Guidewire Software has patented a system for presenting operational data related to insurance policies. The system includes a product designer module that maintains an insurance product model and displays operational data obtained from existing insurance transactional data. The technology aims to enhance the visualization of insurance product configurations. GlobalData’s report on Guidewire Software gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Guidewire Software, Digital lending was a key innovation area identified from patents. Guidewire Software's grant share as of April 2024 was 74%. Grant share is based on the ratio of number of grants to total number of patents.

System for presenting operational data in insurance policies

Source: United States Patent and Trademark Office (USPTO). Credit: Guidewire Software Inc

A recently granted patent (Publication Number: US11908018B2) discloses a system that includes a product designer module with a processor configured to maintain an insurance product model specifying various configurations of insurance policy products linked to multiple insurance policies. The system receives operational data related to existing insurance transactions from an analytics engine and displays a portion of the insurance product model augmented by this data, including the number of bound policies associated with the model elements. The system aims to enhance the visualization of insurance product options based on real-time operational data, improving decision-making processes.

Furthermore, the system allows for the inclusion of tag information in the operational data, which can assist in identifying campaign details or inbound channel data. Users can specify filtering criteria to customize the displayed insurance product model elements based on tags, time, region, or campaign. The system also supports adjustments to marketing strategies and offerings based on the presented operational data. By providing a user-friendly interface that integrates operational data with the insurance product model, the system aims to streamline product design processes and enhance the overall efficiency of managing insurance policies.

To know more about GlobalData’s detailed insights on Guidewire Software, buy the report here.

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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.