Guidewire Connections Opening Keynote

Welcome to Guidewire's Chief Executive Officer Mike Rosenbalm. I was telling the team backstage that there's just far too much hype, far too much well-produced hype. You're expecting some sort of superstar insurance superhero and all you get is me. But that was a great walk-on. I think it is such an incredible honor to have the opportunity to represent everybody at Guidewire in welcoming you to Connections and welcoming you to Nashville. This incredible week for me and for a lot of us at Guidewire is the highlight of the year, at least professionally, and I hope it is for you too. It's an opportunity to hear from us about what we're up to, to meet new friends, meet old friends, hear good stories and bad stories, and reconnect with everybody in this incredible community. I want to start the presentation by saying thank you. Thank you very much for coming. First of all, I think we have people here from all over the world, quite a few people actually from Japan, all the way from Japan, all the way from Norway. So thank you all for coming. I also want to thank you for the trust that you place in us to run your most critical systems, the trust that you put in us to help you operate your organizations. We take that incredibly seriously. I also want to thank you for inspiring us, for pushing us with your aspirations, your innovation, your demands even. It's incredibly motivating to me to hear from all of you and how you are pushing us to continue to do better. So I want to thank you for that. Most of all, I want to thank you for your contribution to this incredible community of people that once a year gets together at Connections, this year in Nashville, sometimes in Vegas. I think there is something incredibly unique and special about this group of people. Yes, it's organized around Guidewire, but really it's organized around property casualty insurance. There are a bunch of people who have dedicated their lives, dedicated their professions, dedicated their days to improving the state of the property casualty insurance industry. I think that is a very, very special thing, and I think that is uniquely represented here at Connections every year. That, of course, is our mission at Guidewire: to propel this industry and help propel all of you, to help power agility in our industry, to help you engage with customers in new, more interesting ways, to innovate with new products and new channels and grow efficiently, better and better operations release over release, year over year, and in the process improving the state of the P&C industry. Our strategic focus has not changed. We remain completely focused on delivering a platform to support a complete insurance lifecycle, enabling you to deliver the right product at the right time, at the right place, at the right channel, the right price, and the right risk. And if it turns into premium, manage that as efficiently as you possibly can. And in the event of a claim, manage that process with elegance and just incredible world-class customer service. And do it all on a platform that facilitates your ability to manage every step, measure every step, improve every step, and in the process deliver this thing we call P&C insurance to households, companies, economies, and like I said, improve the state of this industry. So we've been at this for 20 years now, and I think something very special is at the heart of the founding of this company. That is this idea that we could deliver packaged software that you could use to harness the complexity and manage the chaos of your operations, but also upgrade that software, also have a V2. So you put in all the effort to get it deployed and you get it running, but also there's a next version coming from Guidewire. That was a pretty crazy idea actually way back when the company started. But now that we're a cloud company, we have been able to increase that pace of innovation. We've been able to increase the pace at which we are providing these updates. We've provided eight updates, and this week we're going to talk about Inbrook. Inbrook is our latest release, our 9th release. And now actually for the past year or so, we've increased the pace to three times a year: new products, new functionality, new capabilities, new features. I promised Diego and the team that I would not talk about any of that; that's not my job. They've got an incredible lineup of stuff to show you about Inbrook. What I want to focus on is this concept of updates. We've talked a lot about that last year if you're at Connections: this idea that we can change the approach to building the next version of our product, we can change the way that we're building such that you can take these updates more easily. This is our vision that we will get to the place where we are at across our whole customer base: N minus 2, N minus 1, and hopefully someday N minus 0, where every single person in the room could say confidently, 'Yeah, we're on the latest version of Guidewire.' This vision, which really has been at the heart of our company since day one, has led to an incredible amount of success. It's been successful for Guidewire, but it's also been successful for all of our customers. This is the favorite slide that we put together every single year. It is a picture of every single Guidewire customer logo, whether or not you gave us permission to use it or not. So yeah, thanks for taking the pictures; don't publish it. So this year we decided actually to expand it and to include all the logos of our partners, because this is something also very special about this week. It's an opportunity to recognize that this isn't just about Guidewire; this is about the community of partners, whether they're consultants, systems integrators, or solution partners, technology partners that are participating in this ecosystem and community to further this effort to make this all better, working together to improve the state of this industry. So you're all objective professionals; logos look good, but I'll walk you through the numbers very quickly. 540 customers now across 40 countries. The 40 countries is something I'm particularly proud of. We remain focused on ensuring that we're doing this internationally and everywhere in the world where property casualty insurance exists. I want Guidewire to exist and propel those companies forward. 23,000 consultants in the ecosystem, 3,400 employees, and 190 technology partners. That last statistic is growing fast. I guess I should guarantee that it'll be above 200 by next year. So the other thing about Connections which is kind of fun: we talk about product, we also talk about the stories of business outcomes. This is a thing that I would encourage everybody to do, everybody to think about: go meet people, go grab people, and find out what they've accomplished, what have they learned, what changes have occurred in their business as a result of the effort associated with these implementations. You'll hear stories like Westfield, where they were able now on the InsuranceSuite platform to launch new insurance products in just four to eight weeks. Or Velocity Risk, an InsuranceNow customer. Do we have any InsuranceNow customers in the audience? Can you please give us a hand? Okay, thank you. Velocity Risk has now achieved 98% straight-through processing on the platform. Or Codery, who's using our Hazard Hub data to improve their loss ratios by 6.5% using the data and analytics and risk factors. We're going to talk later in the presentation about Hazard Hub, something that we think is going to have a very positive impact on this industry. So it's a lot of success, a lot of great stories. But I think I would be remiss not to point out that this has been a particularly challenging year in the insurance industry. I was reading the New York Times in August, and please don't judge me, I love the New York Times. I also love the spelling bee in the New York Times, and I do that every day. Yeah, somebody we can meet afterwards and you can help me with today's puzzle. But I was reading this article and saw this article about insurance and I said, 'Oh my gosh, this really sums it up.' I want to read this quote that came from this article: 'Reinsurers increased prices have accelerated changes in an industry grappling with a new sense of uncertainty. The world is warming, storms are getting more intense, inflation has increased the cost of rebuilding after a disaster, and global increase in interest rates is making money itself more expensive.' And I thought to myself, 'Doesn't that sound like a lot of fun?' It has been a tough year. Whether it's the persistent inflation that has caused the price of building materials to fix a home to go up about 35%, or the 20% increase in the cost of fixing a car when it breaks or gets in an accident, or the cost of reinsurance that has gone up 35% and the demand for reinsurance which has gone up 15%, or the factor that's really driving a lot of the long-term problems or long-term opportunity maybe in the industry: weather-related risk, where we've had the third year in a row with over a hundred billion dollars of insured loss, and just in the United States we've had 24 unique incidents with over a billion dollars in loss. All of these things together have made this year particularly challenging, but I think in general points to the concept that this industry itself is particularly challenging. I think that the job of insurance professionals, I think particularly technology executives, technology-focused professionals in property casualty insurance, it is a very tough job. It's a tough balance between delivering systems that are efficient but also innovative, delivering systems that are scalable but also flexible, or systems that are secure but also fast, and finally they need to be reliable but also extensible. So this is the pull, this is the tug, this is the balancing act that we all need to deal with every day. These are, as we like to say here, the heart and lungs of the operation. Without these core systems, the business doesn't even exist. And that is true across this entire lifecycle, right? Managing those tradeoffs, being able to be super reliable but also very fast, operate with a lot of agility, it's a very difficult thing to do. Our approach to solving this dilemma, solving this problem, has been to deliver a set of world-class business applications: ClaimCenter, PolicyCenter, BillingCenter, InsuranceNow, a suite of analytics applications that will facilitate your ability to harness that complexity and deal with it as best you can. But as a cloud provider, we now start to see a new opportunity. We see the potential for a new, more service-oriented approach to solving this problem. I want to be very clear: this is made possible by Guidewire being a cloud provider. We're able to do something new, and we can basically deploy these services across this application suite, and in the process we can improve every aspect of your company. Every aspect of your operation can become a little bit faster, a little bit more agile, a little bit more extensible without giving up anything when it comes to reliability or security or scalability. And we can deploy these services across the complete lifecycle, and in the process we can improve every phase of the P&C industry, decoupling these services from the applications, ensuring that they are modular and scalable but also interconnected and designed to support these applications. We expect to drive a very, very significant change in our industry. We're going to be able to enter and exit new markets with greater product flexibility using APD. We're going to be able to more easily leverage the incredible power of the insurtech cloud-based ecosystem with an integration framework that makes it easy to integrate these services into your core operations. We can achieve new levels of efficiency and compliance with a more flexible approach to rules management that sort of democratizes and disconnects the approach to managing these rules from your core systems. We can also optimize and automate business process across the lifecycle of insurance with a workflow engine that's specifically designed for P&C and specifically designed to work with our suite of applications. And we can optimize underwriting profitability with an accurate, data-driven pricing engine, a rating engine that's disconnected from PolicyCenter but connected to PolicyCenter so that you can change the pace around which you are managing these prices with data. And a data platform we can seamlessly connect data, insights, and decisions across every phase of your business and your operation. And finally, the one that we all watch and demo and we get is we can deliver new levels of customer experience, customer experience, and I even like to say sometimes consumer delight, with digital applications and user experiences that are honestly almost trivial to create, at least compared to how it was before. We're super, super excited about this vision, and we think together with the Guidewire Cloud Platform, trusted scalable infrastructure layer that's designed to support these applications, this new services layer that we're excited to talk to you about this week and will continue enhancing for weeks and weeks, years and years, releases and releases, best-in-class applications, a world-class ecosystem of partners, a world-class ecosystem on the marketplace of packages of these services, we think this defines a new standard for what it means to be a complete core system for the P&C industry. All right, I'm going to take a breath there and acknowledge that it is 15 minutes into this presentation and I have not yet mentioned the words generative AI. Now we are in the generative AI section. You are aware of this because it says so on the slide. I want to acknowledge that number one, we see incredible potential in generative AI and how it will be applied to the insurance industry. I also want to say very clearly that this is genuinely incremental. I don't believe that this is going to replace any of the things that we do and operate today. We still will have workflow, we still will have screens, we still will have databases. This is an incremental thing that we need to learn how to harness to augment and improve our systems. I also want to say it's still very early. It's a little over a year since ChatGPT launched, and we were talking about this as we prepped for this. Things that we would have done a year ago are wrong today, and I think that things that we do today will probably be wrong in a year. In that world that we are all living in, it's important for you to think about learning, think about staying current, think about adjusting, and not thinking about making too big a bet on any one particular path because this is still very, very early. I want to say very clearly: generative AI is not a new strategy for Guidewire. Generative AI is an opportunity to further our mission and further your success. This is our objective: find ways to use it to push the platform, push the products forward, enhance your experience, improve your operations. We expect mostly human-in-the-loop productivity improvement, not designing things that will replace people and be completely automated. We expect this to be a tool for human beings to become more productive. We also expect human-in-the-loop code generation. There's code written on Guidewire platform, there's integration logic written in Guidewire. We expect these large language models to facilitate that code generation but not do it in a completely automated way. And finally, the thing that I think you should see today is a new, more natural approach to user experience. I think this is one of the more interesting things about generative AI: it gives us this ability to create a computer system that interprets a lot of the complexity that is in the systems that we use and make it easier and faster for people to learn these systems, use these systems, and in the process become more productive. So we sat down and we thought, let's make a list of all the things that we can do with generative AI at Guidewire, and it's a very, very long list. So to help me talk about this and help me talk about the strategy, I want to welcome up on stage Amy Mullen, our Vice President of, as we like to say, herding the generative AI cats at Guidewire. Where are you, Amy?

