Guidewire introduces Las Leñas release to help streamline claims management and increase agility across the insurance lifecycle
NASHVILLE, Tenn.--BUSINESS WIRE--
CONNECTIONS CONFERENCE - Guidewire (NYSE: GWRE) will showcase its commitment to improving risk selection and pricing, indemnity management, and claims efficiency in property and casualty insurance at its annual customer conference, Connections. The event will unveil future underwriting and claims application capabilities enhanced by AI, introduce Claims Intel*, a Guidewire Industry Intel product, and announce Las Leñas, Guidewire's latest release. Connections keynote sessions will be livestreamed and available on-demand. To view the livestream, visit the Connections website.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241118867867/en/
Guidewire's vision for AI-driven insurance applications will mark a new era of insurance productivity by making unstructured data more actionable, assisting underwriters and claims adjusters in decision making and automating routine tasks, and enabling teams to work in more creative, non-linear ways. By intelligently prioritizing tasks, these applications will help guide insurance professionals to focus their attention on doing work where it's needed most.
The keynote will feature roadmap highlights including:
- AI application service: A cloud service powering AI across all applications, facilitating the best LLM models and ensuring data privacy, security, and compliance with P&C standards.
- Underwriting with GenAI: An assistant that streamlines commercial submissions, reducing quote turnaround, improving risk selection, and enhancing pricing accuracy.
- Claims servicing with GenAI: An AI-driven adjuster experience that automates document ingestion and summarizes claim notes, improving efficiency, customer satisfaction, and claims cycle times.
- Developer productivity with GenAI: Native AI integration that boosts development efficiency, assisting with code translation, integration design, and more.
"Guidewire's AI-powered applications will help insurers improve risk selection and pricing, optimize indemnity management, and enhance claims efficiency by automating tasks, providing deeper data insights, and streamlining workflows across the insurance lifecycle," said Mike Rosenbaum, Chief Executive Officer, Guidewire.
Guidewire Claims Intel is the first in a series of innovative Guidewire Industry Intel products, designed to streamline core operations. Five new predictive intelligence scores comprise Claims Intel and are the first in a planned series to deliver key insights throughout the claims lifecycle. The scores for Injury Loss, Payment Likelihood, Injury Severity, Attorney Likelihood, and Litigation Susceptibility come fully ready to use right out of the box for personal auto claims, pre-integrated into core workflows for maximum impact.
"Guidewire Industry Intel transforms the way insurers predict and respond to complex challenges in property and casualty insurance," said Leo Tenenblat, Senior Vice President and General Manager, Guidewire. "By harnessing claims and exposure data comprising more than $200 billion in global premium, we empower insurers to make faster, more accurate predictions, enhancing their ability to navigate risks and seize opportunities in an increasingly unpredictable landscape."
Las Leñas includes several additional capabilities including:
- New Risk Scoring Tools for Underwriters and Actuaries: The release includes two new generally available HazardHub risk scores for the U.S.-Flood Risk Scores and pre-filed Wildfire and Fire Suppression Scores-to better assess risk and inform underwriting decisions.
- Application Performance Monitoring: Generally available, this solution provides customers with visibility into application performance, allowing them to detect and respond to system changes swiftly.
- U.S. Bureau Commercial Products Solution: Generally available for product managers, this tool simplifies compliant commercial lines product launches, reducing complexity and time to market.
- Autopilot Workflow Service for PolicyCenter: Available for Early Adopter customers, this service streamlines the policy lifecycle, driving efficiency and improving the customer experience.
Guidewire's latest innovations and modern, proven platform built for P&C insurance continue to deliver on its promise to transform the industry by driving operational efficiency, increasing agility, and empowering users with actionable insights.
"Our Las Leñas release represents a significant leap forward for the insurance industry. We're not only optimizing claims management but also equipping underwriters, actuaries, and product managers with the tools they need to make more informed decisions, faster," said Michael Howe, Chief Product Officer, Guidewire. "At Guidewire, we're committed to helping our customers stay ahead of the curve by providing cutting-edge technology solutions that enable them to thrive in an evolving market."
For more detailed information, please read the blog on Guidewire Industry Intel.
Connections, Guidewire's customer conference, is taking place November 17-20, 2024 at the Gaylord Opryland Resort & Convention Center in Nashville, Tennessee.
Las Leñas release will be generally available on December 6, 2024. Some features may not be available in all regions.
*Claims Intel will be available in December during the Las Leñas release cycle.
About Guidewire
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurers in 42 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers.
We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest solution partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation.
