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
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:

Mar
14
2014

When potential software buyers are evaluating different options and third party solutions, they typically brainstorm and refine a long list of required functionality or performance concerns that must be addressed by the software in question. One of the first tools identified to resolve these questions is the formal proof-of-concept (POC.) Here is some food for thought when planning your next POC.

Mar
11
2014

The Guidewire team considers it an honor to serve more than 150+ Property/Casualty insurers around the world. We believe that society could not function without P/C insurance and we know that insurance professionals care deeply about being there for their customers, about providing peace of mind and when needed, top quality service. We decided to create this short video that expresses our admiration for the industry we serve. I hope you like it.

Feb
21
2014

The ability to handle claims is important. In fact, for many it is probably the most important function of an insurer – at least from an individual policyholder’s perspective. However, policyholders, and insurers, are hoping that losses can be avoided and that function wouldn’t be necessary. Ever. So for most people, who do not understand the risk transfer benefits of insurance, it is perceived as an expense to be minimized.

Jan
24
2014

Part Two – Tracking Key Metrics and Identifying Readiness

Jan
22
2014

I hate the word “actionable.” I know it’s all the rage in business intelligence marketing-speak, but it implies that complex processes and strategies can be reduced to “see this, do that.” We at Guidewire Live chose the motto “From Guessing to Knowing” because truly understanding what’s happening in your business often has value that may not be so simple to describe.

Jan
15
2014

I’ve been intrigued by telematics for a while now… but then again, who hasn’t? However, even with a level of engagement and understanding of the benefits, especially considering most insurers promise only positive impacts, I still don’t have a ‘pay-as-you-drive’ policy. To be fair, I haven’t had much opportunity, as there hasn’t been a significant push in my region. However, I am already even more intrigued by the advent of self-driving cars….

Jan
13
2014
Jan
09
2014

Part One – Key Metrics Needed for Identifying Readiness

Dec
20
2013

Well, here we are in the penultimate week of December with another year having flown by. At least once an orbit, we owe it to ourselves to have a look at what's transpired and where the trends will take us in the year to come. Here are my votes in core P/C (Property/Casualty):

Global cross-pollination

Dec
18
2013

A frequent question that arises when planning any large IT project:

“How do I manage the dependencies between all of this integration work going on at the same time?”

Nov
19
2013

The request for proposal process (RFP) used by many insurers to evaluate software packages and vendors is broken. While we at Guidewire welcome every RFP, I believe there is a better way for Property/Casualty insurers to assess vendors at this stage of their evaluation process.

Nov
14
2013

The business transformation journey often requires a systems transformation to enable the business to be more agile in the market, improve customer loyalty and satisfaction, while optimizing cost structure. For system transformation or upgrades using agile, the question of how do you know when you are done frequently arises.

Nov
07
2013

Last month, Guidewire hosted Connections 2013, our 9th annual User Conference. We often talk about the “Guidewire Community,” and nowhere is it more apparent than at Connections. As I walked around the opening reception on Sunday night, I couldn’t help but to notice the palpable energy in the room. It was just the beginning of what would be an action-packed conference over the next several days. We were pleased to welcome over 800 customers and partner attendees.

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