(Image credit: Shutterstock.)
This week Guidewire Software (San Mateo, Calif.) introduced Cortina, the latest release of its property/casualty cloud platform at its Connections Reimagined virtual event. Since the launch of Aspen in May 2020, the company has been increasing the value of its platform with twice-yearly releases, the second being Banff, released in November 2020. The vendor reports that insurers are selecting Guidewire Cloud to upgrade from self-managed deployments, power greenfield implementations, and transition their core business. Thirty-three Guidewire InsuranceSuite customers have selected Guidewire Cloud and 12 are live, according to the vendor.
Cortina’s event-based, API-first Integration Framework accelerates the connection of Guidewire to other services enabling teams to automate more workflows, driving faster innovation, according to a Guidewire statement. The vendor says that within Cortina, closed-loop analytics delivers specific insights across the insurance lifecycle to help claims and underwriting professionals make better, faster decisions. Platform innovation across Application Services empowers developers to experiment and build faster to keep pace with evolving customer demands, Guidewire’s Cortina debut announcement adds.
“The significant platform innovations in Cortina set a new bar for openness and reinvent how easy it is to integrate to Guidewire,” comments Diego Devalle, chief product development officer, Guidewire. “Customers can quickly capitalize on market opportunities, handle claims in new ways, and offer new products in record time—like usage-based insurance with our recently announced UBI Solution—while developers are empowered to further innovate on top of Guidewire. We are, in essence, simplifying the business of insurance technology.”
Guidewire reports that Cortina’s Expanded Application Services makes integrations and other InsuranceSuite interactions easier to build and maintain.
Guidewire Cloud Console: Enhanced tooling to enable IT self-service with provisioning and deployment, as well as database backups and restores. What used to take two people 20 days now takes one person 15 minutes to provision and deploy.
Guidewire Claims Autopilot: Cloud-based claims service that allows for an automation-first approach to claims handling, enabling insurers to leverage artificial intelligence, analytics, and digital technologies to deliver better customer experiences, while lowering operating expenses.
With Cortina, insurers are also empowered to make better-informed decisions with closed-loop analytics enabled by Data Studio, according to Guidewire which describes these capabilities as follows:
Closed-loop analytics: Two holistic solutions, Initial Segmentation for Auto/Motor Claims in ClaimCenter and Underwriting Submission Prioritization for BOP in PolicyCenter, improve claims processing efficiency and underwriting profitability.
Data Studio: A new data management tool to access, create, and publish business-ready data sets to enable insurers to leverage their data wherever it’s needed.
Guidewire notes that Integration Framework reduces the complexity of integrations across the property lifecycle. The vendor provides the following details:
- InsuranceSuite Cloud API expansion: Broader functional coverage enables apps to do more using the APIs. Further improving the Guidewire developer experience, the ClaimCenter API reference is now publicly available for developers to explore at guidewire.com.
- Integration Gateway: A new integration service that orchestrates calls to and from InsuranceSuite and third-party applications. Reduced integration complexity enables developers to drive more innovation.
- Application Events: A new integration service enabling developers to easily publish event streams from InsuranceSuite that “push” data and events to external systems. This service automates more processes and enables insurers to create their own differentiating ecosystem of connected apps and services.
As part of Cortina announcement, Guidewire reports that its InsuranceNow platform for insurers with limited IT resources is now on Guidewire Cloud Platform. The vendor says InsuranceNow customers can benefit from Guidewire’s cloud platform investments.