Insurance Transformation Using Guidewire for a Leading US Insurer

Client

Understanding the Landscape for Strategic Transformation

The client is a leading US-based insurer who sought to modernize their operations and enhance customer experience through a comprehensive insurance transformation initiative. The client aimed to replace its legacy systems with a more agile, digital-first infrastructure that would streamline policy issuance, claims processing, and customer self-service.             

Challenge

Modernizing Operations and Enhancing Customer Experience in Insurance

The client faced rising operational costs due to limited online policy and claims servicing. Manual processes for underwriting, driver history verification, and claims data retrieval led to delays in quote-to-policy issuance.

To overcome these inefficiencies, the client made a strategic decision to drive digital insurance solutions and implement the Guidewire suite. Recognizing the importance of an integrated approach, they sought to ensure a seamless adoption process that would enhance operational capabilities. Their objective was to harness the power of innovative digital insurance solutions, including the Guidewire Edge framework for streamlined self-service options, MuleSoft for robust API management, and Sitecore to elevate the front-end user experience.

Furthermore, the client aimed to incorporate advanced analytics capabilities through tools like Power BI and SPSS to facilitate data-driven decision-making. To ensure the success of this transformative initiative, they partnered with Hexaware, leveraging their expertise for a streamlined implementation process.

Solution

Implementing Innovative Technologies for Seamless Integration

Hexaware led this digital transformation in insurance by implementing Guidewire for policy administration, claims processing, and billing. The solution enabled seamless self-service for customers and agents across multiple channels, including portals, mobile apps, retail kiosks, and social platforms.

Key solution highlights:

• Integrated Guidewire Edge framework with MuleSoft API Manager and Sitecore for an enhanced digital experience.
• Built interfaces with industry sources and internal ODS to prefill information like driver and claims history, address validation, policy details etc.
• Developed an intelligent analytics engine to personalize the journey based on customer preference, recommended products and choice of coverages.
• Implemented AI-led predictive modelling solution to forecast claims reserve and flag potential fraudulent claims.
• Enabled self-service functionalities for Quote & Buy, Policy and Claims Service using Guidewire Edge framework and Hexaware APIConnect; developing custom APIs to complement Guidewire Edge portal.

Hexaware’s automation-led approach accelerated implementation, ensuring a scalable, efficient, and future-ready insurance ecosystem.

Benefits

Driving Efficiency and Engagement in Insurance Operations

Hexaware’s implementation of Guidewire in insurance and underwriting automation delivered significant business benefits, driving efficiency, customer engagement, and cost savings.

• 200% increase in digital engagement: The client saw a 200% increase in customer interactions through portals, smartphones, and the LINE App, enhancing accessibility and user experience.
• 5x faster quote creation: By automating underwriting and integrating data sources, the insurer achieved a fivefold acceleration in quote generation, reducing processing delays.
• 80% reduction in call drops: Enhanced digital self-service capabilities significantly improved customer support efficiency, minimizing call drop rates by 80%.
• Optimized call-center operations: With streamlined workflows and self-service functionalities, the insurer saved 3000 person-days per year, maximizing call-center bandwidth utilization.

Summary

A leading US insurer partnered with Hexaware to modernize their insurance operations by adopting the Guidewire suite and advanced digital tools. This insurance transformation streamlined policy issuance, claims processing, and self-service capabilities through integrated solutions like MuleSoft, Sitecore, and AI-driven analytics. Hexaware’s automation-first approach accelerated implementation timelines, enabling multi-channel self-service and data-driven decision-making. The initiative delivered significant business benefits, including a 200% increase in digital engagement, fivefold faster quote generation, an 80% drop in call-center issues, and enhanced operational efficiency.