Guidewire Software : There is a Right Way to Launch New Products Quickly – Guidewire Customers Have the Secret | MarketScreener
Summary
This happens for a number of reasons, often to increase market share, diversify a book of business, or to enhance an insurers reputation as an innovator by covering a new risk or an old one in a new way. The Guidewire team surveyed our customers during our Connections Reimagined event in November 2020, and 10% of them told us that accelerating product launch is their top priority for 2021. Karlyn Carnahan, Celents head of Property/Casualty for North America, tells us that the two biggest obstacles to launching insurance products rapidly are (1.) Spending long cycles clarifying coverage intricacies for a new product, having to translate needs between IT and business teams, or building dozens of complex integrations or other custom system configurations may mean the difference between getting to market first or not. Similarly, CAA launched Canadas very first pay-as-you-drive insurance offering, and made it a success by relying on analytics and other technology elements within InsuranceSuite.
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