In today’s ever-changing digital world, P&C insurers are searching for ways to become more competitive and to stand out from the crowd. To modernise their core systems, many are turning to the market leader, Guidewire, to help them digitally transform and boost customer service. So how can insurers get the most from a Guidewire implementation and avoid obstacles along the way?
Core modernisation using Guidewire’s platform enables P&C insurers to increase innovation, streamline processes and systems and become more flexible and efficient. In turn, this boosts the customer-centricity and organisational agility which are so vital to competitiveness in the industry.
Achieving these benefits quickly and to their fullest extent, however, is dependent on following best practice at all stages of the implementation process. Based on our extensive experience, we have developed a set of best practices for all four phases of an implementation:
- Inception and design
- Implementation and delivery
- Post go-live
One of the vital elements of a successful implementation is to actively involve stakeholders from all areas of the business from the very beginning of the process. This helps to ensure that the implementation remains focused, is aligned with business objectives and creates genuine value for the organisation. It also helps maintain project momentum and makes sure that any challenges along the way are dealt with more easily.
Challenging and questioning the business is also key. It is very easy for an organisation to take a narrow view of how processes should look and where value really resides. Asking the right questions to help the business to see things differently can open up more effective ways of working and keeps the implementation focused on areas of maximum benefit.
To find out more about how to achieve organisational goals, maximise value and agility, and minimise rework and budgetary spending, read my latest Point of View which explores best practice throughout the whole Guidewire implementation process.