claims

I’m excited that the ski season is about to start where my family and I live in Northern California. I’m even more excited we’ve arrived at Banff, the second release in Guidewire’s bi-annual release cadence! In June we released Aspen, the most important release in Guidewire’s history, where we introduced Guidewire Cloud Platform and reimagined core platforms. ... Read More >
As the insurance industry as a whole continues to feel the effects of COVID-19 in many different ways, insurers in the workers’ compensation market are keeping a close eye on claims numbers and legislative activity. According to a National Council on Compensation Insurance article earlier this month, complex COVID-19 claims are rare in frequency but have a disproportionately high impact on medical expenditures. ... Read More >
I’ve had the pleasure of collaborating with many folks here at Guidewire who are working to fulfill one of our key missions: enabling a vibrant ecosystem that insurers can harness to accelerate innovation and differentiate. This is a goal we have not just as a company but as a participant in the P&C industry. Recently there’s been a tremendous amount of momentum in this area. The introduction of new integration approaches and developer tools, along with the pace at which new partners are signing on to participate in the Guidewire Marketplace, has resulted in a huge increase in the number of apps available. We’ve also introduced entirely new categories of solutions such as virtual claims inspections and AI-powered fraud detection. ... Read More >
Claims is such a critical component of our business, given that it’s one of the only touchpoints with the consumer. Industry reports show how closely aligned the human touch and self-service preference options are. Surprisingly, preference options don't deviate by age until consumers are well into their 60s, so it's not about self-service or human—it's both. Consumers want to choose the best service option for them at the time of the transaction. ... Read More >
The current COVID-19 outbreak and mitigation efforts around the globe have impacted nearly every part of life, and P&C insurance is no exception. With vast numbers of people in the United States working from home, sheltering in place, and driving much less, we continue to look at how the resulting reduction in exposure from these mitigation policies is significantly impacting bottom lines for personal auto insurance. ... Read More >
The current COVID-19 outbreak and mitigation efforts around the globe have impacted nearly every part of life, and insurance is no exception. While many industry experts have hypothesized about the overall implications for the P&C sector, and insurers are analyzing their books of business, we at Guidewire are extrapolating from transactional data to better understand emerging patterns. ... Read More >
More than 100 insurers, insurance technology providers, partners, members of the media, analysts, and other experts met at the 2019 Strategy Meets Action (SMA) Summit on December 4 to discuss 2019’s hits and misses and what’s coming next. It was, as always, a full and enlightening day. Two clear themes emerged early this time around and stuck with me throughout the day:... Read More >
Digital transformation is a phrase used frequently in the insurance industry, and for good reason – keeping up with an increasingly digital and mobile world is critical for continuing to meet buyers’ needs. This transformation, like any major change, is rarely easy, and it can be particularly difficult for commercial lines insurers to know where to start.... Read More >
In 2020, digital customer experience continues to be a top priority for the insurance industry. Consumer demands are driving digital evolution and forcing the industry to embrace an accelerated pace of change and exponential advances in technology. Insurers are seeking new strategies to develop technological capabilities, access new channels, and expand offerings to deliver the customer experience that consumers expect. ... Read More >
Fraud is an ongoing headache for the insurance industry. The Association of British Insurers reported that the industry detected 113,000 dishonest insurance claims in 2017, equating to a value of £1.3bn. The total number of detected insurance frauds, which also accounts for practices such as lying when applying for cover or ‘ghost broking’, was over half a million at 562,000.... Read More >

Pages

Get started