3 #GuidewireConnections conversations you can’t ignore

Veterans know the best way to measure the mood of the insurance industry – or any industry for that matter – is to listen closely to the conversations people engage in on the floor of a tradeshow. It won’t take long to discover repeated conversations about a handful of topics. And if you listen close enough, you’ll hear them everywhere from the opening event to the keynote address to every booth in the show.

#GuidewireConnections 2018 is no different. All the debate and discussion at Guidewire’s premier annual user conference is focused on three subjects: innovation, partnerships, and the cloud.

Live from the show

Here’s what I’m hearing:

1. Speed to market: the backbone of innovation

We work in an evolved insurance industry. Less than a decade ago, a carrier could walk a new product to market and declare success. Today, if you’re not running, you’re falling behind. The ability to both innovate and quickly get that product to market is critically important.

Established carriers lean on innovation and speed to market to enhance existing products, buoy margins, and protect profitability. Growing carriers want to launch new and innovative products quickly to capture market share, put distance between the business and its competitors, and to challenge the norm, something Connections keynote speaker Malcolm Gladwell emphasized.

Speed-to-market challenges carriers face include outdated technology and broken processes. Too many carriers see updating legacy core systems as another roadblock, as well.

I get that. It’s understandable. But it’s also outdated thinking.

That’s why we were proud to host Pekin Insurance at Connections. The company’s presentation, “Pekin Partners with Hyland to Accelerate Guidewire Implementation with Digital and Cloud,” explained to attendees how it was able to take a total technology approach to its IT modernization project. Leveraging OnBase for Guidewire Accelerators, Pekin implemented Guidewire and OnBase in less than a year, a record for the company. This was possible in part because of the newest release of OnBase for Guidewire Accelerators, which further reduces implementation costs and effort by nearly 50 percent from the previous Accelerator version.

That’s a speed to market conversation we love to have.

2. Moving to the cloud

When your peers talk about moving to the cloud, they’re talking about managing skyrocketing on-premises IT costs by adopting a subscription-based software as a service (SaaS) model for data and software storage. Ask them how they plan for their systems to interact and how and when their users will access those systems.

To do so successfully, organizations need cloud solutions that have dynamic infrastructures, high uptime guarantees, easy integrations with on-premises and other cloud systems, and excellent security track records.

More importantly, engaging with the right partner and having a plan will really determine how well an organization makes the move to the cloud. We know, because we’ve provided hosted solutions since 2000 and have seen what the right partnership can accomplish.

Today, more than 800 global organizations access content and information from our dedicated cloud content management environment comprised of several highly secure private cloud data centers strategically located around the globe.

3. Forging the right partnerships

Above, I touch on the importance of partnerships, but I wanted to call it out further because it is such an important and dynamic component of success. Talking with folks in the aisles, it became clear that in today’s insurance industry, no one can go it alone. Building and nurturing the right vendor partners is the only way to find meaningful success.

That’s why we’re so proud to be a Guidewire Premier Partner and the only Solution Connect Partner focused on enterprise content management. We’re amazed at what we have accomplished working side-by-side with them, helping transform companies like MetLife and FMG. That only comes from open lines of communication, trust, and a desire to see our joint customers reach their full potential.

The power of connecting

See how you can easily weave these three conversations together? Carriers can achieve their innovation and speed-to-market goals by teaming with the right industry partners to implement the best digital solutions and, if they are truly daring, move those solutions to the cloud.

No wonder they call this show Connections.

Charlie Hanna

Charlie Hanna

Charlie Hanna is the Director of Hyland Software’s Domestic Insurance Solutions Group. With nearly 15 years of sales, insurance and technology experience, Hanna has endorsed the benefits of enterprise content management (ECM), business process management (BPM), case management, records management and capture for global insurance organizations (both P&C and Life) to help them become more agile, efficient and effective.

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