Guidewire, a platform provider for property and casualty (P&C) re/insurers, has announced its latest release, Jasper, designed to enhance capabilities and bolster agility in commercial lines.
Jasper offers P&C insurers a flexible, cloud-based platform tailored specifically to the needs of commercial lines, facilitating quicker policy issuance and processing.
Moreover, Jasper enhances risk management with Predict’s Analytics Manager in PolicyCenter, granting access to relevant risk insights for better decision-making. It also automates all necessary splits and charges in BillingCenter.
Furthermore, PolicyCenter’s schedule import feature streamlines policy submissions, capturing more agent-driven business and improving customer experiences by minimising manual data entry.
Another notable addition is the US Bureau Content Solution, assisting insurers in meeting regulatory standards and staying updated with the latest rates, rules, and forms through regularly updated commercial lines content. This solution accelerates the launch of compliant commercial lines products while simplifying circular update management.
Additionally, insurers gain deeper underwriting insights into Canadian properties with new HazardHub risk variables, including 11 new risk factors such as wildfire scores, and 100 new data elements.
Eugene Lee, senior vice president and general manager, InsuranceSuite at Guidewire, remarks, “Commercial lines insurers face both risk and opportunity. On the one hand, there are economic fluctuations, including inflation, geopolitical complexities, capital limitations, and environmental challenges. On the other hand, the protection gap creates growth opportunities for insurers that innovate to stay ahead of the evolving risk landscape.”
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