire (San Mateo, California) has announced Garmisch, the software provider’s latest cloud release. The vendor launched its first cloud release, Aspen, in June 2020, followed by the alphabetically sequenced, ski-resort referencing releases of Banff, Cortina, Dobson, Elysian and Flaine. Shortly after his appointment as Guidewire’s CEO, Mike Rosenbaum committed to new cloud releases every six months.
In the vendor’s announcement of its debut, it says it new platform capabilities, application enhancements, and content updates in Garmisch enable P&C insurers to:
- Create dynamic claims experiences quickly with Advanced Product Designer (APD), extending the first-of-its-kind approach to product-driven development across the complete insurance lifecycle.
- Build upgrade-safe integrations quickly, easily, and more cost-effectively with new integration templates and a redesigned user interface for Integration Gateway.
- Accelerate speed-to-market for commercial lines with expanded Guidewire GO content and a new solution for parametric insurance.
Guidewire asserts that Garmisch makes building upgrade-safe integrations faster and easier with a new Integration Gateway user experience to better manage the integration development lifecycle and starter templates that accelerate implementation.
The company adds that the new cloud release continues to deliver on Guidewire’s commitment to providing developers with more self-service tools on the Guidewire Cloud Console. These new tools enable smoother production deployments and provide developers with greater control over the build pipeline. The vendor says that insurers can quickly design and deploy seamless, digital claims experiences leveraging a new ClaimCenter SDK on the Jutro Digital Platform. Jutro enables insurers to rapidly design and deploy auto-generated digital experiences that fully integrate with InsuranceSuite.
Guidewire’s statement on the release adds that Garmisch accelerates time-to-insight across the enterprise with ready-to-use bulk data connectors from leading global data platforms (including Google Cloud BigQuery and Analytics Hub, Celonis, Hubio, and Analytics on AWS) using Cloud Data Access (CDA), a data service that provides secure, low latency access to Guidewire InsuranceSuite data for data warehousing, reporting, and analytical use cases.
“Guidewire continues to innovate at an unprecedented pace with six releases and more than 1,500 feature enhancements and new capabilities added over the last three years,” comments Diego Devalle, chief product development officer, Guidewire. “With Garmisch, we will be increasing our cloud release cadence from two to three releases each year, delivering innovation faster so our customers can drive greater speed, agility, and innovation across the insurance lifecycle.”
With regard to applications, Guidewire says that Garmisch enables insurers to drive growth and efficiency with the extension of APD functionality into claims, new cloud APIs, and expansion of property risk insights.
The new release also provides new functionality for claims setup with APD extends Guidewire’s holistic, product-driven approach to P&C insurance processing to span the complete insurance lifecycle from product planning through claims handling and resolution, according to the vendor. Guidewire says that this fosters collaboration between policy, underwriting, and claims teams to rapidly deliver optimal claims experiences for the associated product line.
Insurers using Garmisch can simplify data sharing (ClaimCenter), improve customer acquisition and reduce abandoned quotes (PolicyCenter), and enable customers to view and pay invoices conveniently (BillingCenter) with new InsuranceSuite cloud APIs, according to the announcement on the new cloud release.
Fire Risk Data for Individual Locations
Underwriters and actuaries can now assess the potential risk of fire damage for individual locations rather than for the entire district with a new HazardHub Fire Suppression Score (FSS). This will enable them to make more informed decisions on the risk exposure of single structures.
Content: Accelerate time-to-market for commercial lines with expanded Guidewire GO packaged content.
Insurers are also able to launch a commercial property line of business in the U.S. market up to 50 percent faster with a new GO product for InsuranceNow. Guidewire GO content, a library of pre-packaged product line models to jump-start the product design process, is available for download from the Guidewire Marketplace, using the new cloud release.
The vendor characterizes Garmisch as continuing Guidewire’s investment, particularly for insurers operating in the London Market, improving underwriting precision with no-code risk classification configuration and improved message handling.
Guidewire notes that Garmisch also adds a new solution for parametric insurance that will enable insurers to narrow the coverage gap, reduce risk, and improve cost-to-serve for parametric lines of business.
“Insurers are looking for ways to get to market faster and that’s why we’re focused on providing ready-to- use, out-of-the-box content,” says Eugene Lee, SVP and general manager, InsuranceSuite, Guidewire. “Our content-focused innovations in Garmisch demonstrate our commitment to addressing our customers’ need for speed when it comes to launching new products and expanding into new markets.”