Guidewire InsuranceNow Named a Challenger in the 2021 Gartner® Magic Quadrant™ for P&C Core Platforms, North America, for Fifth Consecutive Year

Rhea-AI Summary

Guidewire Software, Inc. (NYSE: GWRE) has been recognized as a Challenger in the Gartner Magic Quadrant for P&C Core Platforms in North America for the fifth consecutive year. The report highlights the growing trend of cloud deployment in the insurance sector, with 97% of new deals in 2020 and early 2021 involving cloud solutions. Guidewire's InsuranceNow has shown strong momentum through consistent customer acquisition and product upgrades, including the launch of the Guidewire Marketplace ecosystem with 24 apps from various partners.

Positive

• Fifth consecutive year named a Challenger in the Gartner Magic Quadrant for P&C Core Platforms.
• Strong momentum in customer acquisition and upgrades in 2020-2021.
• Launch of the Guidewire Marketplace ecosystem with 24 available apps.

Negative

• None.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced InsuranceNow has been named as a Challenger in the Gartner, Inc. “Magic Quadrant for P&C Core Platforms, North America¹” for the fifth consecutive year. The report can be viewed here.

Guidewire InsuranceNow Named a Challenger in the 2021 Gartner® Magic Quadrant™ for P&C Core Platforms, North America, for Fifth Consecutive Year (Graphic: Gartner)

“Cloud deployment has become ubiquitous in the North America market,” wrote Gartner. “Ultimately, 97 percent of the deals where a vendor secured new wins in 2020 and 1Q21 were for cloud deployment.”

“We are honored that Gartner has recognized InsuranceNow for the fifth consecutive year and are thrilled with our significant product and market momentum over the past year,” said Zachary Gustafson, General Manager, Claims & InsuranceNow, Guidewire. “We will continue our focus on delivering an affordable solution that enables insurers to implement confidently, innovate quickly, and grow efficiently, while benefitting from the strength of Guidewire’s unmatched research and development (R&D) investment, implementation experience, and operations expertise.”

Guidewire’s momentum with InsuranceNow during 2020−2021 includes:

• A steady cadence of customer acquisition, new production go-lives, and customer upgrades.
• Regular delivery of new product capabilities across Aspen (spring 2020), Banff (fall 2020), and Cortina (so far in spring 2021) releases, including a consumer sales portal, embedded business intelligence dashboards, integrated analytics, and API modernization.
• The launch of https://developer.guidewire.com/ and the Guidewire Developer engagement program.
• Initial availability of the Guidewire Marketplace ecosystem for InsuranceNow, which now includes 24 InsuranceNow apps from seven technology partners.

InsuranceNow is purpose-built for U.S. regional and super-regional insurers that focus on personal, main-street commercial, and straightforward specialty lines and that may be constrained by limited IT resources. InsuranceNow provides insurers the freedom to focus on innovation and service with a ready-to-go core system that is complete, not complex. Its all-in-one design makes possible rapid implementations and regular upgrades, keeping insurers’ technology current and their business nimble.

Guidewire was also recognized as a Leader for InsuranceSuite based on its ability to execute and completeness of vision .

¹ Gartner Magic Quadrant for P&C Core Platforms, North America, Sham Gill, James Ingham, September 14, 2021

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Guidewire Software

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 400 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.

For more information, please visit www.guidewire.com and follow us on Twitter:
@Guidewire_PandC.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005179/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.464.1177

mcobb@guidewire.com

Source: Guidewire Software, Inc.

FAQ

What recognition did Guidewire Software receive in 2021?

Guidewire Software was named a Challenger in the Gartner Magic Quadrant for P&C Core Platforms in North America for the fifth consecutive year.

What factors contributed to Guidewire's performance in 2020-2021?

Guidewire's performance was supported by a steady acquisition of customers and regular delivery of product upgrades.

What is the significance of cloud deployment in Guidewire's business?

Cloud deployment has become essential, with 97% of new deals in 2020 and Q1 2021 being cloud-based, indicating a strong market trend.

How many applications does the Guidewire Marketplace currently feature?

The Guidewire Marketplace features 24 applications from seven technology partners.