Reflections on Ecosystem Innovation in 2021 and a Sneak Peek of 2022
As an insurer reading this, you know that innovating and differentiating vendor offerings is not always easy. The PartnerConnect Solution program and Guidewire Marketplace work cohesively together to accelerate delivery of products and platform extensions and showcase innovative companies and the solutions that offer additional value to our customers.
Guidewire has steadily built the largest and most vibrant ecosystem of development partners in the P&C insurance industry. The Guidewire PartnerConnect program is at the center of working with our Solution partners to help insurers reduce time to value and provide easy access to innovation with pre-built, Ready for Guidewire validated integrations. Guidewire Marketplace enables our customers to discover these pre-built applications from hundreds of solutions built by established players and the latest insurtechs, allowing our customers to drive and test innovation quickly and easily. Guidewire Marketplace is robust and more than 2.5 times the size of other major core systems provider ecosystems in P&C insurance, giving our customers more choices. As Karen Furtado, Partner, Carrier Transformation, Strategy Meets Action, shared with her audience at our recent Guidewire Connections Conference, “Open systems are key and vendors such as Guidewire that has a vibrant ecosystem can bring to light the type of capabilities that insurers really want to roll out in the market.”
In 2021, we had strong growth and added more than 40 new partners to the Guidewire Solution ecosystem which is now more than 140 members strong! Our ecosystem provides more than 170 applications covering over 40 different categories, offering a diverse set of innovative solutions to choose from for both InsuranceSuite and our InsuranceNow products. The quality of the applications available from our partners provides measurable value to our customers.
Bas de Graaf, Global Partner Manager, FRISS, an Advantage tier Solution partner indicates, “After a number of successful implementations with the DevConnect add-on, we noticed up to 40% reduction of the required IT effort for both FRISS and our clients. The high degree of standardization with DevConnect enables a low code add-on implementation.”
Charlie Hanna, Senior Alliance Manager at Hyland, Premier Solution tier partner, noted that “Through five versions of the OnBase Ready for Guidewire accelerators, we have seen customer solution delivery costs reduce by as much as 50% through to our most current release.”
Kevin Ostrander, Chief Sales Officer of One Inc, an Advantage tier Solution partner reports, “We cut off about 6 weeks of deployment and integration time using the One Inc accelerator.”
Another exciting growth area for our ecosystem in 2021 was the launch of Insurtech Vanguards, a new initiative to help insurers learn about the newest insurtechs and how to leverage them. Our goal is to incubate these companies and work with them toward participation in the broader PartnerConnect program. We launched the program with our inaugural Insurtech Vanguards: Attestiv, MakuSafe, Roost, Zensurance, and Zesty.ai. We are excited to introduce the latest member companies:
Bindable – The Bindable platform enables carriers to grow through alternative distribution, product diversification and market expansion.
BrokerLift – BrokerLift provides a turnkey eCommerce platform for insurance brokers to instantly enable online sales and service to their customers.
Chisel.AI – Chisel AI delivers purpose-built AI solutions for commercial insurance that read and extract unstructured data trapped in digital insurance documents.
Click-Ins – Click-Ins digitizes and automates vehicle inspections without the need for special equipment or skilled personnel, enabling companies to assess the true condition of a car anytime, anywhere.
Maptycs – Maptycs offers a geospatial assessment tool that integrates client data with external location-based and climate change data, to assist businesses define accurately their property risk exposure.
MotionsCloud – The company automates inspection processes by providing an AI Damage Assessment Engine for property and vehicle insurance carriers.
ReFocus AI – Generate 10% more revenue with ReFocus AI by anticipating customers’ product needs (with >90% confidence) to drive awe-inspiring individualized encounters
In 2022 and beyond we see a massive opportunity to be unlocked with the move to the cloud, and with the innovation of our ecosystem partners, and creativity of our insurers.
We encourage those that are interested in staying current to subscribe to our Marketplace newsletter for information on the latest developments in the Guidewire Ecosystem!