All right, Amy, welcome. Thank you. So tell us a little bit about the journey that you've been on for the past year. As Mike was talking about, we started out by thinking about what is this new technology, what does it do particularly well, and then thinking about some of the challenges and the opportunities that that opens up. It was an interesting journey because we started with a lot of the problems that traditionally we've been like, 'I don't really have a good way to do this,' and generative AI really gave us that opportunity, those new tools. Once we did that, as you saw what Mike put up, that was just a fraction of the things that we came up with. So the next task was what are we going to focus on. So we've got something to show everybody which isn't the complete vision of this, it's just one thing, one thing that I think we think demonstrates the perspective that we have about how this can be sprinkled into the whole system. So what you're going to see is Gen embedded into PolicyCenter. So what we've done is we're in PolicyCenter, we can open up a particular policy, in this case a commercial lines policy. We've embedded Gen into the front toolbar so we can just click on that. What you'll see here is the initial prototype or version of what we're calling Policy Assistant. One of the things you can do, and this is more of a guided conversational interface which we think is an interesting pattern with Gen, is if we click on that button, then what the system is going to do is actually take information from multiple sources, structured and unstructured data, to give back the commercial lines underwriter a list of all of the losses on that policy. Now what's even more important, and one of the things we know is important in insurance, is to say where did this information come from. So the other thing we have along the bottom is a list of references, like a bibliography if you will. And if you click on the notes, you can see in the notes where we got that information. I think there's a super important point. I think of Guidewire and systems like it as a sort of store of all the facts, all the facts related to our business. And I think in our industry, facts are very important. Am I insured? What am I insured for? Has there been a claim? These are facts. We don't really want to make these things up. But we can use generative AI, we can use a large language model to pull together all of those facts and summarize it for the end user in a way that's more convenient, more elegant. We're pretty excited. We're very excited about it. So this is just one thing. We are also going to show a few more things throughout this week and also tomorrow in the day two keynote. But I wanted to thank you very much for showing us this. And if you've got ideas about where other places, Amy Mullen is the person to talk to. Thank you very much, Amy.

It's just a very short demo, and there's a whole bunch more to come. But I really wanted to stress one thing before I turn it over to the rest of the team. People ask me like, 'What should we do to prepare?' I'm biased, I admit the bias, but I genuinely believe that the most important thing that every single one of us can do is get to a modern, cutting-edge insurance platform. If you want to take advantage of generative AI, you have to get to the state-of-the-art. You have to get the integration framework, you have to get the APIs, you have to put yourself in a position to be able to take advantage of this potential. That is really the most important message that I would like everybody to be thinking about. All of this stuff will evolve quickly, and the people that position themselves on a modern platform will be advantaged by that work. They will be in a better position. So that was the end of my section. I want to walk you through quickly the rest of the lineup for today and tomorrow and give you a little pitch about coming for tomorrow. Next you're going to hear from Diego DeLia. He's going to talk to you about our platform and all the application functionality that we're excited to talk about in Inbrook. You're going to hear from Michael Howe, our Chief Product Officer, about our marketplace strategy and where we're headed there. You're also going to hear from Chris Folman, who's going to do an incredible presentation on our analytic strategy and Hazard Hub. You're going to hear from Christina Co, who's going to talk to you about our customer programs. And then in a very special, and I would argue a little bit audacious and maybe a little bit risky kind of segment of the presentation, we're going to do something pretty cool. Aubrey's actually going to come up in the middle of Diego's presentation. I'm not going to steal what he's doing, but I was pretty impressed when they said that they wanted to try this. So anyway, you'll hear from Aubrey what that's all about. And then our amazing Laura Dreck, our Chief Evangelist, is going to talk to you about our vision tomorrow for generative AI and where we think this will flow and how we think this will flow out into a number of our different products. So with that, I would like to thank you and I would like to turn the stage over to Diego.

