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.

How do you define “moving to the cloud”? The old cliché “Beauty is in the eye of the beholder” applies just as well to the definition of the cloud. It’s become a catch-all phrase for which people have their own definitions. Often when you think of the cloud, the common connotation and benefits are immediately around technology: simplifying IT by eliminating servers, reduced IT risk by removing data center operations, and increased security by centralizing software operations. ... Read More >
When Guidewire announced the three winners of its 2018 Innovation Awards, I took a close look at the projects to find any similarities among them. They are indicative of the shift the entire P&C insurance industry has made in the past 5 to 10 years – prioritizing the customer experience. According to the “J.D. Power 2018 U.S. Insurance Shopping Study,” record-low volumes of new insurance shoppers, consistent price competition among insurers, and emerging InsurTech disruptors have forced insurers into aggressive customer courtship mode. No matter what’s behind the shift, it’s clear: The customer, whether it’s the policyholder or the agent/broker, is at the center of large P&C initiatives. ... Read More >
The conversation around insurance underwriting, particularly in complex environments like commercial lines, has been active over the last few years. Underwriting teams are finding it necessary to adapt to a changing universe that requires faster, more accurate quoting. This requires using an ever-growing pool of data resources that are only getting more complex themselves, while also serving as the front line for agent and broker relations. ... Read More >
Fair is an alternative to traditional car ownership with an app that lets a customer shop, get approved, and pay for their next car — all on their smartphone. Fair is a used-car alternative. It offers low monthly payments without tying the customer to a lengthy loan. Drivers can return their vehicle whenever they want with five days' notice.  ... Read More >
In May 2018, we announced the launch of Guidewire’s first P&C insurance customer relationship management (CRM) applications for Salesforce Financial Services Cloud. Prior to the announcement, I was excited to learn about the offerings and the work that went into it, and I had so many questions. At the top of the list was “Are there customers using it or in line to use it?” ... Read More >
Hearsay Systems helps insurance advisors deliver meaningful touchpoints when and where clients want it — on social and mobile. Hearsay’s mission is to “power advisor-client relationships and productivity in the digital age.” ... Read More >
No financial organization wants to consciously or deliberately cooperate in money laundering practices or even terrorism, and that certainly applies to insurance companies. ... Read More >
Betterview provides high resolution images and data on risks from drones, satellites, and manned aerial vehicles to support more accurate underwriting and claims handling. With access to better data throughout the property insurance lifecycle, insurers can better assess damage, mitigate risk, and make better decisions. In essence, a better view of risks. ... Read More >
The three main use cases FRISS supports are: FNOL Fraud Detection – detects fraud during creation of the claim. For example, a staged loss or similar previous claim.  Referred to the Special Investigative Unit (SIU) – FRISS provides case management tools which allow the SIU team to assess alerts and manage the claims until its closure. Underwriting – fraud can be prevented by feeding back into underwriting claim history based on inputs like driver’s license.  ... Read More >
In the two previous posts in this series, I discussed the struggles that ABC Insurance’s customer service representatives had interacting with customers and agents.... Read More >

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