Other parts of this series:
Selecting a platform is just one of many decisions insurers must make on the road to transformation.
Guidewire is widely recognized as one of the leading insurance software suites. Combining three elements—core operations, data and analytics, and digital engagement—the platform has helped more than 200 P&C carriers improve their operational efficiency, speed-to-market and customer experience.
But for insurers who decide on a Guidewire implementation, choosing the platform is just one of many decisions they must make on the transformation journey. They must also:
Choose a deployment option
- All at once. Implementing all of the Guidewire systems is the quickest way to realize the maximum benefits. Risks can be reduced by phasing the rollout by lines of business and/or regions.
- One at a time. Many carriers chose to deploy the Guidewire core systems one at a time across regions and lines of business. This allows them to leverage the project resources across implementations while decreasing the impacts of the transformation across the organization.
- A combination. For carriers looking for something in the middle, a combined approach may be best, implementing one system first, and then simultaneously implementing others.
Select an implementation partner
Deploying a large, agile program on a flexible platform is always a challenge, which is why the majority of carriers choose a partner to get them up and running as quickly as possible and to minimize risk to the business.
Accenture is a leading provider of Guidewire implementation and support services. Our approach, based on our experience working with 27 of the world’s top 30 P&C carriers and our deep understanding of insurance transformational journeys, focuses on:
- Quality. Our risk-based test approach enables early defect detection and maximum coverage with fewer test cases. Our repository of over 14,000 test cases, together with our automation test frameworks and suites, ensure both quality and efficiency.
- Future-state business process models. Accenture’s BPM Framework accelerates the shaping of future-state process models. We have extensive training capabilities, and assessment templates, roles, learning paths and training modules to accelerate Guidewire implementations.
- Integration and data migration. Accenture has all the tools, methodologies and capabilities required to build sustainable data models, and cost-effectively migrate data to the new platform and to target operational data stores.
- Program management and DevOps. Guidewire delivery is supported by a team of over 12,000 agile professionals, as well as tools and alliances that reduce delivery volatility and cost. Our DevOps offering uses automation to make deployments faster and more predictable.
- Forms maintenance. Our range of forms tools, methodologies, repositories and offshore capabilities facilitate forms management while reducing costs by up to 30 percent.
Respond to implementation challenges
Guidewire implementations face a number of common challenges, which I recommend carriers recognize up front. Challenges include:
- Ineffective prioritization of requirements and scope creep.
- Absence of strong, central PMO.
- Immature dev ops processes.
- Mediocre or nonexistent documentation of business processes.
- Over-configuration and rebuilding of legacy system.
- Inadequate automation tools and test suites.
- Limited efforts in manual/automated unit testing and forms validation.
Guidewire software supports the entire insurance lifecycle, from underwriting, rating and policy administration to reinsurance, billing and claims management to customer contact data management. It helps insurers capitalize on a comprehensive customer-centric view, streamline cross-functional processes, accelerate product and process changes and reduce IT costs.
As a global company with extensive insurance business and IT capabilities, an industrialized delivery, and an onshore Accenture Insurance Policy Admin Solution Factory at our Nashville Delivery Center that supports policy administration systems, Accenture can help your organization shape, plan and execute a Guidewire implementation, meeting all the challenges head on to ensure your company continues on a trajectory of success.