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ServiceNow (Santa Clara, Calif.), a provider cloud-based solutions aimed at defining, structuring, managing, and automating services for enterprises, has announced an integration between ServiceNow Financial Services Operations and Guidewire (San Mateo, Calif.) InsuranceSuite on Guidewire Cloud to improve insurance experiences. Currently available in the ServiceNow Store, the integration extends Guidewire Cloud capabilities for claims, policy servicing, and underwriting onto the Now Platform.

Through the integration, insurance companies can now optimize their claims and other high-impact processes by creating repeatable, automated experiences for handling exceptions that would otherwise drive outsized costs and resolution times, according to a statement from Tammi Shapiro, ServiceNow VP and Global Head of Financial Services Products at ServiceNow. “Carriers can also use prebuilt insurance process workflows, insurance agent workspaces, dashboards, and process mining capabilities already available in ServiceNow to get to value even faster,” Shapiro says.

The integration enables the real-time, bidirectional exchange of data related to claims, policyholders, and other functions, according to Shapiro. It helps ensure those working in underwriting, claims, and customer service have the most up-to-date information in one place—so they can work seamlessly with minimal disruption, she says.

Powering better customer experiences with AI

Shapiro cites the latest EY Tech Horizon survey of insurance CIO respondents, who said “meeting changing customer demands” and “improving the quality of products and services” are the top priorities driving their digital transformation.

“The ServiceNow spoke for Guidewire is an important step toward enabling productivity and delivering superior customer experiences,” says Shapiro. “It brings together Guidewire’s deep insurance expertise with ServiceNow to create an integrated, intelligent platform for end-to-end digital transformation.”

With ServiceNow and Guidewire InsuranceSuite on Guidewire Cloud, customers can do the following, Shapiro elaborates:

Drive efficiency with AI and automation: Intelligent engagement, document processing, and case routing tools will offer tailored recommendations, automate data extraction from documents, and accurately send cases to the right teams. AI and process mining will continuously improve how work gets done.

Power cross-functional workflows: ServiceNow connects teams (including litigation, field service, and special investigative unit departments) and systems  across the enterprise on a unified platform, giving stakeholders real-time access  to claim progress, status updates, and vital policy and coverage details.

Transform processes: Insurance companies will be able to use ServiceNow low-

code tools to implement new solutions where they see business value—from setting up claims to managing reserves and payments, and even refining approval processes.

Provide omnichannel customer experiences: Through ServiceNow’s native engagement channels and more than 1,000 integrations, insurers can engage with customers and distribution partners on the channels of their choice. Information captured from these conversations is automatically uploaded into Guidewire so that insurers have the data and information they need in one place.

Promising Solution

“Insurance carriers greatly rely on easy access to data within claims and policy administration systems to enhance customer and employee experiences,” comments Karlyn Carnahan, head of Celent’s (Boston) North American insurance practice. “Smooth integrations play a vital role in enabling real-time, two-way data exchange and consolidating up- to-date information for underwriting, claims, and policy servicing. Additionally, the growing capabilities of low-code tools empower carriers to efficiently and quickly implement other third-party digital insurance solutions. The integration between ServiceNow and Guidewire offers a promising solution to improve cost and time efficiency, reduce resolution times, and ultimately foster greater satisfaction among customers and employees.”