GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Guidewire (NYSE: GWRE) announced that nine PartnerConnect Consulting partners achieved 14 specializations in Q4 of fiscal year 2022. These partners include Alchemy, CGI, Cognizant, NXT, PwC, Stratus, TCS, ValueMomentum, and Zensar, showcasing their expertise in specific Guidewire products. The specializations provide insurers clarity on partner capabilities and enhance promotional opportunities. With a total of 151 specializations achieved by Guidewire partners, this initiative continues to streamline consulting services in the insurance sector.

Guidewire (NYSE: GWRE) has announced a share repurchase program, authorizing the purchase of up to $400 million of its outstanding Common Stock. The buyback will be executed based on market conditions and company needs. Guidewire plans to fund these repurchases using existing cash, which stood at $1.2 billion as of July 31, 2022. The program is flexible, allowing for modification or termination by the board at any time. This initiative reflects the company's strategic focus on enhancing shareholder value.

Guidewire (NYSE: GWRE) has launched the Ready for Guidewire validated accelerator for ClaimCenter developed by Insight Service Group (ISG), now available in the Guidewire Marketplace. This accelerator helps insurers overcome challenges highlighted in J.D. Power's 2022 US Property Claims Satisfaction Study by optimizing claim management processes. ISG's solutions streamline referrals for investigation, medical exams, and record retrieval directly from ClaimCenter, improving efficiency and reducing claim handling times.

Guidewire (NYSE: GWRE) has partnered with At-Bay to enhance its cyber insurance offerings through the integration of Guidewire’s Cyence product. This collaboration aims to improve At-Bay’s management of aggregation risk within its cyber portfolio. At-Bay emphasizes the importance of monitoring and managing cyber risk aggregation to ensure robust performance as it expands. Guidewire’s advanced risk models will aid At-Bay in optimizing its underwriting and risk management decisions, enhancing clarity and confidence for businesses facing digital threats.

Guidewire (NYSE: GWRE) announces a partnership with Ravin AI, which joins the Guidewire PartnerConnect as a Solution partner. Ravin's automated vehicle inspection technology leverages computer vision and deep learning to enhance the vehicle inspection process, allowing insurance customers to accurately capture vehicle conditions. The integration with Guidewire's ClaimCenter is set to expedite claims processing. Ravin AI has raised $30M and offers solutions without requiring dedicated hardware, making them accessible for diverse customers.

Guidewire (NYSE: GWRE) announced the appointment of David S. Bauer to its Board of Directors, effective October 1, 2022. This decision comes as current director Andrew Brown will not seek re-election. Bauer brings extensive experience in software development and security from his previous roles, including CISO at Morgan Stanley. His expertise is expected to enhance Guidewire's cloud platform security. Additionally, Michael Keller will succeed Brown as Chairman of the Compensation Committee. The company continues to support over 520 insurers globally.

Guidewire (NYSE: GWRE) and Earnix have initiated a partnership aimed at enhancing the adoption of their combined insurance offerings. As a new Solution partner in the Guidewire PartnerConnect ecosystem, Earnix focuses on real-time AI-driven solutions for pricing and underwriting. The collaboration seeks to streamline product deployment and reduce implementation costs, thereby increasing value for insurers. The API-first approach of Guidewire Cloud further facilitates integration with various systems, promoting data-driven intelligence in their core platform.

Kanverse.ai has joined Guidewire’s Insurtech Vanguards Program, highlighting its innovative hyperautomation platform tailored for the Property and Casualty (P&C) insurance sector. This initiative by Guidewire (NYSE: GWRE) connects insurers with cutting-edge insurtech firms to enhance their technology access. Kanverse's offerings promise optimized workflows for insurance forms processing, boasting a 99.5% accuracy rate in automation. The partnership aims to streamline the submission process through advanced AI and hyperautomation, allowing insurers to efficiently manage ACORD and supplemental forms.

Guidewire (NYSE: GWRE) has been selected by Cincinnati Financial Corporation to implement Guidewire ClaimCenter on Guidewire Cloud for efficient claims management. This system aims to streamline IT operations and enhance adaptability to market changes. Additionally, Cincinnati will utilize Guidewire Compare and Predict for performance benchmarking. Cincinnati emphasizes their commitment to outstanding claims service through robust technology. Guidewire looks forward to supporting Cincinnati in maintaining market leadership.