Guidewire (NYSE: GWRE) has announced Niseko, its latest software release, designed to provide insurers with enhanced insight into financial performance and risk exposure, while empowering developers with tools for streamlined updates, automated core business functions, and improved operational efficiency.
Diego Devalle, Chief Product Development Officer at Guidewire, stated, “With Niseko, developers now have access to pre-built insurance data models that enhance access to complex core data and come with built-in financial and operational intelligence for improved decision-making. Niseko also introduces a dedicated extension layer that simplifies software customization, and Guidewire Functions that automate business tasks and logic to enhance the development process.”
Niseko introduces new offerings and functionalities aimed at helping insurers. These include the Policy Insurance Data Model and Claims Insurance Data Model, which are auto-generated, dimensional models simplifying access to underlying InsuranceSuite policy and claims data for faster financial and business insights. Guidewire Functions, enabled using a Functions-as-a-Service approach, allow developers to build modular, reusable business tasks and logic to accelerate business logic implementation and improve software quality. This feature is currently available to a limited number of customers.
The release also features a new Extension Layer, providing an update-safe architectural layer for all custom extensions to Guidewire applications. This feature is available for Early Access customers. For risk assessment, Niseko incorporates HazardHub Wildfire Risk Score 3.0, Guidewire’s latest wildfire risk assessment tool, proven to be highly predictive of unforeseen wildfire events after being trained on millions of records and back-tested against real-world claims.
Operational enhancements include the Autopilot Activity Handling Integration, which automates the creation and management of activity assignments within PolicyCenter, ensuring tasks are assigned to appropriate underwriters based on predefined rules. For business intelligence, Premium Analysis Business Intelligence (BI) Content allows analysis of premiums (written, inforce, earned, unearned) over time and across lines of business to assess risk, ensure stability, and maintain competitiveness and compliance. Loss Analysis BI Content facilitates analysis of losses (paid, incurred, reserves, recovery, and loss adjustment expense) historically and spanning business products, aiding in maintaining financial health, implementing loss control strategies, and revealing emerging claim trends.
Michael Howe, Chief Product Officer at Guidewire, commented, “Every Guidewire release is designed to remove complexity and deliver meaningful value for our customers. Niseko is a reflection of that commitment, equipping insurers with the clarity, speed, and agility they need to thrive in a fast-changing P&C insurance industry.”
Guidewire serves as a platform for property and casualty (P&C) insurers to engage, innovate, and grow efficiently. Over 570 insurers across 42 countries, ranging from new ventures to large global entities, utilize Guidewire products. The company’s core systems leverage data and analytics, digital capabilities, and artificial intelligence, defining cloud platform excellence for P&C insurers. Guidewire reports over 1,700 successful implementation projects, supported by its R&D team and SI partner ecosystem. Its marketplace hosts a solution partner community where customers can access applications to accelerate integration, localization, and innovation.
