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.

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.

Aug
10
2017

Next year is the fortieth anniversary of when Lloyd’s decided to make a dramatic, concrete and steel statement about its past and future.

Jul
31
2017
Jul
31
2017

The UK is becoming a country of renters rather than home-owners according to a recent government whitepaper.

Jul
27
2017

In Part One of this blog post series, I discussed some data migration approaches for Guidewire ClaimCenter®.

Jul
26
2017

In a recent webinar (Reporting and Data Considerations during Guidewire Core Systems Upgrade), we asked our attendees which core legacy system(s) – Claims, Policy, Billing, or None – they hav

Jul
25
2017

In Part One of this blog, I discussed some data migration approaches for Guidewire ClaimCenter®.

Jul
25
2017

There is a huge amount of buzz around blockchain and many explanations out there for what it is, and its likely benefits for financial services, especially banking and finance.

Jul
20
2017

Where in the world are you most likely to find a connected car? Los Angeles? London? Rome?

Jul
19
2017

In an on-demand economy, consumers expect real-time service and customer support. Through the use of chatbots, carriers can deliver real-time customer service while also improving operational efficiencies.

Jul
14
2017

Why can’t the insurance business be more like Netflix? Or Tripadvisor or Booking.com?

Jul
12
2017

Investment in Property and Casualty (P&C) InsurTech may have taken a short breather in Q1 2017, with 23 deals when compared to 27 deals in Q4 2016, or the record 42 deals in the Q1 2016.  However, interest in new innovations in the industry shows no sign of waning, judging by the record attendance at InsurTech events, in

Jul
07
2017

Of all the processes inherent to insurance, it could be argued that none are more important than the claims process. The general consensus is that claims typically account for up to 80% of an insurance company’s costs. When it is stated like that, 80% does not seem like an exceptionally large number.

Jul
05
2017
Jun
04
2017

In my first post in this series, I provided Guidewire’s perspective that we are at the early stage of a new era of P&C systems (see The Engagement Era).

May
08
2017

In a previous blog post (see The Engagement Era), I provided Guidewire’s perspective that we are at the beginning phase of a new era of P&C systems—the engagement era.

May
02
2017

Insurtech startups are driving innovation in our industry. They are unhindered by carrier applications and culture, so they are able to swiftly target microsegments and deliver unique and streamlined customer experiences. In my first blog in this series, I shared the FinanceFox value proposition.

Apr
26
2017

I believe there has been more change in the P&C insurance industry over the last two years than in the previous 10 or, arguably, 20 years. The trends of change have been well documented and I won’t cover them here. Suffice it to say, the pace of change will accelerate in the years ahead.

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