Good morning! So first of all, everybody always says 'I'm really excited.' My son is turning 12; he grew up in this country, he uses a term completely different, so I will say I'm very pumped to be here today. I'm pumped because we've been working for a year on tons of cool things, and we have a very, very full agenda the next 30-40 minutes to show you. I have actually so much that our speak coach on the back, he says, 'Diego, remember you have so much, speak as fast as you can, otherwise you will not make it.' So let's start. Five years ago, we described our strategy. For those of you that were at Connections in 2019, you probably remember we wanted to anchor this transformation on InsuranceSuite. We wanted to build a layer of API to surround InsuranceSuite to enable core service extension. We wanted to couple this with a data platform, and more importantly, we wanted to make it digitally native. So in 2019, the race started. First step was to deliver the GWCP platform, and in 2020 we followed that up with APD and with the first layer of API. In 2021, we coupled that with the integration framework and the first set of go product leveraging APD. And last year, for those of you at Connections in 2022, we launched the fast update and the digital platform as a GA. So if you kind of look, we didn't really release once per year; we actually started to release multiple times per year. And this year is the first year that we actually started to break the rhythm, moving from two to three times per year. If you try to calculate everything that we brought to you on the cloud platform across the last three years, you can count around 750 new features, 1,500 go-to-market announcements, and yes, a few bug fixes. Now customers started to move to GWCP early 2021, but what is impressive is that in the last 18 months we doubled the number of customers. Today we have more than 100 customers on GWCP. I typically say that I like round numbers. When you have 10 customers, you can start to think about building a platform. When you have 100 customers, you can say you have now a platform. So today, the vision has been realized. We have the world's best platform on P&C. But why are our customers adopting this platform predominantly? I will say there are two reasons. First, they want to minimize their IT cost, and second, they want to shift more investment and generate more value for their business. But also what has been very interesting in this journey is that our goals and the customer goals have been pretty much aligned across the three aspects of our platform, of our cloud. On the platform, we wanted to have an efficient-to-operate application, always current. On the application, we wanted to make it easy to configure and enable all kinds of innovation. And on content, we wanted to enable fast implementation, and we also wanted to offer the same level of product across the world. The platform today, as mentioned, has more than 100 customers, is available in 10 regions. We constantly at the same time manage more than 1,400 environments. To date, we had 48 customers that made updates, or actually some of them made multiple updates already. And we start measuring the number of API calls. You remember part of the vision was an API layer to foster external service, and those calls are growing at an incredible pace. Just in the last four months, they grew up to 60%, now totaling 170 million calls. Actually, recently our partner from GigaForce, Sanj, said that we have the best API in the P&C industry. But the platform is not only API. A platform needs to be always running, always available, always monitored, always in control, of course always performing, and what we really like the most: always current. G. de Laier from Wawa recently went live a few months ago and in a quote said, 'We're impressed by the growing maturity of the Guidewire platform, and the platform enabled this adoption.' And what I just mentioned before, in the last 18 months we've almost doubled the customer because we've been able to automate everything that was typically a big IT process. So now from the initial customer request, when we have a new customer that asks us to provision the initial system, to the point into which that system is fully provisioned for the first time with very complex configuration that are customer dependent, like some of them want HBPQ, quoting availability, quoting volume, or some others want some different kind of capability, it takes three hours. We had, as mentioned, to date eight releases. 100% of our cloud customers are running on one of the last five, and 80% of our cloud customers are running on one of the last three. But our ambition is to have all of our customers running all the time on the latest release. This is why last year we introduced what we call Snowcat. How does it work? I want to cover it a little bit later. So imagine that you're running Garish and you have a customer layer that works on top of our standard functionality for Garish. Once we start building a Kuba, that in this case we start building a Kuba somewhere in the May time frame, we constantly validate your code against our code on a daily basis. Every 24 hours, we're almost running a couple of thousand checks every day across all the customers. And at the end of this process, once we are ready, once we have validated every single customer, we make the release available to you. On the back side, we actually have multiple dashboards. Here I'm showing you a couple of them. On the first one, you can see a snippet of all the customer projects at any given moment in time during the release. So this is during the development of Akuba in this case, and we're monitoring what is the level of error and everything that needs to be adjusted. On the other side, you can see that we constantly do that against the last two releases. So no matter which release you're running, we're always validating your release against the last two. So today here in the audience, if you check on your accreditation, if you're a customer that is live on GWCP on one of the five releases that I just mentioned before, you will have a green dot. But if you've done at least one update, you will have a blue dot. So we encourage you to have conversations with customers with the blue dot and to see what was their experience. And cut us a little bit of slack; we have been improving that experience every release to the point that Eric Maku from Beva recently said, 'What used to take months now takes not even weeks, it takes days.' So no matter which release you are, if you are on one of the latest five releases, we got you ready to go on a Kuba. Now on December 1st, we're launching Inbrook, and as of today we have 85% update ready, and by the time we get to December 1st, we're going to have 100% of you update ready. So again, my son will say, 'We got you.' So now let's go into Inbrook. Inbrook is the best release so far from a point of view of business value and application value. Across this journey, across the last few years, we were naturally forced to prioritize initially features around platform enablement, but now you're going to see us accelerating into the application and the business value. You can see that Inbrook has 239 new capabilities, 68 feature enhancements, and magically less product fixes. So this must be a good sign. So there is a lot of things that are available at the application side. I encourage you to watch all the breakout sessions. There are a few of those that I want to start with. The first one is Autopilot and Workflow Service. A few years ago, we launched our vision for Autopilot, and across the year we learned how critical and important workflow and the workflow service and the workflow definition was to really fulfill that vision. We launched that in EA as early access modality last year, and I want to show you a video of a customer that started in the Early Access program. When we are able to fully automate a claim, it really boosts customer satisfaction a lot. This we are already doing with configuration, but we have to use technical experts to achieve what we want. If you have a low-code setup, then you could do it with the business user. Autopilot is a low-code, easy-to-maintain tool which is built on a robust platform. It has all that we wanted: integration gateway, app events, workflow activity that can take the claim down to manual intervention and take it back to automation. When it comes to future visions and goals, sky is the limit. And this was Trig, one of our Early Access customers on workflow and autopilot starting last year. Next, as part of the vision I mentioned, critical was to build a data platform. We worked across the year to make the data platform stable and reliable, and now we are starting to offer value on top of the platform. With Inbrook, we are releasing as GA Data Studio, and this is going to come in combination with the new version of Explore that is now localized worldwide. So you can use this combination to access, to visualize your data, but also to extract data. Those could be raw data or what we call the curated data set that in my personal opinion contains much more value. Next, still talking about data, we have made tons of progress on Predict. Predict now comes with many more predictions as part of Inbrook, and a couple of features that we're going to showcase later on: one is Analytics Manager and the other one is T-Tuner for pricing impact analysis. So stay tuned, it's coming later in the presentation. And last, as part of the vision, we said InsuranceSuite must be digitally native. Why? Because we wanted to offer the product agility that in combination with APD will enable you to change your digital experience without having you to rebuild and rebuild every time that you change a product. So number one: agility. Number two: we wanted to reduce the operating cost. If you don't have to rebuild, lower cost. And number three, and probably the most important, is to offer the best experience to all our customers. So last year, as part of Connections 2022, we launched what is our answer to make InsuranceSuite digital. We call it the Jutro Digital Platform. You probably remember this slide from last year where we introduced the concept of application template and micro frontend. So similar to Autopilot Early Access last year, the Jutro platform was Early Access, and here is a customer that is adopting it. Digital is a key strategy for us. The Jutro platform provides a lot more flexibility than what we had. As we build the digital experience, the Jutro platform reduces the manual tweaky work and allows it to be built at speed with flexibility at a lower cost. This ensures that we get a much improved digital outcome on a modern technical staff. The Early Access program allows us to get ahead of our competitors. We've also identified that we can build internal applications so that our field agents can use applications that are custom built in Jutro, which was never in our expectations. And this was Hollard again, an Early Access customer. And this modality into which we build a feature, we enable it as Early Access, we look for some of you customers that want to adopt that early access capability from which we can learn, improve it, and get to the GA date. So Jutro started as a design system with a set of components, with a component library, and then we enhanced that as I said last year with the concept of micro frontend and an application template. And today we're wrapping all this into what we call the Jutro Digital Platform. In this slide, the Jutro Digital Framework that enables applications like Sage apps and will enable any new apps, any new experience that our customer wants to build. So to make all this more real, we built up an interesting demo. And to help me out on stage to make that real, I would like to invite now on stage Julie Sturmer, Senior Director of Digital Platform. And please also welcome the two people who will make this live demo possible: on your right, Diego, and believe it or not, Diego. Yes, if you ever want to work on the Jutro team, you know which one is the number one requirement. Okay, let's start.

