Just before the holiday, it was a great pleasure for me to be with again Guidewire connections. This collection of insurance professionals offered new perspectives on the disruptions of recent years and how the industry is progressing.
Here are four important take-aways we take with us into the new year:
1. Cloud transformation is about “when” not “about”
The cloud enables real business value; not just cost retrieval. In his presentation, Accelerates cloud transformation on the Guidewire Cloud PlatformCorey Barker and Keval Mehta shared how cost recovery is just the tip of the iceberg. Move to the cloud enables digital innovation, data-driven insights and the flexibility to innovate quickly to grow and simplify your business.
The benefits of the Guidewire Cloud Platform are proven to be positive. Guidewire has made great strides in maturing its SaaS offering over the past two years. Many of our customers have already started the journey. Others have stated that their decision to move is not IF but WHEN.
2. Enables speed to the market
Newer features create the opportunity to quickly bring new products to market by utilizing the greatly improved ones Advanced product designer feature. This can help operators become digital attackers in new strategic growth areas and bring niche products to market.
Developed into a data-driven organization
Guidewire continues its efforts to help carriers evolve into a data-driven organization with the launch of their analytics solution. At Accenture, we have worked to help carriers become data-driven in everything they do. Seeing increased efforts in this area of Guidewire enables a more cohesive approach to data-driven all via the Guidewire platform in the future.
Utilize the power of the ecosystem for maximum value throughout the enterprise
The impact that platforms can have on operations has been greatly expanded. Guidewire talked about its partners as essential components of the robust end-to-end solutions that insurance customers need. Whether business transformation has a high priority for the carrier or not, it is never too early to start thinking more about the role that new innovative solutions can play in end-to-end business.
Learn more about Accenture’s partnership with Guidewire.
Learn more about Reimagining insurance: The new cloud imperative
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Disclaimer: This content is provided for general information purposes only and is not intended to be used in consultation with our professional advisors.