Core modernisation has become a high priority for insurance companies, as it allows them to generate the agility, scalability and efficiency that legacy systems typically do not enable.
As the market leader globally, Guidewire’s core platform allows P&C insurers to effectively navigate their digital
transformation, boosting innovation and accelerating integration and localisation. This helps them to improve customer service and customer-centricity – a key differentiator in the insurance industry – and to increase operational efficiency and flexibility, reduce TCO and access new distribution channels.
However, to realise these benefits as quickly as possible and to make sure that the solution is providing maximum value insurers need to follow best practices at all stages of planning, design and delivery and even after go-live. Often, this can mean challenging the business to see things differently, to question processes and to focus on where value really resides.
Following the best practices that we explore in this Point of View paper ensures that the project remains within budget, rework is minimised, the goals of all parts of the organisation are realised, and value and adaptability are maximised.