Okay, so let's start this demo the same way we did last year, by creating a web application, but we can now do it in just three clicks. So you'll see Diego up here entering it. First thing he does is choose the type, in this case micro frontend. Then he's going to pick an application template to start from in that dropdown and click the Create Application button. That's it, and we're ready to launch it in just a few minutes. The power of the platform is not only design and development; what I think is unique is a fully automated self-service developer lifecycle. Absolutely. You can see right here that we've already created 20-something applications just in this demo environment. But probably the feature I'm most proud of in this platform is that we have completely automated from creation all the way to production the entire digital development lifecycle. So that same digital developer can not only create the applications with all the code pipelines and the build pipelines, they can deploy it out against any InsuranceSuite planet that they want to test against through self-service, and when they're ready to go to production, they can also promote it to prod and pre-prod. As you can imagine, we have this running in our lab since quite some time, and we have really to control the number of apps that our developers build, otherwise our cost will go sky high. So we made it so easy that we need to monitor that. But creating an app takes actually between 3 to 5 minutes. What you can see here, there's a creation still in process. We made it all the way to 5 minutes, but not fast enough for a live demo like this. So we have pre-created that app. Let's swap directly to the application that we created and the micro frontend that we picked. So Diego is now interacting with that out-of-the-box web application we just built. It's automatically pre-integrated to InsuranceSuite and the InsuranceSuite APIs. I mentioned that it was a micro frontend. Why is that important? Think of this as a flexible web experience that's meant to be reusable, so you can build it once and use it many times, which is super important for your business cases such as embedded insurance. And as I mentioned, the entire Jutro platform was designed to work in with existing Engage apps. So let's see how an existing Engage customer can take advantage of a micro frontend that was actually built on JDP. Absolutely. As you'll see on the other Diego's computer, that exact same running micro frontend, exact same code deployed once, is now running in Producer Engage natively. And because it's a separate micro frontend, when you want to deploy out changes, say if you change your flow or your line of business, you don't have to change Producer Engage. You just redeploy the micro frontend and it works just like that without even restarting. So with Inbrook GA in a couple of weeks, how many application templates are we going to offer out of the box? So as you'll see in the dropdown, we have five application templates currently out of the box. We have two that are Early Access, and of course we'll have more in future cloud releases as well. So JDP makes InsuranceSuite digitally native. That's why we say JDP makes InsuranceSuite digitally native, enabling speed and agility across all the market. But now, while engineers get excited about a GA launch, they are way more excited about working on new things. Not just engineers; product managers get excited about new things too, obviously, right? So let us give you a sneak peek into the J and K release. And for a lack of imagination, we call this the Jutro Editor. So let's jump right on it. Back on the Diego screen, you can see Jutro Editor. This is a visual development tool. It enables digital development to be radically faster because you can see in real time the changes that you're making, and you can make, instead of going into code, many many changes through configuration. So obviously that template comes branded with Guidewire; you're not going to want to use it that way. So Diego is taking it and he's updating it to use a cool new consumer oxygen brand. You'll see that on the right panel he can just pick the design token that we got from the design agency to get the coloring and shading exactly right. And my favorite feature: you can see the mobile and the web aspect ratio in real time in front of you. So when he dropped our logo in, you can see immediately it won't work for mobile, and he can fix it by reconfiguring it without having to deploy it and without having to write any code. So let's publish out the changes and see how this takes effect. This is why I'm pumped. And all this is done without any code change. But the power of the editor combined with APD does not limit us only to cosmetic changes that are for sure important, but what is even more exciting is to do deeper changes like flow changes. Absolutely. So let's go back into Jutro Editor and we'll walk through a scenario. So our marketing team has come to us and they said, 'Look, we looked at our web analytics. We're losing too many people on the landing page. We think we're asking for too much personal information. We want to simplify that and push those changes down later in the buying cycle when they've made that purchasing decision.' So as you can see, for Diego to make those changes, he doesn't have to jump into code. He can just go through, delete the fields, and he immediately sees the impact that that's making, and he can make it match the UX design that he got from the designers. The second thing that our business analysts have been suggesting was let's move the vehicle details before the driver details. This is a better flow. And as you can see, it's being simply drag and drop, moving it up, and that's it. So he didn't have to go into the wizard flow code to change it; he just did drag and drop. Final thing: in PolicyCenter, we used integration framework to create an integration to VIN lookup, and we'd like to take advantage of that here in our digital experience. So to do so, we'll add a new UI field, and because of the power of the Advanced Product Designer metadata that we have, he can just go over to the dropdown, choose that VIN field, it automatically connects it both to the APIs and to the PolicyCenter data in the back end. And once again, we can publish out those changes and see how it looks. That's amazing. And again, everything that we did here in this demo was drag and drop. So now, similarly to before, let's go back to Engage. Yeah, so we'll let Diego bring back up Producer Engage. Let's see how it looks in there. Again, he doesn't have to change Producer Engage; he just hits refresh, clicks on the Quote and Buy button, and there's our simplified flow. Maybe we should have designed it like this in the first place to make it easier for the audience to understand the flow. This is why marketing people are smarter than engineers, just as Brian Desmond said. So now you can see our improved vehicle details page. It's also second instead of third. And when he pastes in the VIN, look closely here, there is that call back to the VIN lookup. A much better experience for your consumers. And the extra thing here is that typically customers want to take the out-of-the-box template and something like this, they want to capture it and make that their own template so that downstream they can reuse this modified flow across all the different applications. Absolutely, Diego. So the piece of feedback we heard in Early Access loud and clear is that once you make changes like this, especially branding and theming, you want that to be the starting point for your digital development. So coming in Jasper JRA, Jutro Digital Platform customers will be able to save off templates like this and start your digital applications from those, making that digital development journey even faster. In summary, Jutro is a design system, a component library, an application framework, and is GA in 2024. We're going to have more application templates coming your way, and we're going to launch the codeless editor. Absolutely. So we have so many Jutro Digital Platform sessions over the next few days. I hope to see you all in many of them. Thank you. Thank you, Julie. Thank you, Diego.

Thank you. Now next, I want to shift back to what Mike introduced before with this concept of core service interconnected, modular, and scalable. But I also want to bring you back to the vision, the initial vision that was an insurance with core surrounded by an API layer to enable external service. Now five years ago, we didn't have a grip exactly on each one of those services, but our customers were asking to do things outside of the core in a way that was not forcing them to rebuild the core every time they wanted, for example, to build and maintain integration outside of the core. They ideally wanted to do that maybe nothing in go-to, they wanted to do a product definition without code. And so across the years, the definition of those services became a little bit more crystallized. Earlier on, I just showed that workflow was a critical element as our Autopilot journey. And so those seven services really make our application better. And so now what we want to get you into is how those services make claims better. We built an interesting scenario. We're working on an inter scenario where we're going to go from data to integration to workflow to rule back to data. That's pretty complex. So I will ask to join on stage Rashma Iyani, our Senior Director for ClaimCenter and Autopilot, to help me.

Thank you, Diego. And this will be a live demonstration, and my colleague Jeremy will be driving the demo. So you see digital D playing day. Okay, let's go. All right, we're going to jump directly into Explore for Claims. And here you see we have a live board. You can see our average days to close are around 17 days, our average paid severity is around $7,000. And now this is across all of my claims, but in particular I want to see my low severity claims. So I can filter on low severity, and now we can see our average days to close have reduced to 10. But I think we can get them even lower, and same with our paid severity, it's about $4,000. But for these simple claims, it can be less. So now when we navigate to the Autopilot automation efficiency tab, you can see that our ratio of automation is only 15% of those low severity claims. So again, in this scenario, we're going after a logic of low severity, higher automation. It's only 15%. We want, and as you can see, the vast majority of the adjusters are human adjusters and not Autopilot per se. So how do we improve this 15%? Well, to improve the 15% automation ratio, we need to look at the Autopilot Workflow Service. So here we have our claims automation workflow for personal auto. So let's see how we can improve the automation of these low severity claims. The first step on the flow, we're leveraging an integration with one of our fraud partners. There are a few of them in the Pavilion; go and visit them. And then we have a set of business rules which indicate whether the claim can continue down an automated path or should get to an adjuster for review. Now let's go back and open Cloud Rules. And here is the logic to make the claims adjudication process as efficient as possible. So this is one of the externalized services that we mentioned before. And we can open up the first rule in which you can see where the fraud check, where there was a compare score returned from a fraud partner against the threshold of 50, and this then determines if the claim should stay on an automated path or it needs to be assigned to a human adjuster. Now let's improve the workflow. What we're going to do is we're going to add a new Predict Severity model by dragging and dropping it into the workflow. The severity model is one of the new intelligent Predict models available in Inbrook. So after we make this change, let's go into ClaimCenter and let's look at a claim that's been fully automated by the workflow. So here we have a claim that was assigned to Autopilot. It had a low fraud score and it had a good severity score. How is this severity score calculated? Actually, yes, well that's a great question. So within ClaimCenter, there is an analytics tab and that contains the breakdown of the severity score. So this has all the contributory factors. And for example, the first factor is the days between loss and report. And in this instance, the claim was reported immediately. The higher the score, the better. This works a little bit like your credit score. That's right. So no fraud, low severity claims are paid and closed by Autopilot almost immediately. So in contrast, as you can imagine, if you pick a claim with a bad severity score, what is going to happen? So those will be partially automated. And in this case, the claim was flagged as high severity, and Claims Autopilot created an activity for Andy Applegate, the adjuster, to manually review. Okay, so now fast forward. Let's assume that we've been running this adjustment for a few months and more claims are coming. Let's go back to our Explore view and refresh. And when we refresh our live board in Explore, we can see that our automation percentage went up to nearly 60% because now more low severity claims are fully automated. What we talk about across the years was really agility across the flow. So carriers are challenged to constantly improve the overall claim efficiency, and externalized core services provide this business agility they need to succeed. Is this available now? The Autopilot Workflow Service is generally available with Inbrook, and we have plenty of sessions at Connections both on ClaimCenter and Autopilot. So please join us for some deep dives. Thank you, Rashma. Thank you, Jeremy.

