Single Source of Truth, Enterprise-wide Insight
Accelerate legacy replacement and fine-tune your business with an enterprise approach to your data
Data is the lifeblood of insurance because it is critical to the decision-making that drives growth and change across the company. Data is needed by executives as well as core operation users across policy, billing, and claims processes. It is also required for monitoring the business and fulfilling regulatory requirements.
Incorporating data management and business intelligence solutions during a core system transformation enables insurers to create a central data repository and better prepare core systems data for analysis. This approach accelerates legacy replacement, provides greater operational insight from the new core systems, and delivers enterprise-wide insights to fine-tune the business.
Guidewire DataHub™ is an insurance data store that unifies, standardizes, and stores data from the patchwork of an insurer’s systems as well as external sources. It enables insurers to create a single version of the truth through a detailed transaction repository where internal and third-party data is subject oriented, conformed, and given common context. This provides a staging platform to accelerate legacy replacement and meet the needs of both data producers and consumers.
- Retire legacy systems: Insurance data often outlives the application that created it. DataHub migrates and persists data to create a single source of truth that accelerates core system migration and enables you to sunset or streamline legacy systems.
- Future-proof data architecture: Business and IT data needs evolve over time. Yet data is often siloed and conflicting. DataHub decouples data sources from point-to-point connections with downstream systems, enabling the efficient replacement or addition of new systems to keep pace with change.
- Improve data quality, completeness, and consistency: Data often lacks integrity, completeness, or consistency in legacy source systems. Legacy applications can be limited by line of business or functional area, and have proliferated over time. DataHub secures data integrity by gathering, analyzing, testing, and validating data by using proven methods and tools. As a result, data consumers can use the data with confidence.
Guidewire InfoCenter™ is a business intelligence warehouse that was created specifically for the P&C insurance market. It provides information in easy-to-use formats for BI, analysis, and enhanced decision-making. With InfoCenter, customers can gain operational insight as well as fine-tune the business by building views and understanding across the enterprise.
- Executive dashboards: Brings aggregated operational metrics to an insurance executive’s mobile device or browser in the form of easy-to-digest information, delivering high-level, performance-based content in a visual and actionable way
- Enterprise-wide view: Provides a holistic view by leveraging conformed data from the entire enterprise, including policy, claims, and supplemental internal and third-party data
- Simplified development and maintenance: Reduces implementation time and risk through the use of pre-built data extract, transform, and load (ETL) processes from Guidewire DataHub™, enabling insurers to focus on business needs
- Continuous improvement: Enhances enterprise insights on an ongoing basis by using the extensible data management framework and tools to implement new data marts
Proven Property and Casualty Data Models
DataHub and InfoCenter are based on proven and optimized data models for the general and workers compensation insurance industries. The models rely on best practices honed over time across diverse, successful insurance implementations. They guide and streamline data migration, enabling customers to focus on differentiation and high-value BI solutions. The models are agnostic to both source systems and commonly used BI tools.
- Red River Mutual Selects Guidewire with Cloud Delivery by EY | April 27, 2015
- Frankenmuth Insurance Selects Guidewire Products for Underwriting, Rating, Policy Administration, Claims Management, and Billing | March 3, 2015
- Republic Group Selects Guidewire Products to Aid Business Transformation | February 5, 2015
- Texas Mutual Insurance Company Selects Guidewire System for Underwriting, Policy Administration, and Billing | November 11, 2014
- American Modern Selects Guidewire Solutions for Data Management and Business Intelligence | January 14, 2014
- Inside American Modern’s Transformation Strategy | Insurance & Technology, November 10, 2014
- Centralize Data to Accelerate Core System Replacement | ITA Pro Magazine, April 28, 2014
- Omnichannel Revolution Grips Insurance Core Systems | Insurance & Technology, December 19, 2013
- Strategic Differentiation through Effective Data Management (Requires Registration)
Accelerate legacy migration and fine-tune insurance operations.
Power of Insight
A single source of truth and business intelligence foundation provide the insight you need to make the tough calls and take action.
Data integration through a master data hub is a proven approach that provides many benefits to the insurer. In legacy systems replacements, a data hub can serve as the backbone for core system integration, but also can mitigate the need for complex or large conversion efforts and provide a consolidated enterprise view of the business.