Guidewire Overview: Products & Services

Tue, 07/26/2016 - 09:42
by Stefanie Truitt, MBA, CPCU, AU, AINS, API

The P&C industry is changing at a rapid pace, and to adapt in this environment, fast and adaptable software is key to ensuring success.    Many top insurance carriers are opting to have Guidewire as their main system for handling policies, billing of customers, and claims management.  Guidewire can give carriers flexibility to change the system according to specific needs which supports a wide spectrum of business operations.    Guidewire currently has the following products to support all needs of an insurance carrier:

  • Core processing

  • Data and Analytics

  • Digital portals

“Guidewire enables us to dream for the future without limitations” says Matthew Turack, VP of Insurance at Canadian Automobile Association.  Guidewire’s mission is to look at the products it offers from the end users perspective, and to ensure that workload is reduced leaving time to free up innovation.  The three products that Guidewire offers serves automated workflows supported by straight-through processing and operational efficiencies, continuous improvement for catastrophe management, fraud prevention, recovery management, third party data sources, and helpful decision making analytic tools. Together, these products make up Guidewire’s platform across the insurance lifecycle of core operations (underwriting, rating, and policy administration), data and analytics, and digital engagement.  “Our companies are beginning to realize benefits from the common processes and business rules we now share – and from our common Guidewire technology platform” says Sandra Baskerville, VP for Solution Delivery, The Co-Operators Group.  Guidewire has a vast amount of resources in where they share in a network of select partner companies providing consulting services and solutions.  These services and solutions serve to enhance, extend, and complement the capabilities of Guidewire products. Currently, Guidewire serves more than 200 insurers in more than 20 countries around the world, has completed over 300 implementations, and works with over 5,000 partners ensuring adequate services to support the entire customer base.  Guidewire has received numerous awards including the 2016 “Technology Partner of the Year Award”, 2015 winner of an XCelent Award in Celent’s APAC Policy Administration Solutions, and 2015 XCelent Awards in Celent’s Policy Systems Vendors: North America P&C report.

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