Smart Approach Blog

Welcome to Guidewire’s blog for property/casualty insurance. Here we'll share our experiences and lessons learned from more than 300 implementation projects. We'll also offer our point of view on industry trends and advice to help you adapt and succeed on your journey of continuous improvement.

Apr
09
2018

It’s raining. You’re late for work. You get in your vehicle. You start the ignition and this appears on your dashboard. Should you a) check the oil, b) the battery, or c) the tire pressure? You would like to be able to take care of the maintenance immediately if you could only figure out what this icon represents….

Who?

Mar
29
2018

Last year (2017) was quite an active year for natural disasters and was a true testament of the impact that insurers make in times of need. While claims continue to roll in, 2017 could be the costliest catastrophe loss year in U.S. history.

Mar
26
2018

Rumors and debate abound in the UK property and casualty (P&C) insurance market about what Amazon’s intentions are for this industry, especially after the furor that has been caused over the last several months by observers noting the company’s hiring campaign to attract experienced insurance professionals.

Mar
21
2018

“Is my data more secure in the cloud than it is on premises―or less secure?” That’s one of those million-dollar questions, isn’t it? Fortunately, we can easily answer that question in a single blog post…

Mar
14
2018

I love technology. It’s one of the reasons I live in Silicon Valley (aka Nerdvana). And although I’d like to say I’m young for my age, I’m old enough to remember LBPC (life before personal computing). Amongst the valley’s cultural attractions, my favorite is the Computer History Museum. As I tour the displays, I remember working with equipment and systems that are called artifacts today.

Mar
14
2018

Can predictive analytics forecast if predictive analytics will transform the insurance industry? 

If you were to ask someone ten years ago, you might have thought ‘yeah right.’

Feb
14
2018

Last year, at TinTech 2017 – a technology strategy event in London - I remember a delegate from the audience suggesting that insurance companies should stop calling their products “Insurance”; as if there is no trust and value in that name any m

Jan
31
2018

With 2018 upon us, many P&C insurers are focused on determining which trends to jump on (i.e. which will serve them best?) this year and beyond. Here, we have compiled three trends that we believe P&C insurers should start investigating right away — a mobile-first strategy, chatbots, and the on-demand economy.

Mobile-first

Jan
29
2018

Because FOMO

definition: /FO-MO/ - Fear Of Missing Out. Anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on social media or incoming text messages on your phone.

is a real thing. 

Who?

Jan
29
2018

Around the globe, automobile insurers are dealing with a new hazard in driving. With the proliferation of smartphones and connected car technology, more and more drivers are distracted while driving.

Jan
16
2018

As the new year gets into its stride, I can see the insurance industry heading in some exciting directions. The starting point is how the past year has witnessed InsurTech and Data Analytics make big inroads. However, the year ahead will be about how those ideas and blueprints are turned into more concrete outcomes for insurers.

Data listening monetises managing 21st Century risks

Jan
03
2018
65% of the 18-29 age bracket do not have life insurance policies.

Princeton survey, 2017   

Now, there are many reasons for this, such as low income, not being married, and not having children, but the question remains: how does a carrier effectively target this younger market?  Read below to learn more about Quilt Insurance and the enterprising way they are providing life insurance quotes.

Who?

Jan
02
2018

The movie Blade Runner (and the novel it is based on, Do Androids Dream of Electric Sheep?) depicts a future world where artificial intelligence is taking over. It is a striking dystopia where robots – the replicants – have more humanity than their human masters.

Reimagining the future of insurance can get a little bleak too. Insurers might be concerned about InsurTech’s rise and its challenge to both the old ways of doing insurance, and even the need for insurers at all.

Nov
09
2017

Filmmakers and dystopian sci-fi novelists have long predicted a future where robots take control and humans are relegated to a servant class – or worse. This thought was in the back of my mind as I joined 20 Guidewire engineers and architects in an “Artificial Intelligence (AI)/Machine Learning (ML) Workshop” led by Amazon Web Services.

Nov
07
2017

Eyes on anything. Anytime. Anywhere. So you can know what’s true.

Anyone who is a parent of a teenager, pre-teen, kindergartener, etc., or just a parent in general, will instantly relate to WeGoLook’s tag line. Read on to learn about how, as a carrier, you can also have eyes on any risk at any time.  

Who

Nov
02
2017

Things Consumers Would Give Up To Use Messaging

Oct
31
2017

Understanding why Superman can fly and run faster than a speeding locomotive is something many European insurers might want to consider.

As every comic hero fan knows, Superman had superpowers on Earth because his physique was optimized for living on Krypton, a world with much more extreme environmental conditions.

Sep
29
2017

Historians use eras to help map out the big gearshifts in economic and social change in retrospect.

For the people who lived during those periods, well-known historical terms like the Middle Ages would have been unknown. For example, a medieval peasant knew they were a peasant but not that they were a medieval peasant.  Medieval was a term first coined in 1604, more than a hundred years after the Middle Ages are said to have ended.

Sep
07
2017

IT dollars are scarce in the insurance industry; the IT spend is closely scrutinized and a strong business case is necessary to secure those funds. For this reason, developing a good business case for a Guidewire upgrade project is the first step in getting approval for funding.

Aug
31
2017

While actuarial science has been leveraged for decades in insurance pricing, the industry stands to benefit greatly by both expanding the methods being used, and extending those methods to claims operations and underwriting. For example, predictive modelling can help with early identification of people whose injuries are likely to become more severe so that proactive action can be taken. However, using predictive analytics effectively across an entire business can be complicated.

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