Guidewire Jasper Release Boosts Commercial Lines Agility for P&C Insurers and Strengthens Functionality Across Entire Product Portfolio

Guidewire (NYSE: GWRE) announces Jasper, its latest release, which boosts commercial lines agility for P&C insurers with support for layered coinsurance, schedule import, and a new U.S. Bureau Content Solution.* Additionally, expanded HazardHub data for Canada gives insurers deeper property risk insights for underwriting precision. Jasper release will be generally available on April 5, 2024.

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“Commercial lines insurers face both risk and opportunity. On the one hand, there are economic fluctuations, including inflation, geopolitical complexities, capital limitations, and environmental challenges. On the other hand, the protection gap creates growth opportunities for insurers that innovate to stay ahead of the evolving risk landscape,” said Eugene Lee, senior vice president and general manager, InsuranceSuite, Guidewire.

For P&C insurers seeking to improve commercial lines efficiency, Jasper enables faster policy issuance and processing through its flexible, cloud-based platform designed specifically for commercial lines. Enhancements in Jasper include:

• Layered coinsurance reduces risk exposure by structuring risk sharing for non-layered and layered coinsurance arrangements in PolicyCenter and automatically generates all necessary splits and charges in BillingCenter.
• Schedule import, a new flexible import wizard in PolicyCenter, empowers underwriters and agents to capture more commercial lines business by allowing them to upload and automatically import spreadsheets containing fleet vehicle/driver details and building information.
• A new U.S. Bureau Content Solution* enables insurers to maintain regulatory compliance and stay current with the latest rates, rules, and forms by providing continuously updated commercial lines content from ISO (Insurance Services Office, Inc.), NCCI (National Council on Compensation Insurance), and state workers’ compensation bureaus. The solution accelerates the launch of bureau-compliant commercial lines while eliminating the challenges of managing the circular update process.

Jasper continues Guidewire’s investment in making enhancements across its platform. Expanded HazardHub Canada data now gives underwriters and actuaries even deeper insight into property risks with 11 new risk factors, including wildfire scores, and 100 new data elements.