Guidewire just introduced Elysian, the latest in a series of releases that will define the cloud market. Elysian’s innovations enable insurers to quickly connect with third-party applications through the Integration Gateway, including insurtech solutions, but also launch lines of business with Guidewire GO and Advanced Product Designer (APD), as well as expand their distribution with the new Embedded Insurance Solution for travel. Guidewire’s Elysian kickoff event, Enter: Elysian, will be broadcast live on May 19 at 8:00 AM PT (Pacific Time). It will also be available on demand.
Easily connect apps with Integration Gateway
Elysian reduces integration complexity and increases developer efficiency with the Integration Gateway, a cloud microservice that outsources integration logic, orchestrating calls to (and from) InsuranceSuite and third-party applications, making the process easier with more of 170 Guidewire Marketplace partner apps.
Elysian Reduces Integration Complexity and Increases Developer Efficiency with Integration Gateway
“The cost and time required to integrate core systems with third-party applications significantly affect speed to market. Integration Gateway sets a new standard for accessibility, reinventing the ease with which developers integrate with Guidewire,” explains Diego Devalle, Director of Product Development at Guidewire.
Quickly launch products with Guidewire GO and APD
Elysian accelerates speed to market through country-specific content across all lines of business available within Guidewire GO, a pre-packaged product library that jumpstarts the product design process. Guidewire GO content is available for download from the Guidewire Marketplace. Hed risks flexibly through content for new business lines and London Market messaging integration. Process claims efficiently in the French automotive market with full IRSA, IRCA and bodily injury support, including claims distribution, real-time asynchronous messaging and payment processing. Stand out in the Australian personal car market with full support for regional addresses, currencies, product structure, model and data rules, as well as tax collection and regulatory details. Launch products quickly thanks to more than 1,000 ISO SBT updates. Reduce both your product configuration and your maintenance needs with the new AAIS Commercial Inland Marine products for North American insurers. Bring farm insurance to the US market up to twice as fast with the new GO product for InsuranceNow. Elysian includes enhancements to APD, a cloud-based visual configuration service for product model definition that supports the entire insurance lifecycle, simplifying configuration and accelerating releases. It also adds new functionality that allows insurers with previous PolicyCenter lines of business (LOBs) to auto-generate both cloud APIs and integration views to streamline the transition to Guidewire Cloud. “Elysian demonstrates our sustained investment in high-value industry content, expanding our library of insurance products through new lines of out-of-the-box Guidewire GO products, as well as business, personal and country-specific content, helping insurers get to market faster,” says Eugene Lee, senior vice president and general manager of Guidewire.
Expand distribution with Embedded Travel Insurance
According to a report by InsTech London, the integrated insurance market is expected to grow to $722 billion in gross written premiums (GWP), six times its current size, within eight years. For its part, Lightyear Capital says the value of the US integrated insurance market is expected to grow from $5 billion in 2020 to $70.7 billion in 2025. Elysian introduces market-tuned solutions preconfigured to address key line requirements so that insurers can launch integrated travel insurance in 12 weeks, providing a complete solution, from quote to claim. Guidewire’s Embedded Insurance Solution for Travel combines the data and functionality of Guidewire Cloud Platform (GWCP) with integrated capabilities from its partner ecosystem that provide support throughout the travel insurance lifecycle. “Guidewire customers trust us to respond quickly to changing market demands,” explains Devalle. “With the introduction of our first integrated insurance solution, insurers can immediately activate another distribution channel on GWCP.”