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November 1, 2019 at 8:55 AM EDT

Guidewire Announces 2019.2 Release of P&C Insurance Industry Platform to Enhance Experiences for Policyholders, Agents, and Insurer Staff

HIGHLIGHTS:

Guidewire InsuranceNow user experience redesign including a completely re-imagined modern user interface.

Expanded Guidewire Digital for Salesforce capabilities with near real-time data synching across Guidewire PolicyCenter and Salesforce Financial Services Cloud; Global Search across both systems; Views on Demand of Policy, Billing, and Claims information; and Embedding of Guidewire Digital policy lifecycle transactions (e.g., Quote & Bind for Workers’ Compensation).

Reduced implementation time and total cost of ownership (TCO) with the extension of ETL automation in Guidewire DataHub into the extract phase.

Guidewire PartnerConnect Solution ecosystem reaches more than 60 third-party solution providers, including established providers and Insurtechs to help insurers innovate and realize time to value quickly.

SAN MATEO, Calif.--(BUSINESS WIRE)--Nov. 1, 2019-- Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, announced the 2019.2 release of Guidewire InsurancePlatform. This latest release extends support for insurers’ imperatives to optimize operations, deliver omnichannel digital service to customers and agents, use data in new ways, innovate quickly, and simplify their IT operations.

“InsurancePlatform 2019.2 demonstrates Guidewire’s commitment to continual investment in InsurancePlatform for our self-managed and cloud customers,” said Amy Mollin, Vice President, Product Management, Platform, Guidewire. “This release adds new functionality to our Guidewire for Salesforce solution, available on AppExchange, including two-way synchronization between Guidewire Digital and Salesforce Financial Services Cloud. For InsuranceNow, we have also improved independent agent experience and connectivity to help insurers increase loyalty to their brand.”

Guidewire InsurancePlatform has been designed to power the P&C insurance business, in support of the following key insurer imperatives:

Optimize operations: InsurancePlatform optimizes operations by embedding best practices and efficiency into insurer core processes. This provides standardization and scalability, while also enabling insurers to reimagine what’s possible.

  • A modernized user experience in InsuranceNow includes dramatically enhanced workflow and navigation.
    • New user experience creates a more intuitive, modern system that solves real world pain points around navigation and user interaction.
    • More efficient use of screen real estate and efficient workflows reduces clicks, saving users’ valuable time.

“We are excited to offer key enhancements for our InsuranceNow customers in our 2019.2 release, including a fresh, completely redesigned user experience,” said Zachary Gustafson, general manager, InsuranceNow, Guidewire Software. “We are very pleased that our customers and their agents can now benefit from this multi-release initiative.”

Use data in new ways: InsurancePlatform helps insurers drive smarter, faster decisions across the insurance lifecycle by leveraging analytic and data science techniques and delivering actionable insights at the time key decisions are being made.

  • Improve efficiency of ETL development and reduce the total cost of ownership (TCO) in DataHub with the extension of Guidewire Data Integration and Automation Layer (DIAL) to the ‘extract’ phase with two new capabilities (1) DIAL Switchboard Interface and (2) DIAL Transfer.
    • Together these leverage PolicyCenter metadata to understand and automatically extract new LOB content into DataHub.
  • Help Claim Managers and VPs better understand increases in claim severity with a new Claim Severity by Loss Date InfoCenter report and updates to the Claim Severity data mart.
  • Provide expanded risk evaluation capabilities with the addition of an accumulation event for ransomware in Cyence Risk Analytics for Cyber Risk Management. Model 4 (announced 9/24/19) also provides the stability, granularity, and traceability of model outputs to enable Enterprise Risk Managers to efficiently report, better explain, and more accurately formulate capital decisions.

Improve digital engagement: To meet rising digital expectations, InsurancePlatform 2019.2 helps insurers increase engagement by delivering consumer-grade, omnichannel digital experiences to insurer prospects, policyholders, agents and brokers, service representatives, and repair vendors.

