4 methods Guidewire helps insurers remodel in 2022 | Insurance coverage Weblog

Simply earlier than the vacations, it was my nice pleasure to as soon as once more attend Guidewire Connections. This gathering of insurance coverage professionals provided contemporary views on the disruptions of the final couple of years and the way the business is shifting ahead.  

Listed here are 4 key take-aways we convey with us into the brand new yr: 

1. Cloud transformation is about “when” not “if” 

Cloud is enabling actual enterprise worth; not simply price take-out. Of their presentation, Accelerating Cloud Transformation on Guidewire Cloud Platform, Corey Barker and Keval Mehta shared how price take-out is simply the tip of the iceberg. Transferring to the cloud allows digital innovation, data-driven insights, and the agility to innovate rapidly to develop and simplify what you are promoting. 

The advantages enabled by the Guidewire Cloud Platform are proof optimistic. Guidewire has made nice strides in maturing their SaaS providing over the previous two years. A lot of our purchasers have already began on the journey. Others have indicated that their choice to maneuver isn't IF however WHEN. 

2. Enabling velocity to market 

Newer capabilities are creating the flexibility to get new merchandise to market rapidly by leveraging the vastly enhanced Superior Product Designer function. This may help carriers change into digital attackers in new strategic development areas and get area of interest merchandise out to market. 

3. Evolving to a data-driven group 

Guidewire is constant their efforts to assist carriers evolve to a data-driven group with the launch of their analytic answer. At Accenture, now we have labored to assist carriers change into data-driven in all the things they do. Seeing elevated efforts on this space by Guidewire permits a extra cohesive method to data-driven all the things through the Guidewire platform sooner or later. 

4. Harness the ability of the ecosystem for max worth throughout the enterprise 

The affect platforms can have on operations has vastly expanded. Guidewire spoke of their companions as important parts of the sturdy end-to-end options insurance coverage purchasers want. Whether or not or not operations transformation is a excessive precedence for the provider, it’s by no means too quickly to start out considering greater on the function new revolutionary options can play in end-to-end enterprise operations. 

Study extra about Accenture’s partnership with Guidewire. 

Study extra about Reimagining insurance coverage: The brand new cloud crucial

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