GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Definity Financial Corporation and Guidewire have successfully transitioned the Economical digital broker platform, Vyne, and the direct platform, Sonnet, to cloud-based technologies. This move positions Definity as the first Canadian P&C insurer to utilize Guidewire Cloud Platform, aimed at enhancing scalability, service quality, and innovation. The collaboration, also involving Deloitte, leverages Amazon Web Services to improve security and operational efficiency. Definity aims for organic and inorganic growth and aspires to be among Canada's top five P&C insurers.

Guidewire (NYSE: GWRE) reported its financial results for Q4 and FY 2022, achieving total revenue of $244.6 million for Q4, a 7% increase year-over-year, with notable growth in subscription revenue up 34%. However, the company faced a GAAP net loss of $31.0 million for Q4. Full-year revenue was $812.6 million, up 9%, but the annual GAAP net loss reached $180.4 million. For FY 2023, Guidewire projects ARR between $745 million and $760 million, and total revenue between $885 million and $895 million.

Guidewire (NYSE: GWRE) will announce its financial results for the fiscal quarter and year ended July 31, 2022, after market close on September 6, 2022. The management will hold a conference call at 2:00 p.m. PT to discuss these results. Investors can access a recorded version of the webcast two hours post-call and it will remain available for three months. Guidewire is recognized for its robust platform supporting over 450 insurers globally, emphasizing digital innovation and efficient growth.

Guidewire (GWRE) and CCC Intelligent Solutions (CCCS) announced the launch of CCC Safekeep, a new accelerator for Guidewire ClaimCenter. This AI-backed platform enhances subrogation management by automating data handling and streamlining workflows for insurance claims. The integration allows for faster identification and prioritization of recoverable claims, ultimately improving efficiency and accuracy. The CCC Safekeep platform will support various insurance lines, including auto and property.

Guidewire (NYSE: GWRE) has welcomed Netcompany A/S as a Select partner in its PartnerConnect program, enhancing its consulting alliance in the EMEA region. With over 20 years of experience, Netcompany focuses on digital transformation for P&C insurers, deploying Guidewire products like PolicyCenter and ClaimCenter. The collaboration aims to streamline operations and improve customer experience. Netcompany's team of 200 experts will drive efficiency for insurers, emphasizing quality and agile solutions, in line with Guidewire's commitment to innovation and excellence in the insurance sector.

Guidewire (NYSE: GWRE) has welcomed Sopra Steria as a Select-level consulting partner in the EMEA region within its PartnerConnect program. This collaboration aims to enhance operational excellence for property and casualty insurers through digital transformation. With nearly 30 locations across Europe, the Middle East, Africa, and Asia, Sopra Steria focuses on improving customer experiences, agility, and business performance using Guidewire’s suite of products and solutions. The partnership intends to streamline processes and accelerate the digital journey for insurers.

Guidewire (NYSE: GWRE) announced its strategic implementation at Topdanmark, Denmark's second largest insurance firm, aiming to reduce IT complexity and enhance customer engagement across channels. The deployment, part of a broader digital transformation, supports Topdanmark's Agriculture division and integrates with Salesforce (NEO: CRM). The initiative has received positive internal feedback, highlighting ease of use and functionality. Further Guidewire implementations are planned for Topdanmark's Private and Commercial divisions in 2022.

Guidewire Software, Inc. (NYSE: GWRE) announced the promotion of eight solution partners within its PartnerConnect Solution Alliance Program, recognizing their contributions to mutual customers. Notably, partners such as Hi Marley and One Inc reached the Premier tier, while Shift Technology was promoted to the Advantage tier. The PartnerConnect ecosystem is the largest in the P&C insurance sector, with over 150 partners and 170 integrations available in the Guidewire Marketplace, enhancing innovation and growth for property and casualty insurers.