Guidewire Software Inc. released version 8 of its InsuranceSuite. The offering is designed to deliver new functionality, many architectural and performance improvements and deeper native integration between PolicyCenter, BillingCenter and ClaimCenter — the separately implementable and upgradeable applications that make up the suite.
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, Guidewire said. A new suite-level feature, Service Tiers, is designed to enable insurers to tailor the service experience across underwriting, policy administration, billing and claims to individual policyholders.
“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, VP, development at Guidewire.
According to Guidewire, there are several features for each product.
PolicyCenter:
- Product Designer supports business agility by providing an easy-to-use interface for business users to manage product offerings.
- Enhanced Account Holder Summary screen enables users to 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 more commercial lines friendly.
BillingCenter:
- Agency Bill Management combines 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.
ClaimCenter:
- Vendor Management helps 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.
- Weighted Workload claim assignment process enables insurers to assign claims based on pre-defined “weight” values helping them more realistically balance their adjuster workloads.
InsuranceSuite 8 also provides enhanced capabilities for London-focused and international insurers, Guidewire said. 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.