So next, you might wonder, okay, ClaimCenter got better, how about PolicyCenter? So on PolicyCenter, we have created a scenario that actually plays with dynamic rating and pricing that requires way complex orchestration across those. So we have a scenario in which you start with the quote, then we will realize that we're missing a coverage, we go on APD, we change the coverage, we change the rate, and we do...

All that in real time, but it's pretty complex. So to do that, I would like to invite back on stage Amy Mullen, our VP of product management and application.

Okay, so let's start this safe dance. Let's go. Thank you, Diego. So for this live demo, I have John and Alex helping us out. Okay, let's go. Let's go. So we're gonna start patient this morning. I'm running out of time. I told you didn't to speak faster. That was the goal. Take a deep breath. We're going to start with a quote in JDP, and this is the out-of-the-box micro front end we showed you before. We have a collision coverage implemented, but we haven't implemented the liability yet. So what you're seeing is us taking the commercial auto go product and doing the steps of the implementation. We've started with collision. Now we're going to implement liability. So we've gone into advanced product designer and we're going to make the liability coverage available or active. This could be any coverage that you have designed on APD. We are using this active mechanism to actually speed up a little bit the demo. Otherwise, it would have done into design and creating a new one. It would have taken longer. Now that we made the changes in APD, these are automatically being synchronized to Policy Center. So the next step for us in this simplified flow of the implementation is to open up the new rating app. And what we're going to do is we scroll down. As you can see, all the base rates for the new coverage are zero. Clearly not right. So John is going to upload a new base rate file into the rating app. Now the rating app provides modular rate definitions, so you could also define new algorithms or rate factors, and we can also reuse existing portions of rate definitions again. Orchestration in and out of course service. The rate changes are automatically picked up by Policy Center and by JDP without any restart. That's right. So now we're going to be able to go back and requote on the same JDP micro front end that we started with. Not yet, not yet. Here we go. So now you can see as we refresh the quote that this time you'll see the liability coverage in addition to the collision coverage on the quote. Again, agility with the product model, agility with the rate change enabled by externalized cost service. But now, once a new line of business has been launched, typically our customer requires to monitor the product performance across time and continuously fine-tune the rate. This is why we've created a new module in Predict called Tune, and we're going to see how this works today with one very simplified example. You can get more details in the demo kiosk in the demo theater this week. So in our demo use case, we've identified that there's a problem with profitability on the new coverage, and we know that we're going to focus in on the vehicle age. So we've created a scenario to adjust the rates for newer vehicles, and we're going to start by smoothing the curve for rates, and then what we'll do is actually add an additional surcharge for cars newer than two years. And then we're going to run this scenario to visualize the impact of the changes in a specific jurisdiction. Now we know your rate changes are much more complex than this. They're not only based on one dimension, and you may have to make many changes. So Tune has additional capabilities that will help you identify which segments are underperforming and evaluate the impact in more complex scenarios. But in this example, we can now visualize the rate change percent impact by ZIP code in the state of Georgia, which is in our example where we're making these changes. That's great, but what's even better, and that's again why I'm pumped, is that in Tune we can export this and load them directly in the rate engine that you just saw before. That's right. So let's go back into the rating engine and we're going to import the rates that you're seeing Alex exporting right now. So we go into the rating engine, and just like we did when we initially made the liability coverage available, we're going to go in and we're going to upload the file that's been exported from Tune that has the new rates for liability or for collision. Sorry, yeah. We're actually working on automating that step and not even have you to export and reimport here. The beauty of things is that once it's being uploaded, you can see that the collision factor of 1.2 matches exactly what was the collision factor as part of Tune. But now, as you could imagine, let's go and requote without restart. And in this case, the car we're quoting is a relatively new vehicle, so we expect the rates to go up from the original 403 quote. And there it is, 432. It's amazing. It's amazing. So again, product model, rating, pricing, and digital all in one platform. Is this available today? This is all part of the Early Access program today, and we're interested in talking with all of you to see if you're interested in being one of our Early Access adopters, giving us feedback, and working with us to get this to GA. And next year, maybe a video. Next year, maybe a video. Maybe a video. Thank you, Amy. Thank you, Amy. Thank you.

Okay, so last part. What I want to cover is core service enable flexible and faster configuration of the application. We just showed a couple of examples of that. On top of that, what all of you need to do is you need to do an implementation to actually reach the solution. So across the year, we came up with this concept of package content to make those implementations faster. In the last two years, we productized the entire infrastructure for content delivery framework, standardized the way that content is delivered to you, we also made it updatable, and across the last two years we started to increase a bigger set of go product and delivering market-specific content in the different countries. Once again, as I said at the beginning, to make sure that we can offer the same level of capability across the world. But now with the core service, what you're going to see us expanding into is going to be expanding our support of those core services across every single dimension. The go products are already an expansion of the product digital we just talked about. Application template five today and more coming next year. We have a marketplace full of integrations that you can harvest, and Michael is going to talk about that. So this is why content, application, and platform is the world's best platform for P&C. So again, my son will say we got this, and he will say we are here now to show you that we are here. Let me invite on stage Aubrey Kip, VP of technology and innovation, to do probably the most interesting demo we have done to date on connection. Aubrey, what are you doing?

All right, thank you Diego. And greetings to everyone. Mike said we're going to do something audacious today, and we're going to do something that we've never done before here at Guidewire, and we want to leverage the power of the whole community to do it. Diego, let's set a backdrop. Many of you have bumped in the halls and down the walkway. I've served at Guidewire over a decade and helped many of you implement your projects into production. And we will demonstrate really the evolution of our tooling. A decade ago, even five years ago, two years ago, we would implement and do development that we're doing now, and it would take us six weeks with a team of developers, coffee 24 hours a day. It would take us eight weeks just to get a prototype that was decent. And at that time, six weeks, eight weeks, sometimes 12 weeks, that was fast. Today, we want to destroy and break that mold. So now it's 24 hours. I guess we keep the coffee as part of this analogy. Only 24 hours. Who is going to be your team lead for this? So us senior director Demitri Remuk is going to be our team lead, and we're going to build a brand new application end to end in the next 24 hours. And we want to invite you to help us build it. Let's leverage the power of the Guidewire community. That's amazing. So again, we're going to scan a QR code, we're going to get you through the steps. We did this for two reasons. Reason number one, we wanted to make sure that the community picks the experience, yes. And reason number two was also to prove to you that we can do this in 24 hours. So get your phone ready and let's go scan the community adventure. Absolutely. Grab your phone out. You can scan this QR code or you can enter this tiny URL right in. And every voice is critical in this exercise. So step one, what's step one of the choice? Step one, we want you to choose your brand. You saw Diego and Julie leverage the ease and the power of Jutro for you to create your brand. Your brand is important to your voice as a carrier. We wanted to make it easy for you using the Jutro design system to select a brand. So we want you to select the brand. We actually built this application on top of the Jutro design system, and personally I find it very exciting. And while you are in the application and you pick the brand, the app restyles itself live to give you a sense and the immediate feedback of what the style is. Next, beautiful. Then we want you to select your interaction. We'll be using APD with our design teams where you can build a personal line or a commercial line. Six lines of business to choose from. Choose the personal or commercial lines that you want to see the solution development team build next. And last, and then last, we want to select a policy interaction or claim interaction. Choose the interaction you want to see. Diego, this is going to leverage some of those application templates that you discussed earlier. Cool. And then submit, and off we go. So let's take a look at the live dashboard that Dimitri put together to show what is going to win. We have an internal bet on what is going to win. I don't fully trust Dimitri that has not rigged the system, but let's see what's your prediction, Diego. I don't want this. I don't want to influence the audience. Otherwise, all right, awesome. So right now, looks like Haven brand by far, and then we've got neck and neck between personal auto, business auto, and looks like quote and buy. Okay, so since we are running a little bit out of time, let's call it now. Let's see if the winner is... Mhm. All right, so Haven will be our brand, personal auto will be the product line, quote and buy will be the interaction. So we've got our marching orders there. We've got the marching order. Now let's start. The first thing in starting this 24 hours is actually building a system, enabling a system on top of the tenant. So last year, you probably remember on stage with me, G is the VP of product management and is the father behind a lot of the GWCP functionality. We are working on some service capability so that every customer can add a non-development environment on their own. And so that's what we kick off here on screen is picking up a new planet. We're going to give it a name and we're going to create type of cost plan. Let's not focus too much on that. And then the next things, we reload a page because again this is a feature that is not fully available yet, it's still in finalization. And as you can see, there are all the centers. So what do we need for this demo? Do we need everything? We need everything. We're going to show end to end, so we need every center launched and spun up in this environment. Okay, cool. So got it. Press create and off you go. You have 24 hours. All right, we'll see you in the morning, family, at 8:30 so we can show you the results. Thanks Diego, thanks Aubrey. See you tomorrow.

