What is a key benefit of implementing InsuranceSuite with base configuration?

Implementing InsuranceSuite with base configuration primarily enables organizations to transform their business operations with innovation. The base configuration provides a solid foundation that incorporates industry best practices and is designed to support a wide range of insurance functions, including underwriting, policy administration, and claims management. This implementation facilitates the adoption of modern, efficient processes, allows for quicker time-to-market for new products, and introduces advanced tools that can enhance customer experience and operational flexibility.

Additionally, using the base configuration ensures that organizations can leverage the latest features and updates from Guidewire, thus remaining competitive in a fast-evolving industry. By embracing innovation through this structured setup, organizations can adapt to changing market demands and initiate significant improvements in their operational capabilities.

While reducing costs and potentially achieving rapid growth are important business goals, the primary transformation in this context is rooted in the innovative changes and improvements brought about by the implementation of the base configuration within InsuranceSuite.