- Lloyd's report highlights reputation as one of the most valuable intangible assets to global businesses
- LMG and Willis Towers Watson publishes latest report reflecting on the lessons learnt from lockdown
- New report reveals online insurance claims pain during COVID-19 as consumers demand better digital services
- Aviva to sell its 50% shareholding in Italian JV Aviva Vita
- Insurance Europe publishes response to the European Commission’s roadmap for the review of VAT rules for financial and insurance services
- Caura adds mobile-first motor insurance product to all-in-one car management app
- Praedicat developes scenarios designed to help insurers that have a clash risk from coronavirus that impact general liability and directors & officers(D&O) lines expired
- RMS collaborates with Willis Re and Securian Financial on launching the first Indemnity-Based Mortality Catastrophe Bond expired
- Whitespace adds unique video calling capability within the platform expired
- Inigo completes capital raise of approximately $800m expired
- Ki platform goes live with partner brokers expired
- MAPFRE MSV Life in Malta goes live with Sapiens’ life & pension core suite and digital solution expired
18th November 2020
Guidewire announces Banff availability and vision for the future of P&C claims
Guidewire Software has announced availability of Banff, the latest release of its cloud platform. Banff will be unveiled at Connections Reimagined, Guidewire’s customer conference today and tomorrow-register at connections.guidewire.com.
In addition to the Banff release, Guidewire will also outline its vision for the future of P&C claims at Connections Reimagined. “Guidewire believes that claims handling is entering a new era with automated claims being the default, even for complex claims. Adjusters can focus their skills and experience where they can have the most impact on customer satisfaction,” said Reshma Mani, senior director, Product Management, Claims, Guidewire. “Over the last year we’ve worked on a major innovation, called Autopilot, which demonstrates this vision.”
Autopilot, an innovative new framework in Guidewire Cloud Platform, takes an automation-first approach to claims handling in ClaimCenter. Leveraging AI, analytics, and digital technologies, claims are piloted through complex business processes quickly, enabling insurers to deliver significantly better customer experiences while lowering their operating expenses.
In June, Guidewire announced Aspen, a pivotal release, which reimagined insurance core platforms and introduced the Guidewire Cloud Platform. Banff, Guidewire’s second bi-annual release, builds on Aspen to introduce the industry's first closed-loop analytics platform to make insurance professionals “brilliant in the moment,” by providing the insight to make better decisions as they work in their core workspace. Guidewire now enables insurers to leverage their own data through Guidewire Data Platform, enrich insights with the Cyence data listening engine and use of syndicated data, embed predictive analytics scores in core workflows, and learn continuously with A/B testing and portfolio performance tracking.
Other Banff highlights include:
-CloudDirect—A new program combining tools and upgrade expert services to enable self-managed Guidewire InsuranceSuite customers to upgrade directly to Guidewire Cloud, reducing upgrade costs and streamlining planning.
-InsuranceSuite Cloud API—New API enabling insurers to easily connect with third-party systems and services, reducing integration costs and accelerating innovation.
-Product Editions—An enhancement to Advanced Product Designer(APD) enabling product changes to be made based on effective dates, increasing insurers’ ability to respond to customer preferences and market dynamics.
-Cloud-native services—Building on the cloud-native services introduced in Aspen for rating and business rules, new cloud-native services (including inbound payments and disbursements) increase business agility while simplifying IT operations.
-Cyence risk insights—New features(including support for cyber risk assessment with Remote Desktop Protocol(RDP) Exposure Signal) plus technology preview of targeted ransomware event modelling, enable insurers to deliver more profitable growth.
-developer.guidewire.com—A new developer program that brings articles, blogs, videos, and more to the world-wide community of developers working on the Guidewire platform, enabling them to drive innovation and creatively address business objectives.
“We’re excited to share our latest innovations with our customer community at Connections Reimagined. Banff builds on the momentum we began in Aspen to reimagine P&C core platforms by delivering closed-loop analytics, new cloud-native services and capabilities, and APIs to empower business and IT,” said Diego Devalle, chief product development officer, Guidewire. “In addition to unveiling Banff, we’re excited to outline our vision for claims. We’ve worked with a group of our customers on our design of Autopilot and believe it will be a game-changer for the industry.”
Guidewire InsuranceSuite has recently been positioned as a Leader in Gartner’s “Magic Quadrant for Non-Life Insurance Platforms, Europe,” for the third consecutive year. In addition, Guidewire InsuranceSuite has been positioned as a Leader for the sixth consecutive year in Gartner's “Magic Quadrant for P&C Core Platforms, North America.”
This week, Insurance Newslink discussed market issues and positioning with Guidewire senior management over Zoom-we will report on the key topics shortly.
Guidewire Trends(426 articles)