Guidewire Hakuba Release Drives Profitability with New Autopilot Workflow Service* and Expanded Commercial Lines Offerings

Rhea-AI Summary

GWRE: Guidewire Announces Hakuba Cloud Release to Drive Profitability for P&C Insurers. New capabilities include Autopilot Workflow Service, Integration Data Manager, Rating App, London Market underwriting improvements, and Cyence Model 6.

Positive

• The new cloud release is expected to enhance profitability for P&C insurers, potentially leading to increased market share and revenue growth.

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• None.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) announces Hakuba, its latest cloud release, which drives profitability for P&C insurers.** New capabilities include the Autopilot Workflow Service* to orchestrate process automation across the P&C insurance lifecycle and the Integration Data Manager, a convenient way to store and govern third-party data for use with InsuranceSuite. Commercial lines offerings are expanded with a new Rating App* for agile rate development, London Market underwriting improvements with detailed financials, and Cyence Model 6 to keep up with the constantly evolving cyber threat landscape.

For more details about these and all the other new capabilities Hakuba delivers, visit www.guidewire.com/hakuba and read the Hakuba overview blog.

*Indicates product feature is available for Early Access customers only.
**Hakuba release is generally available.

About Guidewire

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, 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.

For more information, please visit www.guidewire.com and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices/. All products mentioned in this announcement are Guidewire products. Not all products are available in every geography or to self-managed customers. Any unreleased services or features referenced in this, or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Guidewire applications should make their purchase decisions based upon features that are currently available.

Cautionary Language Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the general availability of features, programs, services, and tools related to Hakuba mentioned in this press release (including, without limitation, Integration Data Manager and Cyence Model 6, as well as early access features, programs, services and tools related to Hakuba such as Autopilot Workflow Service and Rating App). These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Guidewire’s control. Guidewire’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Guidewire’s most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission as well as other documents that may be filed by Guidewire from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: quarterly and annual operating results may fluctuate more than expected; seasonal and other variations related to our customer agreements and related revenue recognition may cause significant fluctuations in our results of operations, ARR and cash flows; our reliance on sales to and renewals from a relatively small number of large customers for a substantial portion of our revenue; our ability to successfully manage any changes to our business model, including the transition of our products to cloud offerings and the costs related to cloud operations and security; the timing, success, and number of professional services engagements and the billing rates and utilization of our professional services employees and contractors; recent global events (including, without limitation, global pandemics, the ongoing conflict between Russia and Ukraine, escalating tensions in the South China Sea, inflation higher than we have seen in decades, bank failures and associated financial instability and crises, and supply chain issues) and their impact on our employees and our business and the businesses of our customers, system integrator (“SI”) partners, and vendors; data security breaches of our cloud-based services or products or unauthorized access to our customers’ data, particularly in connection with our transition to a hybrid in-person and remote workforce; our competitive environment and changes thereto; our services revenue produces lower gross margins than our license, subscription and support revenue; our product development and sales cycles are lengthy and may be affected by factors outside of our control; the impact of new regulations and laws, including tax laws and accounting standards; assertions by third parties that we violate their intellectual property rights; weakened global economic conditions may adversely affect the P&C insurance industry, including the rate of information technology spending; general political or destabilizing events, including war, conflict or acts of terrorism; our ability to sell our products is highly dependent on the quality of our professional services and SI partners; the risk of losing key employees; the challenges of international operations, including changes in foreign exchange rates; and other risks and uncertainties. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Guidewire’s views as of the date of this press release. Guidewire anticipates that subsequent events and developments will cause its views to change. Guidewire undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Guidewire’s views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230808080171/en/

Melissa Cobb, Senior Public Relations Manager

Guidewire Software

+1 650-464-1177

mcobb@guidewire.com

Source: Guidewire

FAQ

What is the latest cloud release announced by Guidewire (GWRE)?

Guidewire has announced Hakuba, its latest cloud release, which aims to drive profitability for P&C insurers.

What are the new capabilities included in the release?

The new capabilities include Autopilot Workflow Service, Integration Data Manager, Rating App, London Market underwriting improvements, and Cyence Model 6.

How can the new cloud release benefit P&C insurers?

The new cloud release is expected to enhance profitability for P&C insurers, potentially leading to increased market share and revenue growth.