Interview questions for Guide wire
Guidewire Interview Questions: The most important part of preparing for an interview is practice. Knowing what job interview questions you might be asked is essential – that way, you can craft your answers well in advance, and feel confident in your responses when the pressure is on.
1.What is Guide wire?
The guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 450 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
A guidewire is a top-level application for Insurance Field; it is mainly utilized by insurers from all over the planet to reduce their IT operations and simplify the transactions. Guidewire Software aims for extreme scalability & versatility. Also, it offers insurance firms the ability to provide superior service to insurance holders and representatives and boost market reveal– while reducing operating prices. Guidewire insurance policy procedures are underwriting, billing, policy management, and also claims to control.
2. How many modules are in Guidewire?
These three primary programming items are ClaimCenter, PolicyCenter, and BillingCenter, each overhauling a significant part of a P&C protection transporter. There are various extra modules, just as an expanding number of value-added online administrations gave through Guidewire Live. Guidewire fosters the Gosu programming language; it delivered as open-source in 2010
3.What is meant by insurance coverage?
Insurance coverage signifies that when a singular takes a protection strategy, the guaranteed will be covered by the insurance agency for a particular sum for themselves or the things that he had taken the protection strategy, for which he would be paying expenses the insurance agency. The insurance agency will pay the protected if there should be harm or claims made by the safeguarded by their ‘insurance coverage.’
4. Here at Guidewire Software, we strive for continuous delivery and continuous deployment with our software.
In the enterprises that guidewire Software works in, updates to programming are essential to ending clients remaining at the cutting edge of their business. To guarantee that updates occur as fast and efficiently as could be expected, guidewire Software uses consistent conveyance and nonstop sending for their clients.
5. What is a policy center?
At its center, PolicyCenter outlets relevant information concerning a plan and takes care of a collection of processes that, if accomplished efficiently, lead to adjustments to the policy. Examples of policy modifications are developing a brand-new method, revitalizing a technique for a brand new term, or even canceling a policy. Because of each policy purchase (including a chauffeur to an automobile policy), the device determines the purchase price. If accomplished, PolicyCenter forwards this costs information to an invoicing unit. The prices details are additionally essential for mentioning to regulatory authorities.
6. Here at Guidewire Software, we strive for continuous delivery and continuous deployment with our software.
In the industries that guidewire Software works in, updates to software are vital to end users for them to stay at the forefront of their business. To ensure that updates happen as quick and smoothly as possible, guidewire Software utilizes continuous delivery and continuous deployment for their customers. For this question, talk about what you know about these processes as a software architect, why they are important and what experience you have with them.
7. What is a premium’?
It is the amount to be paid for a contract of insurance to the insurance company. It is the sum that a person pays monthly, quarterly or annually according to their plan, in return of the coverage he/she has taken from the insurance company
8. What is General Insurance policy? What does it cover?
General Insurance is basically an insurance policy that protects you from losses and damages other than covered by life insurance. For example it covers
• Personal property such as car or house
• Accident and health Insurance
• Liability Insurance – legal Liabilities
• Property against natural calamities like flood, fire, earthquake etc.
• Burglary and theft
• Coverage on transport vehicles carrying goods like Cargo Ship
• Coverage against machinery breakdown
9. What does ‘Indemnity’ term means?
Indemnity term in the insurance is used to cover the loss or damage claimed by another person. For example, the owner of the gym has indemnity insurance to compensate it customers in case of injury or accident and to avoid the financial loss due to a lawsuit
10. What is subrogation?
Subrogation is referred as the process of seeking reimbursement from the responsible party for a claim that they had already paid. For example, you have an accident where your car gets damaged, and you have car insurance, the insurance company will pay you the money. But the insurance company comes to know that the accident occur due to other party fault, now they will claim the money from the other party this is known as ‘subrogation’.
11. How do you configure the policy center?
Use Guidewire Studio as the coordinated improvement climate (IDE) to design PolicyCenter to meet your business needs.
See the accompanying advisers for getting familiar with designing, making rules, and utilizing Gosu:
• PolicyCenter Configuration Guide
• PolicyCenter Rules Guide
• Gosu Reference Guide
12. What is the installation process of the policy center?
• Microsoft Windows Vista SP2
• Microsoft Windows 7
• Microsoft Windows 8
• Microsoft Windows 10 *
• 32-bit Microsoft Internet Explorer 7+
• 32-bit Microsoft Internet Explorer 8+ *
• 32-bit Microsoft Internet Explorer 9+ *
• 32-bit Microsoft Internet Explorer 10+ *
• 32-bit Microsoft Internet Explorer 11+ *
13. What is a dynamic product model?
PolicyCenter is a dynamic item that could be determined, made, and also implemented within weeks. For every product, the item style specifies what could be given for that item. There would undoubtedly be information concerning accident insurance coverage and uninsured vehicle driver property damages coverage in an auto policy. Your business logic can easily be configured in Studio. If a service provider would like to broaden its item series and possess a traditional mainframe device, it can easily take many months or perhaps years to apply. To put it simply, Guidewire created PolicyCenter to offer brand-new items easily and swiftly carry them to market.