Hakuba: Guidewire’s Newest Release Drives Profitability with Autopilot Workflow Service and More

Hakuba: Guidewire’s Newest Release Drives Profitability with Autopilot Workflow Service and More

Satyen Paneri

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Guidewire’s eighth release takes us to the far east, Hakuba (huh.koo.buh), a village in the Japanese Alps, just outside the city of Nagano, and host of the 1998 Winter Olympics. The Hakuba valley is a part of the spectacular Japanese Alps and has a skiable area of 200 hectares (494.2 acres) with 13 ski runs. The base elevation is 760 meters (2,493 feet) and rises up to 1,831 meters (6,007 feet).

Similarly, the Hakuba, our eighth release of Guidewire Cloud, the second one since we moved to a three-cloud-releases-per-year cadence, scales new heights by enabling insurers to innovate continuously. Hakuba drives profitability for P&C insurers with the new Autopilot Workflow Service, expanded commercial lines offerings, and enhancements across the Guidewire platform, applications, and content. Here are some of the top innovations:

Autopilot Workflow Service (Early Access): Improve process agility by orchestrating automation across the P&C insurance lifecycle. A powerful new cloud service empowers technical and non-technical users to accelerate automation with low-code tooling and out-of-the-box integrations to InsuranceSuite APIs and third-party services. Business process logic is externalized from InsuranceSuite, allowing insurers to reduce downtime. The Autopilot Workflow Service is available as early access for claims automation.

Integration Data Manager: Simplify data management and improve governance with a new way to store and use third-party data such as fraud assessments, credit reports, property flood reports, and motor vehicle reports with InsuranceSuite. Third-party data is stored externally and displayed in InsuranceSuite for use with business rules without having to extend the InsuranceSuite data model. Integration Data Manager ensures integrity as third-party and InsuranceSuite data are kept separate and streamlines the developer experience by retrieving third-party data using the Integration Gateway and creating pools of data for specific purposes.

Rating App (Early Access): Accelerate speed to market with a new externalized cloud microservice for deploying rates and integration with PolicyCenter and BillingCenter. The Rating App reimagines the rating process with agility, speed, and a new user experience. Rate developers and actuaries can create and change rates quickly and easily with the ability to re-use and share individually versioned rating artifacts.

London Market Journal Financials: Empower underwriters with a complete picture of the financials for their London Market policies within PolicyCenter. A new view called Journal Financials provides both summary and granular, transaction-level views of bound policies. The view includes information such as agreed and settled premium, deferred acquisition costs, and earnings.

Cyence Model 6: Empower underwriters to make confident decisions with the most current view of cyber risk from Cyence Model 6. The cyber risk landscape is constantly changing with new threats such as multi-prong ransomware attacks and data breaches. To keep up with the latest cyber risk trends and threats, Model 6 adds new and updated cyber risk data from more than 900 sources including the latest cyber incidents and claims. The event models are retooled to generate more accurate insights. Model 6 is more advanced in predicting ransomware attacks, data breaches, business interruptions, and modeled losses than Model 5.

I invite you to watch the Hakuba Release Highlights to learn more about the release. The Hakuba web page also has the full details of the release, such as additional new features, videos, media announcements, and a form where you can sign up to be kept informed for the next release.

Westwards and onwards to Innsbruck!