And now, let me introduce Michael Alo, our chief product officer, that is going to talk to you about the power of marketplace. Michael.

I love that song. Gonna date myself by saying so. Um, good morning. Well, first I should say thank you, Diego, and good morning to all of you. My name is Michael Alo. I'm the chief product officer here at Guidewire. This is my first Connections event so far, just incredible. I'm really thrilled to be here with all of you this morning. Thank you for being here. And I for one cannot wait to see the outcome of that community demo. Who knows? Um, so anyway, let's jump in. So let's continue with and build upon our theme this morning of community to do so. I'd like to expand our focus now beyond our Guidewire products and introduce you to the extensive community of partner solutions and expertise that comprise the Guidewire ecosystem. So what is the Guidewire ecosystem? Well, it is the largest ecosystem of system integrators, technology partners, and integrated solutions entirely focused on the P&C industry. And at the foundation, the ecosystem is about you, our over 500 plus insurer customers. To augment the products and capabilities that Guidewire delivers, we have worked together with our partners to deliver over 220 pre-built integrated apps. We enjoy the support and deep expertise of a network of over 23,000 consultants with the insurance industry knowledge and technology expertise to help you get the most out of your Guidewire investment. And then we have our InsurTech Vanguards. This is our incubator program for the industry's most exciting and impactful insurtech companies. We scout out cutting-edge technologies across a wide range of insurance operations that we think you should know about. We have over 60 partner companies in the Vanguard program today, and many of whom are here with us this week. Then we have over 190 technology partners. A technology partner is simply another software vendor with whom we've worked to create a stronger, better together joint value proposition for you. Most commonly, this is an out-of-the-box integration between our products, certified and tested, so that you don't have to build that integration yourself. The Guidewire ecosystem is unique in our industry, and here's why it matters to you. The purpose is to help you be aware of and take advantage of the wonderful innovation happening all around our industry. We believe an open ecosystem gives you greater choice and flexibility to leverage new innovation in an integrated and seamless way with Guidewire. And we want you to be able to have access to all of that in a single place. The Guidewire Marketplace is our global hub of our ecosystem. It is your one-stop shop to discover and access creative new solutions with apps, content, and more from our trusted partners. All of these solutions sit atop and alongside our Guidewire products and the underlying core services of the cloud platform. These solutions are not only easy to access, but we've worked with our partners to ensure everything on the marketplace is well integrated. Pre-built integrations help you get up and going much more quickly and at lower cost. And perhaps most importantly, you can trust what's there. We employ a rigorous testing process to ensure the quality of every app we certify. The Guidewire Marketplace is comprised of three major categories: content, partner apps, and digital templates. Content, for those who don't know, is simply a collection of curated functionality that you can incorporate into your Guidewire implementation. It is a tailored solution for a particular line of business or a particular nuance in a specific country. As an illustrative example, there's a piece of functionality to help you remain in compliance with the local regulations of a given country. Content is pre-built functionality that gives you a head start on launching new products based on the best practices in a particular locality. Ultimately, the benefit of content is to provide you with a greater range of functionality as well as making it easier for you to incorporate into your implementation. The next category of marketplace is partner apps. Partner apps are pre-built, tested, and certified integrations to Guidewire. They span a huge range of solution areas including digital payments, claims estimation, fraud detection, and many more. Partner apps make it so much easier for you to take advantage of all these wonderful capabilities and incorporate them more quickly and at a lower cost. The third category is the newest: digital templates. Earlier, you just heard Diego describe our new Jutro digital platform. Jutro allows you to develop and deliver personalized digital experiences for any user across any line of business and distribution channel. Jutro provides you with a web application framework, a development workflow, and a full UX design system. And then there is also this concept of a digital template. Here, think of a digital template as giving you a head start on building a particular kind of digital experience that you'd like to provide for your customers, your agents and brokers, your partners, or even your own employees. Templates offer huge gains in your productivity and they help you craft digital experiences that can truly differentiate you from your competitors. So tailored line of business and country-specific content, a huge range of partner apps, and innovative new digital templates. This is all available to you in the marketplace today. You are able to introduce greater innovation more easily with capabilities you can trust. And as we look ahead towards 2024, I'm excited to tell you about a few of the new innovations we are delivering for you over the coming 6 to 12 months. We will continue to expand the breadth and depth of the marketplace to make it even more impactful for you. First, we will make it easier for you to access full applications directly from the marketplace. The first such example is Hazard Hub. Hazard Hub is an incredible product from Guidewire that offers comprehensive property and casualty risk data that help you underwrite individual properties quickly and more accurately. We are making Hazard Hub available via the marketplace to make it easier for you to gain access and get your hands on it to try it out yourself. Also new in the marketplace will be a range of new data integration capabilities that we call data connectors. A data connector is simply a pre-built connector to Guidewire Cloud that provides secure, low-latency access to your underlying core data. Data connectors provide capabilities that will help support various enterprise use cases including operational reporting, data warehousing, and more sophisticated insurance analytics. We finalized a number of new partners in this area including AWS, Google, and Microsoft. Data connectors for each of those partners and more will launch in the marketplace over the coming six months. And a third area of the marketplace will include data and analytics models. These are pre-built models that you can take and incorporate alongside the models that you've built yourself. Watch for more detail from us on these pre-built models in the weeks and months ahead. So in summary, the great Guidewire Marketplace of today will continue to expand over the year ahead with more content, new partner integrations, innovative templates to help you craft unique digital experiences, and a range of new capabilities that all sit atop and strengthen the underlying Guidewire Cloud core services. The marketplace is meant to be a single hub, your hub, to easily find and access all of these powerful capabilities. It is there to help you innovate faster with curated partners and content that you can trust. So now I'd like to bring this to life for you by demonstrating two examples of our partner solutions working in conjunction with Guidewire. To do so, I'd like to introduce and welcome to the stage my colleague Will Murphy, who is our vice president of global technology alliances. Welcome, Will.

Thanks, Michael. Welcome. You ready to go? Ready to go. First Connections also. All right. Well, thanks for joining us. Well, first up, we're going to go through two examples as I mentioned. First example is our partner Betterview. Will tell us a little bit about Betterview and how we've chosen to work together with them. Absolutely. Betterview is a property intelligence and risk management platform. They're applying artificial intelligence and computer vision on aerial imagery and geospatial data to provide property risk insights. Their mission is to transform property insurance from repair and replace to predict and prevent. Together, we are capturing the most accurate risk score, ensuring better decisions based on real-time data, all while improving the underwriting process. So what are you going to see today? You're going to be a member of the underwriting team. You're going to be using Policy Center augmented by Betterview and Hazard Hub to evaluate a property and make an underwriting decision. So as the demo gets started, we're going to see Betterview integrated seamlessly into Policy Center. The underwriting team evaluates in seconds the risk profile of a given property based on actual imagery, historical comparison, and creates a priority score. And thanks to the additional integration of Hazard Hub, we're able to have claim predictors capturing the overall risk exposure. This combined offering is the industry's first and most accurate peril risk score of an individual property, helping you to identify, manage, and avoid losses. So why does this matter? Underwriters can focus on exceptions, not get lost in the details. We can limit the number of inspections thanks to real-time imagery and data. And the insurer is able to underwrite more risk more accurately versus frequently not underwriting at all. That's super cool. So I think the key there is the combined power of the hazard data of Hazard Hub in conjunction with the vulnerability insights of Betterview. Correct. Absolutely. The two together provide a complete picture of a property risk in a single place. Okay, that's fantastic. Thank you. Let's transition to our second example and talk about a brand new partnership that we just announced last week in fact. The company is called Evolution IQ. Will tell us a bit more about Evolution IQ and what we've built together with them. Yeah, as you just said, Evolution IQ is a brand new partner, and their platform applies AI to track, analyze, and prioritize claims at scale for P&C insurers. Using sophisticated ML techniques, their solution can understand unstructured data, medical codes, and more. Together, Guidewire and Evolution IQ go beyond managing claims process to offer the claims adjuster up-to-date guidance, ensuring faster claims processing and better outcomes for both the insurer and the insured. What you're seeing here, and this should be a little indicative of what you saw earlier, is a claims adjuster working in the most modern claim system in the world, Guidewire, and extending the capabilities of Autopilot with Evolution IQ. This workflow in conjunction with Claim Center and Evolution IQ are determining which of the three paths you see here the claim will take. Will it be full automation? Will it be partial human review that can go back to automation? Or will it be manual adjuster handling through its entirety? So let's get into the demo. A workers' comp claim has been assigned to Claims Autopilot, which you can see at the top, and started on the automated path. A few days go by and a new medical report comes in which triggers Evolution IQ while working with Autopilot to reclassify the claim and the trajectory of the claim in Claim Center. Autopilot is still maintaining ownership of the claim now, but it needs the adjuster to manually review the details of the medical report before it can proceed with that automation, as evidenced by the activity that has now been assigned to the adjuster. In this case, Eileen Lang. Upon her investigation, she'll inform Autopilot if the claim should continue with automation or be retained for manual handling. Why does this matter to you all? We're reducing the time and cost by accelerating the claims process. We're leveraging the Guidewire ecosystem with intelligent AI solutions like our partner Evolution IQ. And we're showing that automation isn't binary. It's neither all automated or all manual. There's nuance there. Okay, that's super powerful as well. So I think to recap, the key there is that we've taken the AI capabilities of Evolution IQ and embedded that intelligence directly into the claims workflow. Do I have that right? Yeah, exactly. Autopilot allows users to define their workflow, and with the inclusion of those capabilities like Evolution IQ, they can make more informed decisions faster. Okay, thanks. Very, very cool. Thank you, Will. Hopefully these examples with Betterview and Evolution IQ give you a feel for the great innovation available to you on our marketplace. Thank you for your attention on this tour through the Guidewire ecosystem. Many of our wonderful partners are here with us at Connections, so I hope you will find some time to go introduce yourself and learn more about them on the show floor. So now I'd like to pass the baton to our next speaker, Chris Folman. Chris is our vice president of product management, and he's going to come on and tell you a little bit more about Hazard Hub. Thank you very much.

