Before we dive into the Flaine release, we all know that GW has started this approach of major cloud release twice yearly since 2020 from Aspen to the present Flaine. This is their 6th major cloud release so far. All these releases provide with us with the new features increase speed and improve agility for P&C insurers across the complete insurance lifecycle.
The GW Flaine updates released under three categories Platform, Applications and Content.
Platform: Guidewire Cloud Platform
Application: Packaged Applications for Policy, Billing, Claims and Analytics
Content: Products and Country Content that accelerates delivery for required solutions
Guidewire Cloud Platform: Streamline development and operations with Automated Release Updates, Jutro Digital Platform, Advanced Product Designer (APD) App, and App Events.
Flaine makes it easy to automate the release cycle for Guidewire applications. With automated releases, we can quickly deploy new features and bug fixes without having to wait weeks or months for manual testing and approval.
PrivateLink, customers with a large Amazon Web Services (AWS) footprint need a straightforward streamlined method to connect GW Cloud to various other services within their AWS environment, which can be achieved using this new feature.
PrivateLink establishes a secure connection so that incoming traffic coming from customers’ AWS Virtual Private Cloud (VPC) is connected to InsuranceSuite applications and other services running in cloud platform using a private endpoint. Private endpoint is mapped to an Instance of a platform resource, which reduces the exposure of customer’s network traffic to the internet thereby protecting against data threats. This allows secure interactions between traffic from services and applications and Guidewire cloud.
AWS private link reduces technical complexity eliminating configuration and reducing the overall cost of implementation as a result. In Flaine, inbound support functionality is provided and outbound connection in a future release.
Guidewire cloud consoles continue to add functionality that enable developers to deploy more quickly, the guiding product development principles here centre around making the guidewires cloud platform more self-service through GCC and centralising tasks within guidewire clouds console so that the customers do not need to use third party tools to deploy.
First, they are offering a feature to help when comes to change management processes. Developers can now access their project to full insurance suite deployment histories and guidewire clouds console.
Next, they are ensuring all users are working from one source of truth. Developers can now schedule an automated nightly backup for a selected nonproduction environment. Those scheduled backups can be removed automatically according to a specified backup pretension policies with this in org. All developer can be confident that they are working with the most recent sets of data.
Most of the insurers use multiple tools to monitor all their observability needs. In this new release, GW brings together monitoring functionality within GWCP using Data Dog. It provides a single window of glass that addresses all the customers’ observability needs. With the launch of observables, customers can spot issues early, by filtering logs specific to a particular insurance, or a status attribute, such as an error or a warning. Next, customers will be able to see pre-built dashboards, which can draw on customer metric data that is specific to their key operational function across the centres.
APD app a standalone application for insurance product management. It is cloud based application and helps the insurers launch an update product in less amount of time. It is used to accelerate product development using product visualization tools auto generated product code and prebuild product content. APD app has the capacity to modify and deploy insurance products with no system downtown. Click here for more insight
Jutro, a new product from Guidewire, allows insurance companies to create digital applications that can be deployed across multiple devices and platforms. Insurers can also use Jutro to automatically generate digital experiences based on pre-defined templates.
Advanced search will help us to perform free text searches officially and ask scale with this turnkey cloud solution for PC and CC on Guidewire Cloud. Instead of relying on lengthy setup and on ongoing operational costs Guidewire takes on the operation maintenance and updates with this new cloud service. With Guidewire advanced search customers can improve business user efficiency. The search is optimized for contact names and addresses. It enables powerful matching capabilities including phrases, wild cards, joins, groupings and more across any data type. Finally advanced search is powered by Apache Solr and employed in a cluster on Guidewire cloud making it easy to meet the needs of high volume and complex search requirements
Using Flaine, insurance companies can more easily integrate to external systems using App Events, an important component of the Guidewires cloud integration framework that enables outbound integrations. Insurance companies can publish core business events to speed up integration with downstream systems without having to write code.
Application: Drive efficiency and growth with Community-Powered Machine Learning, Submission Intake, and Embedded Analytics.
Flaine allows you to bring more data into the system and use it to generate predictions. These results are entered directly into InsuranceSuites text and the query workflow enables intelligent decision making and automation. Transaction data from insurance suites feeds back into Guidewire data collaboration enabling continuous improvement cycles.
Submission intake module helps to process more ACCORD application with the help of OCR technology which inturn reduce the efforts to manually entry the data into the system. However, this will be evaluated by the user for accuracy of the data.
Data-driven decision making improves business performance. With new analytics offerings built into InsuranceNow and InsuranceSuite workflows insurers can:
Expands global disaster management capabilities as historic weather claims such as hail, wind, lightning, tornadoes and flash floods appear directly in the claims center via Canvas.
Price risk accurately and retain profitable policyholders to improve loss ratios with the Guidewire Predict out-of-the-box dashboard, now embedded in InsuranceNow.
Write more profitable business with a new integration with HazardHub for InsuranceNow that enables more accurate risk assessment.
Further enhance risk assessment with the new HazardHub Enhanced Wildfire Model which provides more accurate forest fire forecasts to identify local risks.
Content: Accelerate time to market with expanded Guidewire GO packaged content
Flaine helps insurers get to market faster with new GO products for InsuranceNow and expands InsuranceSuites market content for the Japan, Australia and London markets.
Lead commercial auto business in the US market 50 percent faster with the new GO product on InsuranceNow. It claims to increase process efficiency and reduce costs applicable to personal health and self-employed luxury businesses in the Japanese market.
The Australian Business Registration (ABN) integration reduces costs by taking advantage of Australian Personal Motors automated claims limits and the Address Integration for Contact Manager.
Improving efficiency in the policy life cycle in the London market with increased visibility and flexibility for underwriting and claims processes. Click here for more details
Why Fecund?
We from Fecund provides software development and IT consulting services to companies operating in the P&C Insurance industry. Fecund is committed to delivering innovative solutions that impact your business. Fecund has a US presence in several states. We also have GW ACE certified experts to help you transform your business to the latest cloud version of GW. Our experience in implementing Guidewire products will help you have the latest Cloud version and be market ready. Lets work together for a better tomorrow.
Author Bio: Sravan Nakka is a Senior Guidewire Developer with 11 years of experience in the industry and 6+ years of relevant experience in GW software implementation. Worked across multiple US Insurance Clients and being a part of those crucial implementation right from the inception phase. He is a GW Specialist Certified and AINS 21 Certified as well. LinkedIn Profile
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