Just before the vacations, it was my great pleasure to once more attend Guidewire Connections. This gathering of insurance professionals offered fresh perspectives on the disruptions of the last couple of years and the way the industry is moving forward.
Listed here are 4 key take-aways we bring with us into the brand new 12 months:
1. Cloud transformation is about “when” not “if”
Cloud is enabling real business value; not only cost take-out. Of their presentation, Accelerating Cloud Transformation on Guidewire Cloud Platform, Corey Barker and Keval Mehta shared how cost take-out is just the tip of the iceberg. Moving to the cloud enables digital innovation, data-driven insights, and the agility to innovate quickly to grow and simplify what you are promoting.
The advantages enabled by the Guidewire Cloud Platform are proof positive. Guidewire has made great strides in maturing their SaaS offering over the past two years. Lots of our clients have already began on the journey. Others have indicated that their decision to maneuver isn’t IF but WHEN.
2. Enabling speed to market
Newer capabilities are creating the flexibility to get recent products to market quickly by leveraging the greatly enhanced Advanced Product Designer feature. This can assist carriers change into digital attackers in recent strategic growth areas and get area of interest products out to market.
3. Evolving to a data-driven organization
Guidewire is continuous their efforts to assist carriers evolve to a data-driven organization with the launch of their analytic solution. At Accenture, we have now worked to assist carriers change into data-driven in the whole lot they do. Seeing increased efforts on this area by Guidewire allows a more cohesive approach to data-driven the whole lot via the Guidewire platform in the longer term.
4. Harness the ability of the ecosystem for optimum value across the enterprise
The impact platforms can have on operations has greatly expanded. Guidewire spoke of their partners as essential components of the robust end-to-end solutions insurance clients need. Whether or not operations transformation is a high priority for the carrier, it’s never too soon to start out considering greater on the role recent progressive solutions can play in end-to-end business operations.