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Guidewire delivers the software that Property and Casualty (P&C) insurers need to adapt and succeed in a time of rapid industry change. We combine three elements –core operations, data and analytics, and digital engagement –into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 300 P&C insurers around the world have selectedGuidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
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Learn more about how Guidewire’s digital platform is meeting the needs of more than 250 Commercial lines insurers.
No matter the industry segment—retail commercial, mid-market, large commercial, specialty or London markets—we’re committed to Commercial lines.
Guidewire serves more than 350 customers around the globe, and more than 250 of them are actively addressing today’s challenges in commercial lines…
A vast new universe of data is coming from internal and alternative sources. It needs to be harnessed and integrated into core processes, including underwriting and pricing. Guidewire’s Data and Analytics products enable insurers to manage data more effectively and gain insights for more accurate decisions.
There is a core operational imperative to continue automating tasks to elevate the knowledge work for underwriting, policy administration, billing, and claims. Guidewire core products provide transactional systems of record supporting the entire Commercial insurance lifecycle.
Commercial insurers need to provide tailored products and a seamless omnichannel experience. Guidewire Digital applications provide real-time, self-service experiences for policyholders, agents and brokers, customer service reps, and repair vendors—from anywhere and on any device.
Insurers are responding...
“The insurance industry is evolving rapidly, and insurers’ future success depends on their ability to evolve with it and address new customer and user demands as they emerge. Digitizing our workflow with Guidewire Underwriting Management puts FCCI in a position to proactively adapt to a changing marketplace, accelerate and improve decision-making, and ultimately enhance how quickly we respond to customers.”
—William Speaker, Senior Vice President of Corporate Underwriting at FCCI Insurance Group
“I am able to get new business quotes out to my brokers within a matter of minutes, which has been the winning factor over our competitors on a few occasions. Many of our competitors take hours to get quotes out, so the fact that we can do so in minutes makes us the go-to market when they have deadlines.”
—Alfred Goxhaj, CIO of Endurance Specialty Holdings (subsidiary of Sompo International)
“Our companies are beginning to realize benefits from the common processes and business rules we now share, and from our common Guidewire technology platform. We are already seeing both operational and strategic efficiencies, and we can leverage our shared IT skills across our Guidewire systems.”
—Sandra Baskerville, Vice President of Common Systems Development at
The Co-operators Group Ltd.
...and so are expectations
Agents and brokers need products that enable rapid decisions, quoting, and approvals to better meet policyholder expectations.
Underwriters expect sophisticated technology to speed basic administrative tasks or compliance-related work, so they can use their time to broaden their roles not just as risk assessors but as business owners, product strategists, and data scientists.
Policyholders expect engagement and service on their terms. Risk managers expect to receive insight and innovation to deal with an onslaught of new risks.
Commercial Lines Insurance Is Changing Faster Than Ever
—Karlyn Carnahan, Head of Celent’s Property
Casualty practice in the Americas
“Guidewire’s new products, which have been specifically designed to optimize the functionality provided by Salesforce, enable carriers to significantly expand their ability to support the agents and optimize a differentiated customer relationship.”
The adoption rates, impact, and pace of a digital, connected world are increasing at a tremendous rate for Commercial lines insurers. Failing to provide consumer-grade digital engagement will become a major cause of sales erosion for organizations that are slow to adapt to this new digital world. The opposite is true for those that adopt a true focus on customers.
Rapid technology change from the" Internet of Things," drones, wearable devices, and more is enabling intelligent businesses and supply chains to anticipate and respond to risks in ways never before possible.
Intelligent Business & IOT
—Ali Safavi, Global Head of Plug and Play Tech Center
“Guidewire’s major R&D presence in Silicon Valley, and history of fostering innovation, make them an ideal addition to our ecosystem.”
Our complex and ever-changing world inescapably brings new Commercial risks, including the heightened impact of climate change and the rise of 21st century risks, such as cyber risk. Insurers need greater agility than ever before.
New and Changing Risks
—Counting the Cost: A Lloyd’s Emerging Risk Report
“Economic losses from cyber events have the potential to be as large as those caused by major hurricanes.”
“We are now better prepared to outperform than our peers at a time where this may be the difference between underwriting profit and loss.”
—Scott Wollney, Founder and CEO of
Atlas Financial Holdings, Inc
Increased competition comes from both outside and within the industry. Personal lines insurers have been shifting investments toward Commercial lines for many years in anticipation of today’s environment. And, Insurtech disruptors are benefiting from a wave of technology innovation and funding.
Business & IOT