Thanks, Michael. So I've spent the past 15 years working in insurance analytics, and one of the biggest things that keeps me excited to go to work every day is knowing that our industry will play a very important role in tackling the increasing climate risk that we are now facing. And I think the P&C industry is just starting to figure out a few things about confronting natural catastrophe hazard. The first thing that we're learning is that we are not pricing for it as well as we should be. Five out of the top 10 biggest natural catastrophe insured loss events have happened since 2017. So the severity of these events is catching us by surprise, and it's representing an ever higher percentage of the industry's combined ratio. The second thing that we're learning is that mitigation measures really work. Policyholders and their insurers can take their destiny into their own hands to reduce and avoid losses. This is an image of what they're now calling the Lina Miracle House from the Maui wildfires this year. It is one of the only structures that survived in the Front Street neighborhood. And the property owner, when interviewed, attributed the structure's survival to a corrugated metal roof, defensible space around the structure, fire-absorbent vegetation at the perimeter, and divine intervention. But home safety measures change loss outcomes, and they must be more explicitly underwritten for. The third thing that we're learning is that the level of risk in between safe and dangerous parts of the same neighborhood or the same ZIP code are not being fully taken into account in underwriting today. Now the data and the science is there to be able to differentiate house by house. Now it's time for the underwriting to catch up. And I think this is one of the biggest opportunities of the next decade. And there are some promising new regulations in places like Florida and California that might make it easier to profitably write property insurance there. Which is why we are very excited about Hazard Hub, which we believe will change the way that property insurance is transacted. Now for those of you not familiar with Hazard Hub, it tells you everything bad that could happen to a home or a business in less than 2 seconds. More than 1,400 data points in all, gauging a structure's risk level. It's used by more than 200 of our customers in a variety of ways. Many use it for pricing, adding it to a pricing model to give it more predictive ability. It's used to pre-fill forms. It's used to sus out potential fraud on incoming claims. And increasingly, our customers are using it for marketing and segmentation purposes in bulk. Here's what one of our customers, Swiss Re, has to say about deploying Hazard Hub to their reinsurance clients. Hazard Hub enables underwriters to make better decisions at a faster speed with higher accuracy. We had a client that was growing really quickly. We overlaid Hazard Hub onto their portfolio, saw that the majority of their portfolio was moderate to high wildfire risk, which was very concerning. We had to put a cap on their growth. We would have run into real issues with the wildfires in California and out west if we hadn't had Hazard Hub guiding our risk decision making. What Guidewire and Swiss Re can jointly do with the risk insights is to help our clients make good risk decisions, good underwriting decisions, and set the right prices as they grow. Now, when you're doing something as complicated as quantifying flood risk, where just a couple of meters difference on something like a hillside can mean the difference between extreme risk and close to zero risk, it means there are trade-offs that our modelers are constantly grappling with between speed, accuracy, and cost. As an insurer, you need a very fast answer, you need it very accurately, and you need it delivered in a cost-effective manner. And I think Hazard Hub does a very good job at all three of those things. So I would encourage you to get your hands on the product and test it yourself. All right, so let's take a look at the risk of the property that we are staying at right now, the Gaylord. We fed the main address of the Gaylord to the Hazard Hub API, and in 1.6 seconds we got back 1,400 risk data points. And you can see some interesting stuff right off the bat. There is a leaking underground storage tank on site 629 feet away. We are less than 900 feet from a dangerous 100-year flood plain. But I think more importantly, Hazard Hub immediately highlights the risks that really matter. This property must be very carefully underwritten for convective storm risk, that's hail, damaging wind, tornado, mold, and catastrophic flood situations. Okay, let's drill down on flood risk a little bit because this is a very critical coverage for commercial property forms. The US government FEMA maps classify this location as low risk of flood damage. It's in zone X, it's outside the 500-year flood plain, due mainly to a levy that's just to the west of this property. The Hazard Hub flood model, by contrast, flags this location as very high risk of flood damage. Okay, these are conflicting answers. So what's going on? Well, as it turns out, this property is very susceptible to flooding. In 2010, parts of the Gaylord were under more than 10 feet of water after a period of extreme rainfall. The Gaylord was closed for 6 months for repairs, and it was a $250 million business interruption claim. The Hazard Hub model, as it turns out, is spatially aware and it accounts for accumulations of extreme precipitation that can happen in very short periods of time, whereas the US FEMA model does not. So we want to enable every Guidewire customer to take advantage of this kind of insight for any address in the United States or in Canada, very accurately, very quickly, and at the highest resolution possible. Whether it's for homeowners or commercial property, or other lines of business like BOP or marine cargo, or even auto physical damage, which is increasingly subject to these severe hail outbreaks that we've been seeing. Your location has a very specific risk profile, and with today's data it's possible to get that risk dialed in at a resolution of just a few square meters, to be able to deliver a highly customized price that reflects that location's true risk. And if we can use data and analytics like Hazard Hub to underwrite every policyholder to their true risk, then I think everybody in the insurance ecosystem wins. Policyholders are rewarded for safe behavior and mitigation. Insurers recognize a much higher return on their surplus. And regulators are happy because we can deliver an objective price that's bias-free and promotes a healthy, well-capitalized, competitive insurance market. But in order to adapt to increasing climate risk, carriers are going to need to stop pricing their cat risk by territory or by county or by ZIP code, and instead get down to the individual structure level. Now doing so might require some changes in underwriting and potentially some changes to the rate filing process, but it's possible. The data is there, the science is there, the compute power is there, and the regulators are finally willing to play ball with the industry on this. So it's time to seize the opportunity. And we're looking forward to working with you, your underwriters, and your actuaries to help surface this kind of insight and use it to its maximum potential, because I think the upside is very big for both policyholders and for insurers if we can get this one right as an industry. All right, I'll close with a simple ask. Please come test the Hazard Hub product yourself with your own address. I think you'll learn something about your own address when you give it to Hazard Hub and you see what it comes back with. I certainly learned a lot about my address. You can do so in two different ways. Either by scanning the QR code that's here on the screen, which will take you to a website called Free Home Risk, one of our websites, where you can enter an address and an email address. No spam, we promise. And we promise you'll just get a highly customized risk report very quickly via email. The other way that you can test it is by coming to the Product Lodge. There's an analytics booth. There are a couple Hazard Hub screens where you can put in your address and see what Hazard Hub has to say about it. If you test it at the Product Lodge, you will receive a token for a free specialty cocktail at Tuesday night's party. It's called the Raspberry Risk. I have it on very good account that it is a delicious cocktail. So please come test the product. So we're committed to your team's success in leveraging data and analytics on our platform. And to talk about that, as well as our overall approach to customer success, it's my pleasure to hand it over to Christina Colby, our chief customer officer.

