LONDON--(BUSINESS WIRE)--Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general insurers, recently held its annual Insurance Forum in London. This event was attended by insurers from across Europe, including business and IT functions and provided attendees with an opportunity to hear about the experiences of Guidewire customers in their transformation programmes. This year’s focus was on helping insurers adapt and succeed in a time of rising digital expectations.
Keith Stonell, managing director EMEA, Guidewire, began the day by considering how emerging trends are influencing the insurance industry and, consequently, Guidewire. He set out five key developments: customer expectation for digital engagement, new entrants in insurance provision, declining motor risk, emerging categories of risk and new insurance related technology. Mr Stonell contended that the effect of these trends on the insurance sector is profound and that, more than ever, insurers need a technology platform that evolves to ensure their continued success in a competitive market.
Keynote speakers presented on stage:
- Admiral Group: Charlotte Bennett, Head of IT and Matt Wintle, Programme Director, talked about the drivers behind their IT transformation, the challenges they encountered and how they overcame them, and how their Fail Fast approach has enabled them to learn and innovate, such that they are now a telematics market-leader;
- Axa Group: Richard Davies, Global Chief Fraud Officer, described the UK insurance industry’s response to organised fraud, the impact fraud has on customers and the need for insurers to better understand customer behaviour through data if they are to serve them better and earn their trust;
- Celent: Craig Beattie, Senior Analyst, explained how gamification is relevant and beneficial to the insurance industry, how it can be employed to motivate, influence and reward customer behaviour, and offered examples of how various insurers are using it successfully already for customers and staff;
- TUiR Warta: Adam Fulneczek, MD Claims Strategy Department, outlined the challenges in selecting a new claims management platform as a newly merged organisation, the speed of deployment, and their remarkable 178% efficiency increase since implementation. He also gave a live demonstration of Warta’s new claims app;
- Zurich UK: Anna Fleming, Solicitor-Programme Director, presented their blueprint for claims transformation, the complexity of their customer-centric programme in the drive to enhanced customer experience, optimized digitalization and data use, and business growth.
“The ability to search and analyse data across multiple information sources provides tremendous value,” said Keith Stonell. “Modern core systems collect and make available data that offer insurers much better customer understanding. As the range of data sources increases, with the growth of usage-based insurance and telematics, this level of insight can only improve and lead to new opportunities to serve those customers. With the continued rise of customer demand and digital expectation, the competitive battleground for the sales and service of insurance is digital.”
About Guidewire Software
Guidewire delivers the software that general insurers need to adapt and succeed in a time of rapid industry change. We combine three elements – core processing, data and analytics, and digital engagement – into a technology platform that enhances insurers’ ability to engage and empower their customers and employees. More than 200 general insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.