Smart Approach Blog

Welcome to Guidewire’s blog for P&C 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.

Collecting and analyzing data does not provide business value. Improved business processes that are more accurate and efficient provide business value. Without embedding a predictive model into a relevant business process, all the work and cost put into predictive analytics will be for nothing. Yet the implementation of predictive models has been an afterthought for many insurers. ... Read More >
Business intelligence looks at historical data to provide information about a company’s operations and performance. This can provide valuable insight but has limitations for predicting the future. Simply looking at historical patterns does not tell us how much of what we see in the data is a reliable pattern that can be depended on to continue – what we will refer to as “Signal” – and how much is due to random chance or unknown variables – what we will refer to as “Noise”.  ... Read More >
Auto claims satisfaction reaches record high.  ... Read More >
Data is a purpose-driven asset. It is collected for specific reasons to meet specific needs. The structure of a given set of data is driven by the immediate purpose as well. Data models used to create efficient daily processing are not those used for efficient storing, and yet the structures which facilitate easy access for reporting and business intelligence are different. ... Read More >
At the time of this blog’s publication, Guidewire customers are processing tens of thousands of insurance claims for the devastating wildfires in California, Oregon, and Washington.  The claims are not just for homes and businesses destroyed, but also for smoke contamination, contents damage, and living expenses due to evacuation orders.  ... Read More >
The insurance industry is quickly realizing that today’s culture is driven more and more by instant gratification.... Read More >
Insurance companies are organic institutions that evolve over time. The industry trailblazers in using predictive analytics faced new challenges and had to find their own solutions, but they experienced the benefit of first-mover status. Because the technology available was simultaneously evolving at a rapid pace, competitive advantages were found in investing in cutting-edge expertise and tools. ... Read More >
In my Trendsetters blog series, I explore 3 insurtech value propositions rated as the top emerging trends for 2020.  Email my customer facing blogs to prospects and carriers here.    ... Read More >
Today marks the 19th anniversary of the September 11 attacks in the United States, which tragically killed 2,977 people and resulted in insurance losses of more than $45 billion.... Read More >
70% of U.S. auto insurers will be using telematics UBI by the end of 2020.*... Read More >

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