Guidewire Announces 2018.2 Release of P&C Insurance Industry Platform

Guidewire Announces 2018.2 Release of P&C Insurance Industry Platform

LAS VEGAS – GUIDEWIRE CONNECTIONS 2018, October 14, 2018

HIGHLIGHTS:

Software, cloud services, and a robust partner ecosystem combine to form the industry platform that helps P&C insurers run, differentiate, and grow their business

InsuranceSuite 10 delivers enhanced user experience across all core applications to improve efficiency and meet rising user expectations

ISO ERC support now available for all standard commercial lines of business, in all 50 United States

InsuranceNow customers can now leverage the power of Predictive Analytics and CustomerEngage for Quote and Buy for self-service

Strengthens Guidewire’s Smart Core™ value proposition—leveraging analytics to provide actionable insights at the time key decisions are being made

Second release of Guidewire Digital applications for Salesforce features expanded policy, billing and claims views on demand, and policy quoting directly from Salesforce Financial Services Cloud

Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced the 2018.2 release of Guidewire InsurancePlatform™. This platform release includes numerous new products and enhancements across all Guidewire product families. InsurancePlatform is the software, cloud services, and robust partner ecosystem that combine to form the industry platform that helps P&C insurers run, differentiate, and grow their business. This release includes InsuranceSuite 10, the leading core system suite with 275+ customers across 30+ countries.

“P&C technology providers are increasingly moving their solutions to cloud-based platforms complemented by a broad ecosystem of point solutions and data/analytic providers,” said Donald Light, director, North America Property/Casualty Practice, Celent. “The 2018.2 release of Guidewire InsurancePlatform™ is an important step in that process—featuring two Salesforce-based offerings and some notable additions to the large roster of external solution providers in the Guidewire Marketplace.”

Guidewire InsurancePlatform has been designed to power the P&C insurance business and to support key insurer imperatives. These imperatives and how 2018.2 supports them, follow below.

2018.2 introduces InsuranceSuite 10, and functionalities to optimize operations, including:

  • Enhanced user experience, including a refreshed user interface and dashboards in PolicyCenter that pull together the most commonly needed information from across InsuranceSuite, increasing the speed at which users can make informed decisions.

  • Many product enhancements across the suite, including increased business user configuration of exposures and reserves in ClaimCenter, improved quoting experience and performance in PolicyCenter, and simplified administration of multiple currency billing plans with BillingCenter.

  • Quicker acceptance of ISO maintenance updates in Product Content Management and support for all standard commercial lines of business in all 50 United States.

  • Enhanced Underwriting Management integration with PolicyCenter for more seamless underwriter/policy administration communication.

InsurancePlatform 2018.2 supports insurers’ use of data and analytics to drive smarter decisions by leveraging machine learning techniques and delivering actionable insights at the point of decisions:

  • Real-time analysis of underwriting conversion and efficiency in PolicyCenter with the new Live Analytics—Explore for Policy app.

  • Analyze conversion ratios and processing cycle times with quoting content support in DataHub/InfoCenter 10.

  • Embedding actionable predictive insights across InsuranceNow core processes.

To meet rising digital expectations, InsurancePlatform helps insurers increase engagement by digitizing every interaction and delivering a satisfying, consumer grade, omnichannel experience.

  • Digital 10 release for mobile/web expands API support to include workers’ compensation.

  • Second release of ProducerEngage for Salesforce and ServiceRepEngage for Salesforce features numerous new capabilities, including:
    + Expanded policy, billing, and claims views on demand with additional data from InsuranceSuite.
    + Quoting of personal auto, commercial property, and business owners’ policies directly from Salesforce Financial Services Cloud.
    + Smart Links from Salesforce to the relevant record in PolicyCenter without having to search.

  • InsuranceNow and Digital integration in CustomerEngage Quote and Buy for InsuranceNow lets individuals and business owners transact across the full policy lifecycle through self-service, digital journeys.

Innovation is a key element to differentiating and growing business and the Guidewire Marketplace allows insurers to access curated, value-added solutions to innovate quickly. Whether looking to leverage solutions from trusted providers, or partnering with Insurtechs, insurers can choose from the 90 Guidewire-validated third-party solution integrations currently available for download in the Guidewire Marketplace. Recent new partner and Ready for Guidewire accelerator additions to Marketplace include: Betterview, Clairus Group, Polonious, and WeGoLook.

Cloud capabilities in 2018.2 enable insurers to simplify IT complexity. The journey to the cloud has many requirements. 2018.2 contributes:

  • A new modern and robust framework for creating maintainable and stable RESTful APIs for InsuranceSuite.

  • Integration model framework to enable versioned and stable integrations.

  • Declarative UX framework for delivering dynamic cloud-native digital experiences.

“We are very excited by the immense potential the 2018.2 InsurancePlatform release holds for our customers,” said Ayan Sarkar, principal business owner, InsurancePlatform, Guidewire. “Helping our customers successfully respond to the demands of their customers and the market is job number one for us and knowing that we are playing a key role in their journeys fills us with a deep sense of responsibility.”

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.

Note that not all products are available in every geography. Guidewire customers can get more information from their Account Executive or here.

1Gartner, Magic Quadrant for P&C Core Platforms, North America, Jeff Haner, October 9, 2018

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 540 insurers in 40 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,600+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on X (formerly known as Twitter) and LinkedIn.

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