Guidewire Software Announces InsuranceSuite 8
InsuranceSuite 8 provides platform for Property/Casualty insurers to replace
their legacy systems and transform their business
SAN FRANCISCO -- October 7, 2013
CONNECTIONS 2013 – Guidewire Software, Inc. (NYSE: GWRE), a provider of
software products to Property/Casualty (P/C) insurers, today announced the
availability of Guidewire InsuranceSuite™ 8, the latest release of Guidewire’s
core system suite for P/C insurers. The culmination of 500 developer-years of
work, InsuranceSuite 8 makes it easier for insurers to replace legacy core
systems and provides a platform to help them transform their business. The new
release delivers major new functionality, many architectural and performance
improvements and deepens the native integration between PolicyCenter,
BillingCenter, and ClaimCenter, the separately implementable and upgradeable
applications that make up the suite.
InsuranceSuite 8 includes a number of significant suite-level features. For
example, a new user interface provides an enhanced look and feel and contains
many enhancements including better navigation, personalization, and improved
inline editing resulting in increased end-user efficiency and effectiveness. A
new suite-level feature, Service Tiers, enables insurers to precisely tailor
the service experience across underwriting, policy administration, billing,
and claims to individual policyholders. InsuranceSuite 8 also provides
enhanced capabilities for insurers who are focused in the London Insurance
Market and/or operate across international borders. These include broader
support for multiple currencies and region and country-specific formats as
well as improved support for large commercial risks, particularly those
involving long schedules of locations or exposures.
To date, more than 150 insurers of all sizes, across a range of personal,
commercial, specialty and workers’ compensation lines of businesses, in 17
countries, have selected one or more core systems from Guidewire. Over thirty
insurers have selected all three products that make up InsuranceSuite.
“Guidewire has a strong track record of continuous improvement and delivery
across its product portfolio,” said Craig Beattie, senior analyst, Insurance,
Celent. “Technology modernization is a journey, not a goal. It is crucial that
providers of core systems demonstrate leadership and bring their clients with
them on the journey.”
Highlighted features for each product include:
*Product Designer supports business agility by providing an easy-to-use
interface for business users to manage product offerings.
*Enhanced Account Holder Summary screen for faster, more accurate service ^
- quickly view a complete picture of the customer relationship and tailor
interactions in the moment.
*Policy Import / Export for risk and coverage data is one of several
enhancements designed to make PolicyCenter 8 even more commercial lines
*Agency Bill Management brings together the new UI and a redesigned
workflow to streamline the agency bill process while increasing the
insurer’s flexibility to process payments in the way agents would like to
do business with them.
*Policy-level cash management enhancements enable insurers to optimize
their customer relationships by maintaining accurate and precise tracking
of all payments made at a policy level.
*Vendor Management crystallizes best practices from working with our global
customer base into a new capability that help claims professionals provide
a more customer centered experience by finding the best qualified vendor
to perform a service, manage vendor progress, and measure vendor
performance – all without leaving ClaimCenter.
*Weighted Workload claim assignment process added because all claims are
not created equal. Some types of claims are inherently more complex and
time-consuming to adjust. Insurers now have the ability to assign claims
based on pre-defined “weight” values helping them more realistically
balance their adjuster workloads.
“With this release, we are deepening our commitment to legacy replacement and
to delivering a platform that helps our customers transform and augment their
businesses in ways that were previously too expensive to contemplate,” said
Jeremy Henrickson, vice president, Development at Guidewire. “We are proud of
what our customers are achieving and look forward to serving them for decades
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers
replace their legacy core systems and transform their business. Designed to be
flexible and scalable, Guidewire products enable insurers to deliver excellent
service, increase market share and lower operating costs. Guidewire
InsuranceSuite™ provides the core systems used by insurers as operational
systems of record. Additional products provide support for data management,
business intelligence, anytime/anywhere access and guidance and monitoring.
More than 150 Property/Casualty insurers around the world have selected
Guidewire. For more information, please visit www.guidewire.com. Follow us on
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire
PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire
PartnerConnect, Guidewire SolutionConnect, Guidewire Live, Live Inside, Before
& After, Claim Canvas, Viewpoint, Deliver Insurance Your Way, and the
Guidewire logo are trademarks, service marks, or registered trademarks of
Guidewire Software, Inc. in the United States and/or other countries.
Guidewire Software, Inc.
Diana Stott, +1 (650) 356 4941
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