Guidewire congratulates the winners of the 16th Innovation Awards edition

Brian Desmond, Chief Marketing Officer at Guidewire

Guidewire congratulates the winners of its 2022 Innovation Awards: E.design Insurance, Hollard Insurance, and Mountain West Farm Bureau and its subsidiary 360 Insurance Company with partner Smart Communications. In its 16th year, the awards honor Guidewire clients that are adapting to an accelerating pace of industry change and evolving client needs. Winners were announced during Connections, Guidewire’s annual customer conference.

“On behalf of Guidewire, I’d like to congratulate the winners of our Innovation Award program and thank all the customers who submitted entries. We were impressed with the high-quality of the submissions. As these award winners demonstrate, Guidewire customers are continually raising the bar for agility and innovation,” said Guidewire CMO Brian Desmond.

Who are the 2022 winners of the Innovation Awards?

The 2022 winners are:

E.design

E.design – Leveraged Guidewire InsuranceSuite, CustomerEngage, and ServiceRepEngage to release “&e,” the industry’s first digital automobile insurance product in Japan, providing increased value to clients. E.design embarked on a digital transformation journey to revamp its systems and provide its policyholders the ultimate customer experience. The company also simultaneously implemented a customer experience-focused business strategy.

E.design deployed InsuranceSuite as its new core platform, CustomerEngage and ServiceRepEngage to deliver a seamless digital experience to its policyholders and customer service representatives, and is also leveraging Guidewire for Salesforce to enable data synchronization between InsuranceSuite and Salesforce Financial Services Cloud. E.design Insurance is the first Guidewire customer to deploy Guidewire for Salesforce in the APAC.

In May 2021, the company launched an entirely new auto insurance product, “&e” (pronounced as “Andy”). Benefits of the initiative include:

  • All processes in the insurance lifecycle from quotes to policy changes can now be completed with a smartphone;
  • Accurate quotes can be delivered in 60 seconds via the upload of policy information with a smartphone camera through a user-friendly interface;
  • One-tap accident notification using an IoT (Internet of Things) sensor;
  • Video of the customer’s car accident can be reproduced based on the impact and GPS data detected by the IoT sensor; and
  • Safe driver scores can be calculated using the IoT sensor. Scores can be turned into points and redeemed for rewards.

The project is not only innovative from a tech perspective, but also from a product and social one. Aiming for an “accident-free society,” E.design makes donations to local govts’ efforts for reducing accidents and promoting safe driving when accident rates of their customers drop to a certain level. If the accident rate of their customers drops below the annual target accident rate, the company makes an additional donation on top of their ongoing donations.

For additional information on E.design, visit the website.

Hollard Insurance

Hollard Insurance – Raising the standard for broker claims notification and updates with Guidewire ClaimCenter and ProducerEngage, to deliver first-rate broker servicing for Aussie brokers. Hollard is transforming its broker claims market offering with the introduction of Guidewire ClaimCenter and ProducerEngage for notification and management of claims.

The firm’s claims notification process previously required manual input on every claim and at times required a call or email to brokers before lodgement could be completed. This process could take 3-4 days to flow through Hollard’s system, but with digitization, it happens instantly. The claim information captured easily assists agents to start the repair process.

Hollard’s clients and brokers are being empowered to interact with the company through a channel of their choice and can get information on a claim in one interaction without the need for the broker to call Hollard. Additionally, the broker portal allows brokers to raise a catastrophe event claim directly to Hollard to ensure the right repairers can be appointed for a quick resolution. The rollout to all brokers is expected to be completed in early 2023.

The portal allows brokers to raise claims and get claims information with one login, and enables brokers to view all claims quickly from their desktop or in the field with customers.

The straight through lodgement ensures staff will no longer need to complete manual processes at notification, and with the assignment and reserve rules built in ClaimCenter, Hollard gets the claim triaged and reserved automatically as soon as the broker completes the claim in the portal. These enhancements will provide Hollard with a distinct advantage.

For additional information about Hollard Insurance, visit the website.

Mountain West Farm Bureau

Mountain West Farm Bureau – Putting customer experience at the center of its digital transformation, Mountain West Farm Bureau enriches the policyholder experience with efficient communication via multiple channels. In addition, Mountain West unlocks the business value of data with targeted reporting and analytical solutions.

Mountain West sought to move to a digital-first approach to elevate the experience for its clients and employees. Mountain West leveraged integrated cloud-based tech to improve operational processes and enrich the policyholder experience. By leveraging Guidewire InsuranceSuite in Cloud along with Smart Communications, Mountain West was able to:

  • Reduce policy maintenance related activities by 95% with the redesign of hundreds of forms.
  • Achieve over $3M in savings by consolidating the number of policy administration tools used from 5 to 1, reducing IT reliance, and lowering processing costs.
  • Recreate nearly 1000 documents and set them up for delivery through trigger events.

The digital-first customer communications strategy provides agility and speed while meeting compliance requirements. In addition, Mountain West is using Data Studio (through the Early Access program) along with Explore to unlock the business value of data by building targeted business-ready dashboards. The data sets and visualizations in these dashboards provide near-time operational insights across policy, claims, and billing processes.

Through a rapid delivery cadence, Mountain West continues to develop new reporting and analytical use cases that push the boundaries of delivering business value from data to its users. For additional information on Mountain West Farm Bureau, visit the website.

For more information about Smart Communications, visit the website.