Guidewire Software has been granted a patent for a system that presents operational data related to insurance policies. The system includes a product designer module that maintains an insurance product model and displays a portion of it along with operational data obtained from existing insurance transactional data. GlobalData’s report on Guidewire Software gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
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 February 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
A recently granted patent (Publication Number: US11908018B2) discloses a system that includes a product designer module with a processor designed to maintain an insurance product model detailing 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 presents a portion of the insurance product model augmented by this data. The operational data includes information like policies, quotes, claims, billing, premiums, profit, fraud, and user behavior data, enhancing the view of the insurance product model elements.
Furthermore, the system allows for the inclusion of tag information in the operational data, which can be used for campaign identification and inbound channel data. Users can specify filtering criteria to tailor the displayed insurance product model elements, with options to filter based on tags, time, region, or campaign. The system also enables adjustments to marketing strategies based on the presented operational data and offers users the ability to make edits to the insurance product model. Overall, the system aims to provide a comprehensive view of insurance product options and operational data, facilitating informed decision-making and customization in the insurance industry.
To know more about GlobalData’s detailed insights on Guidewire Software, buy the report here.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
