The use of interventional radiology procedures in image-guided diagnosis and treatment of diseases has accelerated in the past couple of years. Interventional radiology is absolutely important for hepatobiliary, gastrointestinal, and pulmonary and genitourinary complications. The benefits of such minimally invasive methods in the form of shorter hospital delays, minimum blood loss, and a smooth recovery process have made interventional radiology mechanisms more common today.
The growing adoption of interventional radiology techniques has intensified the need for guidewires and is projected to continuously be used in the future. The global market for guidewires is anticipated to register a positive growth outlook, skyrocketing at a CAGR of 6.1% during the forecast timeframe of 2020-2025. The market is expected to hit a value pool of US$ 2.6 Bn by the end of 2025.
Due to the COVID-19 pandemic, it is projected that the production of guidewires exhibits a severe impact in the forecast period. Implementing strict countermeasures is necessary for key companies to limit person-to-person contact. Investing a large portion of its revenue in finding test mechanisms, drug treatments, and focusing on the overwhelming change schedules is another concept for core industries.
About Guidewire Software, Inc
Guidewire Software, Inc., usually Guidewire is a leading American-based software company that specializes in the insurance niche. The company is also recognized as a recurring revenue because it sells term licenses with software as a service on a subscription revenue basis.
Its three popular and commonly used products are PolicyCenter, ClaimCenter, and BillingCenter. It offers the service of the core back end software for property and casualty insurance carriers in the US and all across the globe.
Its Insurance platform comprises three elements that are core transaction processing, digital engagement, and data management and analytics. The company’s core insurance operations involve claim management and billing and underwriting and policy administration. It helps to check the data insights for making the best business decisions and support the digital sales, service, and claim experiences for agents, policyholders, and several key stakeholders.
The worldwide insurance carriers execute Guidewire to acquire some major benefits. Some of the noteworthy names that use its services are Hartford Steam Boiler, Canadian Automobile Association Insurance Company (Ontario), Kentucky Farm Bureau Mutual Insurance Company, Insurance Corporation of British Columbia, The Cincinnati Insurance Companies, and United Automobile Insurance Company (UAIC).
Understand the Clear Objectives of Guidewire
Allow business agility.
Improve responsiveness, operational performance, and decision making.
Improve retention and empower customers.
Develop worldwide-accessible business models.
Doing innovative things with digital channels.
Common Challenges Faced by Insurance Sectors in the age of Digital Transformation
Tough & highly-advanced competition.
Changing customer requirements and preferences.
Growing digital confluence.
Compliance with federal regulations.
Guidewire Products Become #1 Choice - Know Why?
According to the Stats of enlyft, 62% of Guidewire customers belong from the United States, 6% reside in Canada, and 5% of people live in the United Kingdom. Guidewire products are designed and developed with some clear factors such as:
Before developing any software suite, it is important to meet the flexibility needs. It should be agile oriented to follow the latest market’s trends. Basically, the flexibility is achieved by region, by functional area, and by business.
Performance and Reliability
While development, the key factors that are extremely important are performance and reliability. Guidewire platform is developed based on modern architecture to satisfy the unique requirements of the property and casualty insurance industry.
User experience drives the success of every development. It is crucial to give attention to the design phase of any product because it ensures that it will meet the necessity of targeted audiences and help businesses generate more ROI.
Surprisingly, the benefits of Guidewire products are interesting, but we can’t skip the challenges that are introduced by Guidewire too while implementing them.
Consistent upgrades in user requirements.
Delays occur in the test execution due to the absence of code development.
Due to no functional and non-functional requirements documentation.
Insufficient processes follow for the QA and there are no proper guidelines in the hand for particular industry verticals.
Less knowledge obtained about QA and the critical factors of the business.
If there are too many challenges found in the Guidewire suite, there is an urge to resolve the issues with the experienced testing and implementation partner, mainly who has a flair for testing and knows how to give cost benefits to insurers while merging a single suite of applications into the Guidewire’s technology platform.
As testing becomes a major challenge for the implementation and integration of the suite within the functional spheres. However, manual testing is time-consuming and can give a monotonous feel to the tester. In this case, prioritizing test automation and knowing its benefits is a must.
Test automation comes with the reusability feature and helps increase the profitability across the product lifecycle. With the best test automation framework, one can make tests maintainable, upgrade the test directory with every new test and bug discovery. It can help you minimize the cost, which may not be possible with manual testing.
Consistency & Efficiency
Test automation provides the significant benefits of consistency and efficiency in testing. As we discussed manual testing consumes a lot of time, automation can make the Guidewire testing process much faster, repetitive, and help generate more ROI.
Automated testing software is designed to provide flexibility for testing tasks. It allows us to customize the features and helps us focus on the latest security protocols.
Stability is another reason to use a test automation framework for completing all your testing needs. It gives you pre-recorded instructions to reduce the errors from the software. Further, regression testing is performed to check the existing functionalities and to confirm whether the application/software/product is ideal for the new development, new versions, or not.
If you are the person who invests a hefty amount of money on the Guidewire Insurance product, but unable to achieve the ROI that you expect before making the huge investment, you need to consult with CMMI LEVEL 5 company, named BugRaptors that is the provider of Guidewire testing services and has a team of diligent testers to offer you robust testing solutions and the better ROI in the insurance sector.
Many insurance companies choose us for the testing of the Guidewire suite because we have pre-built test scripts both manual and automated for the numerous modules of Guidewire products from Billing Center, Policy Center, Mobile Portals, Claim Center to Writing Management. We also ensure to improve the test automation coverage, reduce post-production defects and your test cycle duration.
Contact us and we will get back to you with our effective test plans for the Guidewire testing and implementation.