Season 7 – Episode 9 Shawn Antao – EY

In this episode, the hosts interview Sean Antao, a partner at EY and leader of the Insurance Technology Consulting arm. They discuss various topics related to Guidewire implementations and broker connectivity. The conversation covers the dominance of Guidewire in the Canadian market, factors affecting the cost of implementations, and the challenges in creating broker connectivity. They also touch on the standardization of API connections, the role of system integrators like EY, and the importance of consistency in connectivity.

Overall, the episode provides insights into the world of Guidewire and its impact on the insurance industry. In this conversation, the participants discuss various topics related to insurance technology, including the costs from the BMS, challenges for BMS vendors, the importance of consistency in APIs, implementing Guidewire Cloud, the impact of customizations, the importance of broker input, and the future of insurance technology. They also touch on AI and its potential for straight through processing and the development of AI chatbots and virtual assistants.

Takeaways

  • Guidewire is the dominant admin system in the Canadian insurance market, with a market share of 85-90% of direct written premium for P&C insurers.
  • The cost of Guidewire implementations varies depending on the size and scale of the organization, with larger carriers typically investing more due to the complexity and scalability of their systems.
  • Creating broker connectivity in Guidewire implementations can be challenging, but standardization of APIs and integration frameworks can help streamline the process.
  • The move to Guidewire Cloud and the adoption of an integration gateway allows for more efficient and standardized connectivity across carriers.
  • Collaboration and sharing of APIs and integration assets can help accelerate the development of broker connectivity and improve industry-wide standards.
  • Maintaining multiple versions of APIs is a challenge for BMS vendors, and achieving consistency between different carriers is crucial.