What defines the features of an insurance product in Guidewire?

The features of an insurance product in Guidewire are primarily defined by the product model. The product model serves as the blueprint that encapsulates the structure and behavior of the insurance products being offered. It includes specifications such as the types of coverage available, pricing, underwriting criteria, and policy terms.

In Guidewire, the product model enables the configuration and management of insurance lines and products, allowing insurers to tailor their offerings based on market needs, regulatory requirements, and competitive strategies. This model facilitates efficient product creation, modification, and versioning, ensuring that insurance products can adapt quickly to changes in the industry.

While claims processing speed, integration capabilities, and user satisfaction metrics are important aspects of an insurance company's operations, they do not directly define the structure or features of the insurance products themselves. They may influence the success and implementation of the product model, but the core defining characteristics of the insurance products are rooted in the product model.