  • Enhancements to the Guidewire for Salesforce app available here* on AppExchange, the world’s leading enterprise apps exchange, deliver insurance CRM with improved customer insights and better access to data. This release includes support for the latest insurance-focused enhancements in Salesforce Financial Services Cloud (June and Winter ’19 releases) and includes:
    • Near real-time data synching between Guidewire InsuranceSuite and Financial Services Cloud.
    • Global Search across InsuranceSuite and Financial Services Cloud.
    • Expanded views on demand of policy, billing, and claims use cases.
    • Quote and Bind out-of-the-box for five lines of businesses, now including Workers’ Compensation.
    • Synching of Activities & Notes, and Submissions & Opportunities.
  • A new set of InsuranceNow REST APIs for quoting and issuance enables streamlined agent experiences.
    • By adopting these APIs, insurers can quickly implement custom, in-house portals that can enhance the user experience for independent agents and increase loyalty to their brand.

Innovate quickly: To empower insurers to respond to changing competition and new entrants, InsurancePlatform provides the ability to quickly introduce, test, and optimize new business models.

  • Customers can reduce InsuranceSuite integration cost and effort through more than 115 Guidewire validated third party solution integrations currently available for download in the Guidewire Marketplace.
    Since the 2019.1 InsurancePlatform release (May 7, 2019):
    • Six new Ready for Guidewire add-ons have been validated and published (from Advanced Remarketing Services, Livegenic, Mirror Technologies, Ontellus, TruePic, and WeGoLook).
    • Six new Ready for Guidewire accelerators have been validated and published (from ACI, Insurpay, ISB Canada, SambaSafety, Utilant, and ZipWhip).
    • New PartnerConnect Solution partners joining the program include: Arity, Compex Legal, Donan, Enservio, eviid, Fenris Digital, Hearsay Systems, Kube Partners, Loveland Innovations, OneSpan, SambaSafety, and Shift Technology.
    • New PartnerConnect Consulting partners include: Alchemy Technology Services, Climb, and LTI.
      • There are now 9,000 System Integrator consultants globally trained in Guidewire InsurancePlatform products.

Simplify IT complexity: InsurancePlatform 2019.2 reduces IT complexity and minimizes the operational burden for InsuranceNow customers via InsuranceNow GO.

  • New, out-of-the-box, no-code cloud deployment offering brings delivery best practices together for a faster InsuranceNow implementation effort.

Guidewire InsuranceSuite has been positioned as a Leader, and Guidewire InsuranceNow has been positioned as a Challenger in Gartner’s Magic Quadrant for P&C Core Insurance Platforms, North America1. Guidewire Software has also been positioned as a Leader in Gartner’s Magic Quadrant for Non-Life-Insurance Platforms, Europe2.

1Gartner Magic Quadrant for P&C Core Insurance Platforms, North America, Sham Gill, James Ingham, September 10, 2019.
2Gartner Magic Quadrant for Non-Life-Insurance Platforms, Europe, Sham Gill, October 24, 2019.

Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

*The 2019.2 release of Guidewire for Salesforce will be generally available in late November.

About Guidewire Software

Guidewire delivers the industry platform that Property and Casualty (P&C) insurers rely upon to adapt and succeed in a time of accelerating change. We provide the software, services, and partner ecosystem to enable our customers to run, differentiate, and grow their business. We are privileged to serve more than 380 companies in 34 countries. For more information, please visit www.guidewire.com and follow us on twitter: @Guidewire_PandC.

* Not all products are available in every geography. Guidewire customers can get more information from their Account Executive.

NOTE: All products mentioned in this announcement (other than Salesforce and Salesforce Financial Services Cloud) are Guidewire products. For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

Source: Guidewire Software, Inc.

Diana Stott
Director, Communications
Guidewire Software
+1 650-356-4941
dstott@guidewire.com