InsuranceSuite 7—Change is Good
Breadth and Depth for P/C Insurers
Guidewire InsuranceSuite™ 7 provides insurers the benefits associated with having pre-integrated systems built on a shared platform that are functionally rich applications in their own right. InsuranceSuite 7 includes three new modules that increase the breadth of core process support: Client Data Management, Rating Management, and Reinsurance Management. These modules complement significantly enhanced new releases of the core systems that comprise the suite: PolicyCenter, BillingCenter, and ClaimCenter.
Increasing the breadth of functionality available with InsuranceSuite 7 are new modules for:
- Guidewire Client Data Management™—delivers the capabilities to manage customer contact data, and provides a comprehensive customer view across underwriting, policy administration, billing, and claims process.
- Guidewire Rating Management™—provides rate table management tools to ease the most common and frequent effort in rating maintenance.
- Guidewire Reinsurance Management™—delivers the automation needed to effectively manage ceded reinsurance processes.
Increasing the depth of functionality available to insurers, InsuranceSuite 7 enables improved quality of service to customers, increases business agility, and enhances an insurer's ability to better respond to catastrophes.
- Customer focus—Insurers gain better insight and understanding of their customers with access to a holistic view of the relationship, enabling them to better serve their customers and agents, identify and act on revenue generating opportunities, and make better business decisions.
- Business agility—Business users gain concise views of their product portfolio, and product changes are seamlessly extended to claims management as well as policy administration. The Reinsurance Management module enables carriers to control their reinsured offerings with greater confidence of recognizing recoveries.
- Proactive catastrophe management—New capabilities in InsuranceSuite 7 enable insurers to quickly and efficiently respond to disasters. The lack of real-time insight into the scope and severity of an event has been cited by insurers as a top challenge in managing a catastrophe (CAT). ClaimCenter 7 responds with a Catastrophe Dashboard, complete with a Heat Map that highlights concentrations of CAT claims on a color-coded map in real-time so that severity and span of the disaster are instantly visible.
