insurance

Nov
07
2017

Eyes on anything. Anytime. Anywhere. So you can know what’s true.

Anyone who is a parent of a teenager, pre-teen, kindergartener, etc., or just a parent in general, will instantly relate to WeGoLook’s tag line. Read on to learn about how, as a carrier, you can also have eyes on any risk at any time.  

Who

Nov
02
2017

Things Consumers Would Give Up To Use Messaging

Oct
31
2017

Understanding why Superman can fly and run faster than a speeding locomotive is something many European insurers might want to consider.

As every comic hero fan knows, Superman had superpowers on Earth because his physique was optimized for living on Krypton, a world with much more extreme environmental conditions.

Sep
29
2017

Historians use eras to help map out the big gearshifts in economic and social change in retrospect.

For the people who lived during those periods, well-known historical terms like the Middle Ages would have been unknown. For example, a medieval peasant knew they were a peasant but not that they were a medieval peasant.  Medieval was a term first coined in 1604, more than a hundred years after the Middle Ages are said to have ended.

Jul
31
2017
Jul
31
2017

The UK is becoming a country of renters rather than home-owners according to a recent government whitepaper.

Jul
25
2017

There is a huge amount of buzz around blockchain and many explanations out there for what it is, and its likely benefits for financial services, especially banking and finance.

Jun
04
2017

In my first post in this series, I provided Guidewire’s perspective that we are at the early stage of a new era of P&C systems (see The Engagement Era).

Nov
30
2016

I recently enjoyed congregating with insurers, regulators, venture capitalists, and software vendors of all sizes to tease out how big data, analytics, and artificial intelligence are causing irreversible climate change in the insurance ecosystem. The topics at Insurance Disrupted included:

Sep
21
2016

That statement sums up what millennial small business owners know about insurance; in essence, not much. In a focus group we conducted to better understand the needs of this unique cohort, we heard this statement, as well as the amusing consensus of the group that older people must know more about insurance.   

Sep
14
2016

Recently I conducted a focus group of Millennial policyholders to understand their unique perspective on buying insurance. A clear message that resonated from the group was they don’t want to purchase insurance the way their parents do. Insurers understand this and are overhauling how they target, sell to, and service this unique cohort.

Jan
20
2016

While watching Roger Federer play in the U.S. Open a few months ago, the commentators reminded viewers what a big deal it was that he had switched to a new tennis racket last year. To the casual fan, changing rackets would seem like a very nonchalant activity. For Roger Federer, who has won more Grand Slam tournaments than any other men’s tennis player in history, change is not something that equates to success.

Jan
07
2016

On a recent plane ride back home from a customer visit, I watched the movie San Andreas. Almost instantly my thoughts went back to few weeks ago when I was awakened around 2:45am by a 4.0 quake. The epicenter was about 8 miles deep but only about 1 mile away on the ground from where I live. Nevertheless it was powerful enough to wake me up. I also remember feeling a minor aftershock a few minutes later.

Dec
02
2015

Marcus Ryu’s kickoff presentation at Guidewire’s Connections 2015 started with an appropriate reference to Lloyd’s Coffee house in London. Not only was Lloyd’s the birth place of insurance, but it was also home to the seafaring population of London in the 1700s.

Aug
12
2015

I’ve worked at Guidewire, a servant of the Property/Casualty insurance industry, for more than nine years. I feel privileged to know people who have worked in, and in support of, the industry for thirty years or more. Based on what I have seen and learned, I feel confident in this observation: P/C insurance has changed more in the last few years than in the previous few decades, and the pace of change will continue to quicken in the years ahead.

Aug
06
2015

In my previous post, I discussed how analytics can help identify insurance fraud, but how can this be applied in the real world? There has emerged a relatively new technology specifically made to analyze and store relationships or graphs with blazing speed and flexibility. A graph is any type of networked data.

Aug
04
2015

Insurance is a big industry. In the U.S. alone, 7,000 companies collect over $1 trillion of premium a year, resulting in an extremely attractive market for fraud. The FBI and NICB (National Insurance Crime Bureau) estimates that roughly 10 percent of all non-health insurance claims totaling $40 billion a year are very likely fraudulent.

Apr
01
2015

I love golf. So much so that my wife often questions my sanity. It’s my favorite sport to play and watch, but the latter only when I’m already sleepy and not playing golf. Why do I bring this up in a Guidewire blog? Golf holds a lot of similarities to building product, any kind of product, whether it’s a software product or an insurance offering. 

There are different aspects to both that hold key similarities. For simplicity, let’s break down building product into three buckets:

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.

Mar
14
2013

Alternatively, you could go with a recruiting pitch of: Join our team - it’s like working in The Matrix!

Aug
14
2012

Like millions of other people around the world, I’ve been glued to my television for the past couple of weeks, taken in by the spectacle that is the Olympic Games. To me, the Olympics represent competition and sportsmanship at the highest possible level, and it’s been a lot of fun to watch. However, in between all of the heartbreak and glory, I can’t help but wonder – what do the Olympics have in common with the property/casualty insurance industry?