Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform
Property and Casualty (P&C) insurers rely upon, today announced the
2019.1 release of Guidewire
InsurancePlatform™. This latest release supports insurers’
imperatives to optimize operations, be more digital, use data in new
ways, and innovate quickly. Underlying these business drivers is a
general theme to simplify and de-risk insurers’ IT environments.
“Insurers today are driving towards more continuous delivery of
technology enabled capabilities to their internal and external
stakeholders. Increased release cadence of vended core systems like
Guidewire InsurancePlatform, will help insurers address increasing time
to market demands and improved upgrade experience,” said Martina Conlon,
executive vice president, Research and Consulting and practice leader
for property/casualty at Novarica. “Workers’ Compensation specific
capabilities in this release will address additional needs of the very
active Workers’ Compensation market.”
Guidewire InsurancePlatform has been designed to power the P&C insurance
business, in support of the following key insurer imperatives:
Optimize operations: InsurancePlatform optimizes operations by
embedding best practices and efficiency into insurer core processes.
This provides standardization and scalability, while also enabling
insurers to reimagine what’s possible.
InsuranceNow* 2019.1 contains usability improvements to some First
Notice of Loss, Claims, and Billing areas of the system to provide a
more consistent and intuitive user experience.
InsuranceNow Studio* is designed to allow developers to manage the
configuration source using familiar tools, while presenting the
business relevant portions of the configuration in an intuitive
non-technical user interface.
2019.1 expands Studio’s scope to include additional underwriting
features and support for claims configuration.
New Server Control features for restarting InsuranceNow to pick up
configuration changes more quickly, enabling more agile business
- 2019.1 expands Studio’s scope to include additional underwriting
Use data in new ways: InsurancePlatform helps insurers drive
smart decisions across the insurance lifecycle by leveraging scientific
techniques and delivering actionable insights at the time key decisions
are being made:
New Guidewire Cyence for Small Business is an on-demand risk
assessment engine for Workers’ Compensation, using machine learning to
capture non-obvious data about a business at the point of
underwriting. It also unlocks meaningful opportunities in fine-tuned
segmentation for prospecting, and more risk differentiation for
New innovations in Guidewire Predictive Analytics make it easier to
import and operationalize models built with third-party software,
prevent overfitting of certain variables, allow for gradual adoption
of model recommendation, and monitor overall impact on claims,
pricing, and submissions.
The InsuranceNow Data Service* is a brand new microservice developed
that provides near real-time reporting data in a centralized Amazon
Redshift data warehouse.
Improve digital engagement: To meet rising digital expectations,
InsurancePlatform 2019.1 helps insurers increase digital engagement by
digitizing every interaction and delivering a satisfying, consumer
grade, omnichannel experience.
Provides more streamlined quoting experiences for customers, agents,
brokers, and customer service representatives (CSRs) through enhanced
quote flow navigation that enables users to move back and forth in
quote flows while maintaining the integrity of the data submitted,
thus improving the speed and efficiency of the quoting process.
Expands functionality in Guidewire ProducerEngage™ and Guidewire
ServiceRepEngage™ to give agents, brokers, and CSRs the ability to
quote and bind Workers’ Compensation insurance out of the box. Agents,
brokers and CSRs can also drag and drop spreadsheets to pre-fill
information for complex quotes.
Innovative error handling in ProducerEngage and ServiceRepEngage
notifies agents, brokers, and CSRs of data entry errors and
qualification issues as they occur, allowing them to address issues
right away to save time and avoid working on quotes that cannot be
bound. The alerts fall into three categories: error messages,
warnings, and underwriting approval alerts.
Innovate quickly: To empower insurers to respond to changing
competition and new entrants, InsurancePlatform enables innovation while
reducing complexity of integrations with promising insurtechs as well as
Insurers can choose from 100 Guidewire validated third party solution
integrations currently available for download in the Guidewire
PartnerConnect Solution partners added since the October 2018 release
include: ACI Worldwide, Advanced Remarketing Services, Franco Signor,
Mirror Technologies, Omadi, Ontellus, TruePic, and Zipwhip.
In the past four months, 7 Solution Partners have signed up to use the
DevConnect developer environment to create plug and play Ready
for Guidewire add-ons for ClaimCenter: Advanced Remarketing
Services, Livegenic, Mirror Technologies, Omadi, Ontellus, TruePic and
Simplify IT complexity: InsurancePlatform reduces IT complexity
and minimizes the operational burden with key infrastructure
improvements to InsuranceSuite.
The Policy Migration Tool reduces the cost and risk associated with
legacy policy migration into Guidewire PolicyCenter™ by providing a
supported tool that simplifies the process.
The InsuranceSuite Behavior Testing Framework promotes better
collaboration between business and IT by enabling business analysts to
create InsuranceSuite test scenarios in everyday language.
“InsurancePlatform releases remain focused on simplifying the technology
that supports insurers, while improving digital engagement across the
customer lifecycle, enabling insurers to achieve their business
imperatives,” said Ayan Sarkar, principal, InsurancePlatform, Guidewire.
“2019.1 unveils exciting new products, features, and tools in support of
Guidewire InsuranceSuite™ has been positioned as a Leader, and Guidewire
InsuranceNow has been positioned as a Challenger in Gartner’s Magic
Quadrant for P&C Core Platforms, North America1.
Guidewire Software has also been positioned as a Leader in Gartner’s
Magic Quadrant for Non-Life-Insurance Platforms, Europe2.
* Note that not all products are available in every geography. Guidewire
customers can get more information from their Account Executive.
1Gartner, Magic Quadrant for P&C Core Platforms, North
America, Jeff Haner, October 9, 2018
2Gartner, Magic Quadrant for Non-Life Insurance
Platforms, Europe, Sham Gill, 26 November 2018
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About Guidewire Software
Guidewire delivers the industry platform that Property and Casualty
(P&C) insurers rely upon to adapt and succeed in a time of accelerating
change. We provide the software, services, and partner ecosystem to
enable our customers to run, differentiate, and grow their business. We
are privileged to serve more than 350 companies in 32 countries. For
more information, please visit www.guidewire.com
and follow us on twitter: @Guidewire_PandC.
NOTE: All products mentioned in this announcement are Guidewire
products. For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.