ServiceNow is known for its suite of cloud-based services aimed at automating and improving business processes. Guidewire, on the other hand, provides software products for property and casualty (P&C) insurers worldwide.
The joint initiative aims to address common issues within the insurance sector, particularly manual processes and disjointed solutions. By integrating ServiceNow Financial Services Operations and Guidewire InsuranceSuite, the partners plan to streamline processes, boost operational efficiency and facilitate easier, more empathetic experiences.
ServiceNow provides intelligent and connected solutions that streamline processes and make work operations more efficient. Its Financial Services Operations offer repeatable, automated experiences for handling exceptions in insurance claims and other high-impact processes. Guidewire, meanwhile, provides cloud capabilities for claims, policy servicing, and underwriting, with its InsuranceSuite enhancing the abilities of insurers to optimise their operations.
The integration enables real-time, bidirectional exchange of data related to claims, policyholders and more. This will ensure those working in underwriting, claims, and customer service have the most up-to-date information in one place, thereby improving workflow efficiency. The joint solution also utilises artificial intelligence (AI) and automation to drive efficiency, power cross-functional workflows, transform processes, and provide omnichannel customer experiences.
The solution, which is available today in the ServiceNow Store, is designed to deliver significant improvements in cost and time efficiency, resolution times, and customer and employee satisfaction. ServiceNow and Guidewire are committed to evolving their solutions to meet changing business and customer needs, with the goal of making the world work better for everyone.
Celent’s Head of the Insurance Practice for North America, Karlyn Carnahan, said, “Insurance carriers greatly rely on easy access to data within claims and policy administration systems to enhance customer and employee experiences. Smooth integrations play a vital role in enabling real-time, two-way data exchange and consolidating up-to-date information for underwriting, claims, and policy servicing.”
Source: Fintech Global
