Boost Commercial Lines Agility and Gain Better Risk Insights with Jasper

Jasper, Guidewire's tenth cloud release, takes us to the Canadian Rockies in an idyllic ski town nestled amongst some of the most stunning protected wilderness in North America. Boasting 91 ski runs of varying levels and the highest base elevation in the country, outdoor enthusiasts from all over the globe flock to Jasper to take in the mountain vistas, pristine alpine lakes, and plentiful wildlife.

Over the past 60 years, the Jasper ski resort has undergone significant development and expansion to adapt to changing consumer needs. This includes the introduction of new technologies such as modern chairlifts, grooming equipment, and snowmaking capabilities to improve quality and accessibility. Similarly, our latest release will enable P&C insurers to innovate and expand offerings to succeed in dynamic conditions. Jasper focuses on operational improvements across the board to give insurers even more flexibility to achieve business outcomes.

Here are some of the highlights:

• Layered Coinsurance: Insurers can manage risk exposure better by structuring risk sharing for non-layered & layered coinsurance arrangements in PolicyCenter. This not only provides them with increased capacity due to risk distribution - allowing the coverage of high-value and high-risk policies that would otherwise be impossible with a single insurer- but also improves flexibility and customization with individualized pricing by layer to account for specific risk profiles. The out-of-the-box integration between PolicyCenter and BillingCenter enables insurers to operationalize billing for policies with shared risks and provides visibility of all shared charges, including commissions and leader fees, within BillingCenter.

• Schedule Import is an enhancement to Submission Intake that increases underwriting efficiency by replacing manual data entry with a new import wizard that automatically maps vehicle and driver information to the corresponding fields in PolicyCenter. Improve agent satisfaction by empowering them to import auto vehicles directly to improve quote speed and accuracy.

• U.S. Bureau Content Solution: Available in early access, the U.S. Bureau Content Solution is an end-to-end managed service that will simplify content, forms, and rating by supporting ISO products including ongoing updates. Insurers can launch bureau-conformant products faster using standards-based templates (SBTs) that are always up-to-date to maintain market compliance on admitted commercial lines products.

• HazardHub Canada launches 11 new risk factors including wildfire, katabatic wind, volcanoes and earthquake probability for a total of 23 factors and more than 100 new data elements to help underwriters and actuaries score property risk in Canada. Understand wildfire risk at the property level with a unique score for every address with our Enhanced Wildfire Risk Score.

Jasper also includes an Automated Quote Comparison feature for InsuranceNow, a Deep Neural Network Algorithm for Predict, Bring Your Own Model functionality for Predict's Tune, more than 35 new and updated marketplace integrations, and much more. To get all the details about our latest release, you can visit our dedicated Jasper webpage, press release, and release highlights. We look forward to bringing you Kufri in August 2024; stay tuned!