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.

Mar
06
2015

Most customers start thinking about making many widespread changes to their IT landscape as part of a core system replacement project. Even though the goal may be business transformation, it makes sense to consider what technology benefits can also be realized.

Feb
13
2015

In a prior life I worked as a business systems analyst for a global hard drive manufacturer. After successfully navigating the Y2K crisis, we found ourselves inundated with custom report requests.  We did an analysis and found that our enterprise system had over 2,000 custom-coded operational reports, only 70 of which had been run in the last 90 days. Of course, the actively-used reports were the source of endless user complaints and enhancement requests.

Feb
12
2015

One of the biggest challenges faced by the U.S. Homeowners insurance industry are the losses driven by hazardous or poor maintenance conditions. There are many unknowns when a risk is being underwritten and field inspections help carriers learn more about the conditions of the structure and the property.

Feb
02
2015

We’ve been experiencing an unprecedented investment by small-to-mid-sized carriers in policy, billing and claims transformation programs. This is creating the foundation for future strategic initiatives, such as digital strategy and data analytics.

Feb
02
2015

As the 2015 tennis season’s first Grand Slam event, the Australian Open, began, my thoughts turned to a quote from the legendary Arthur Ashe: “Success is a journey, not a destination.” A winner of the event in 1970, Mr. Ashe recognized that success requires constant pursuit.

Jan
27
2015

One year ago, I told you a story about a VP of Claims who staffed up to improve her subrogation collections on personal auto claims, and I mentioned that we would continue supplying her with updates on 

Jan
20
2015

I have spent the bulk of my software career as a member of the sales camp. My comfort zone is nurturing big ideas and helping to motivate clients to embrace change. It is thrilling to earn the right to engage with clients through the decision-making process, help clients gain confidence that transformation is possible, and support the first steps in vision execution. Pretty lofty, I know.

Jan
16
2015

Storytelling can be very impactful in a host of business settings. The most impactful part of Guidewire’s marketing is to provide a forum for our customers to tell their stories. For example, at Connections, Guidewire’s annual user conference, more than half of the sessions were led by customers sharing their stories with their peers.

Jan
15
2015

Last month, an associate professor at Harvard Business School gave the world an inadvertent lesson on opportunity cost when he spent several days taking a f

Jan
08
2015

In most large IT organizations, there are many projects in-flight at any moment in time, at various stages of maturity. Without a consistent technical perspective across these projects, things can go haywire, with enterprises forced to support too many disconnected interests and technologies. This can lead to some interesting conversations for external partners trying to figure out the company’s IT landscape:

Q: “What kind of tool do you use for X?

A: “All of them.”

Jan
06
2015

As insurance carriers increasingly transform their policy administration systems to provide more self-service options to their agents, they must be mindful of the possible business disruptions these changes may cause.

Dec
17
2014

Recently, we’ve seen increasing interest from small-to-mid-sized carriers in transforming their policy administration systems. One of the biggest considerations for this type of business transformation is organizational change management. Organizational change management is one of the hardest areas to change, but is key not only to minimize disruption during the change, but also to enable adoption and realization of the business benefits.

Dec
05
2014

Converting a policy administration system is not an easy job or investment. A poorly-done conversion can result in inadequate resources and inaccurate data, leading to skepticism about the system’s quality, lower productivity and a negative impact on the bottom line.

Sep
22
2014

Today’s insurance market is driving a need for increased responsiveness to changing conditions - consumer demands, regulatory changes, and competitive threats. To meet this need, insurers are transforming to increase their speed to market for product changes.

Aug
04
2014

I am often inspired by the passion that claims people have to deliver for their customers. This is most apparent when an insured has had a loss that really disrupts their life and that of their family’s. Here is a video from CAA that talks about how they responded to one of the most catastrophic storms in Canadian history. This video and all videos produced by Guidewire use our customers’ own words and stories. We never provide scripts for people to follow.

May
27
2014

At Guidewire we use major releases (which are numbered 8.0.0, 9.0.0, for example) of our products to roll out important new features, improvements in integration capabilities, support for newer versions of other technologies in the stack (application servers, database, etc.), among many other benefits.

May
21
2014

In my last blog, I wrote about the potential value for both policyholders and insurers of market segmentation – creating ‘boxes’ that meet specific shopping (marketing), buying (quoting), using (servicing), and assessing (renewing) needs.

May
07
2014

As a consumer, I am getting used to a more individualized experience. These experiences are often driven by ‘loyalty’ cards that trade ‘points’ for my personal information, habits, etc. It seems worth it, and I understand the value to both sides. It makes sense. Applying that experience to insurance also makes sense – loyalty (a.k.a. retention) is a key metric for insurers. The problem is, I don’t often see the value to me as the policyholder.

Apr
14
2014

One of the most common questions I’m asked is, “You’ve helped lots of insurers build core system business cases. What does the business case usually look like?” Here are a few thematic truths we’ve uncovered:

Business cases are like snowflakes

Apr
08
2014

According to JD Power's most recent claims satisfaction study, “the most important metric in claims” is cycle time—specifically, time till customers get paid. And it just so happens that for the third year in a row, the best in the business is a Guidewire ClaimCenter customer:

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