Thanks, Chris. It really is powerful to see how Hazard Hub helps customers to drive underwriting decisions and profitability, and that has never been more critical than it is today. Building on what Mike said at the start, 2023 will likely be the fourth consecutive year that global insured losses will surpass $100 billion. And carriers are facing an unprecedented volume and pace of change. Over the next few years, we expect to see more climate impact, pressure from new entrants, competitors, distribution channels, as well as possible market consolidation. We want to help you to turn those challenges into opportunities. In order to help unlock that kind of value, we need to ensure that we are delivering what you need to act quickly and confidently in areas where you can be differentiated. Diego talked about delivering the best platform, and we also want to deliver the best experience, enablement, and support to make you successful in your initiatives. We have the best customers, and you give us really, really terrific feedback. We listened intently to your insights and direction about the things we can continue to do to enhance how we support you. Listening to your feedback, we have made significant investments in our customer success programs to truly enable and ensure your ongoing success. We have focused around three major areas. First, customer feedback, to continue to grow and enhance the ways that we capture and act on your feedback. Second, predictability, to drive reliable processes and new roles to give you confidence throughout your implementation. And third, feature adoption, to make it easy for you to adopt new features and achieve and accelerate your business targets and outcomes. Because of course, that is our fundamental goal. So first, about customer feedback. There are multiple forums where you can give feedback, whether you're on the business side or on the technology side. This week, we have a number of advisory teams gathering here at Connections. Everyone from the regional user groups who met yesterday, to our customer advisory groups for expert developers, our Developer Advisory Group that was launched in 2022. They meet regularly and they have given us fantastic direction. In fact, as a direct result of their feedback, we recently announced that Stack Overflow is the official public developer forum for us to use, where developers can help support each other. And we have a broad set of forums as well to gather critical business input, including five business advisory councils that we've already launched for underwriting, climate, London Market, security, and digital customer engagement. And we are launching three more so that you can give us future direction around claims, GenAI governance, and workers' compensation. Please let us know if you'd like to participate in any of these or the many forums that we have to capture your feedback. We continue to listen closely to the voice of our customers, capturing your insights to help us to sequence our priorities and to ensure that we enable precisely what you need. We know that you're looking for both new capabilities as well as ways to leverage your existing investments. And so listening to both business and technical stakeholders alike allows us to be certain that we thoroughly understand and know what we need to deliver so that you can meet and exceed your goals. Like this really fantastic example from Mountain West Farm Bureau, where we helped to establish personalized KPIs and next action alerts, which were a game changer for them. Next, the predictability of your transition program is paramount. Your success on the Guidewire journey gets established during your implementation. We are thrilled to say that every Guidewire Cloud customer goes live successfully. That is no small feat. That's a fantastic, fantastic thing. And so harnessing the experience of more than 100 cloud programs so far, we have created a new principal role to drive the transition. They manage the change, they ensure also that you're aligned to the Guidewire roadmap both now and into the future, and they also partner closely with an SI when an SI is leading the program. And we want you to be highly confident as you go into your initial go-live, because that sets such an important foundation for really all of your future deployments. We introduced a 90-day gating process which has significantly reduced the number of surprises that could pop up close to go-live. And so that rigor, in parallel to your testing and quality assurance stages, allows us to really shake out issues so that they can be addressed as early as possible. And we've also introduced the new role of the Cloud Go-Live Manager, who is an expert who's focused on driving the whole launch process, even down to the weekend itself, because we want to ensure that you are successful at every stage of your go-live. Now our cloud customers are benefiting from accelerated outcomes, and we want to be certain that all of our customers have that opportunity to take advantage of value as quickly as possible. For on-prem customers, we have introduced a Cloud Migration Factory approach in conjunction with our SI partners to accelerate our on-prem customers' move to cloud. Our new Migration Acceleration Badge has been awarded first to Capgemini, and now also to Cognizant, Deloitte, EY, and PwC, who have cultivated their experience and assets to considerably reduce the amount of effort to transition to Guidewire Cloud. Yet we know that going live on Guidewire Cloud isn't the destination. It's really actually the start of your exciting journey. Successful go-live is a very important milestone, but it isn't really the true goal. The real value of Guidewire Cloud is demonstrated in the ease of our update process. By ensuring that you stay current, you can take full advantage of new features and capabilities, and our roadmap really comes to life when you are able to rapidly realize results. Our goal is to have you on one of the two most recent releases. Updates are your future. The update process is night and day compared to the upgrade process of old. But how much do you believe me? Let's actually hear about the ease of the update process from some of you. Updates are critical for us. Just having gone through experiencing our first one, I was very excited at how easy it was, to the point where we were able to do it over a weekend as part of a normal release. Yet now we're able to take advantage of many of the capabilities that have been introduced. We updated from Cortina to Dobson in 2 days. We skipped Alysian but upgraded to and then took an update to Garish. We have already in our next release taken Hakuba. Through the updates, we get functionality delivered from Guidewire's roadmap. We don't have to invest in building that functionality ourselves. Those are such great update experiences, right? Okay, so do you hopefully believe it now? One of our customers estimates that their most recent update was 95% more efficient than what they had done previously around a minor update on-prem, and obviously with considerably more value. So updates really are your future. Now our continued progress is only meaningful when it enables and accelerates your success. So I am thrilled to announce the new Allstars program. To celebrate the amazing impact our customers are able to accomplish with Guidewire solutions, we have created a new program to recognize truly outstanding end users who are helping to deliver outsized results to their organizations. For our inaugural 2023 class, we are thrilled to recognize 42 Allstars from carriers around the world. Please join me in giving them a big round of applause. There is truly no better way to celebrate how all of you contribute to the power of community. So let's actually bring the lights up for a second and get a chance to see everyone. You are the power of community, and we cannot thank you enough. Please give yourselves a huge round of applause. We are grateful to all of you, but we're especially excited to be joined actually by about 20 of the 2023 Guidewire Allstars, and they're decked out in their exclusive jackets. So can I ask that they please stand up so that we can give you a round of applause? Here we go. Bravo. So if you happen to see them around over the next few days wearing their cool jackets, give them a high five, tell them congratulations. We're really excited to be joined by so many of them this year. Okay, and now thank you so much. I would love to invite Brian Desmond, our chief marketing officer, to the stage.

Hey Brian, you have an Allstar jacket. How did you get that? I like your boots. You have to earn the Allstar jacket. Did I earn it? Well, I guess this is the biggest Connections we've ever had, so I think it's safe to say you definitely earned the jacket. And the best. Thank you, thank you, thank you. How's everybody doing? As MC of Connections, I'd like to welcome all of you to this fantastic week, to this fantastic celebration of the power of community and service of a mission-critical and noble industry. The work that we all do together is immensely powerful, and every single Guidewire person is so, so proud to be here and to serve you all the way through the year. I'd like to welcome Melissa Fox from Great American, George Grieve from Castle Bay Consulting, Prat Paraban from Sampo International, all 3,000 of you that have come from all over the world to be here with us this week. It means so much to us. What about that keynote? Can I get a round of applause for that? Think about it. We, Guidewire, and this powerful community have set a new bar for P&C core platforms with Inbrook, with our marketplace, with Jutro, and in a Connections first, we're going to design with your help, and they're eating pizza already, a 24-hour community adventure demo that'll be shown live here on main stage tomorrow. How cool is that? I'd like to spend a couple of minutes thanking our sponsors. Thank you to our Diamond sponsors Capgemini, Cognizant, Deloitte, EY, and PwC for making Connections possible. Thank you to our Platinum sponsors Accenture, One Inc, and Smart Communications. Thank you to our Gold, Silver, Bronze, New to Connections, and our Vanguard partners. Thank you for being here with us this week. Yes. Thank you also a special thank you to AWS. Downstairs in the Ryman Hall, you'll get to meet all of our partners, and there's a special demo theater where you'll see the latest products from Guidewire and our amazing partners in the demo theater. Also, a huge shout out to PwC for being our co-host of the most amazing and best and fantastic customer party ever in the history of P&C tech tomorrow evening. It's going to be great, believe me. Now I'd also like you, when you meet all of our partners, be sure to get your badge scanned and be in with a chance to win the Partner Passport game. Win one of these amazing prizes which will be announced on Wednesday, and a free puppy. Who wants a puppy? You want a chance to win a puppy? It's up to you how to get it home. We're just getting started with Connections. We're going to have more than 100 breakout sessions, many of which are hosted by you, so please tune in for that. Also, four amazing speakers from your peers on the main stage, two fantastic guest speakers this year, Reese Witherspoon a little bit later this morning, and tomorrow Scott Hamilton in a must-see session. I also, on behalf of Guidewire, want to thank you so much for giving us the gift of your feedback, not only in our products but also on Connections. And we painstakingly go through all of your survey responses to try and make sure that this is a fantastic experience and one that keeps improving year over year. The way to do this is to go into the survey for each session on the Connections app, and to download the Connections app. The instructions are on the back of your badge. For every survey you submit, you're in with a chance to win a free pass to Connections next year. That's it for this session. Right now, please join me back here at 11:00 for a must-see session from Jane Pel from CNA. Thank you so much.