GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Instabase has joined Guidewire’s Insurtech Vanguards program, aimed at helping insurers utilize cutting-edge insurtech solutions. This partnership will enable Instabase to leverage Guidewire’s P&C customer network, enhancing its document-understanding capabilities powered by deep learning. The collaboration focuses on automating the transformation of unstructured data into actionable insights, streamlining processes such as submissions and claims. Instabase is already working with major financial institutions, including NatWest and AXA, to optimize their business operations through automation.

Guidewire (NYSE: GWRE) announced that Ontario’s Workplace Safety and Insurance Board (WSIB) has chosen Guidewire Cloud to enhance its business agility and deliver additional value to customers. The migration will simplify WSIB's IT operations and improve its underwriting, policy administration, and billing management. WSIB plans to transfer system maintenance responsibilities to Guidewire. The cloud solution also enhances data analytics and integration capabilities, allowing for better collaboration with insurtechs within the Guidewire PartnerConnect ecosystem.

Golden Bear Insurance Company selected Guidewire ClaimCenter on Guidewire Cloud for improved claims management and IT operations. This strategic move aims to enhance data access, adapt to market demands, and provide better service to policyholders across all business lines. Implementation will be led by Blackcomb Consultants.

The partnership includes access to advanced analytics tools for better decision-making and performance benchmarking, positioning Golden Bear to meet evolving customer needs effectively.

Franklin Mutual Insurance, a New Jersey-based insurer, has selected Guidewire Cloud to enhance its core operations and adapt to market demands. This move, supported by previous self-managed installations since 2020, aims to deliver cost savings and improve technology use. The transition to the cloud will reduce system maintenance time, allowing focus on better user experiences for agents, employees, and policyholders. Franklin Mutual's shift underscores their commitment to operational efficiency and business growth.

Guidewire (NYSE: GWRE) reported its Q3 fiscal 2022 results, achieving $197.4 million in total revenue, a 20% increase year-over-year. Key growth came from a 34% rise in subscription and support revenue, totaling $86.9 million. Annual recurring revenue (ARR) reached $637 million, up from $582 million the previous year. However, the company faced a GAAP net loss of $57.4 million, compared to $36.6 million in the same quarter last year. For Q4 2022, Guidewire anticipates revenue between $226 million and $232 million.

Guidewire (NYSE: GWRE) announced its participation in the 42nd Annual William Blair Growth Stock Conference on June 9, 2022, at 2:40 p.m. CT in Chicago, Illinois. A live webcast and replay will be available on their investor relations website at https://ir.guidewire.com.

Guidewire is a leading platform for property and casualty insurers, boasting over 450 clients and a robust R&D team, facilitating more than 1,000 successful project implementations.

Clearspeed has joined the Guidewire Insurtech Vanguards program, enhancing its collaboration with insurers to introduce AI-driven voice analytics for fraud detection. The company boasts a fraud detection accuracy exceeding 97%, enabling quick decisions on claims processing. This partnership positions Clearspeed's technology to optimize claims service for Guidewire's 450+ insurance customers, helping maintain low overhead while improving combined ratios. The program connects emerging tech solutions with property and casualty (P&C) industry players, fostering innovation.

Guidewire (NYSE: GWRE) will announce its fiscal Q3 2022 financial results on June 7, 2022, after market close. A conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. The call can be accessed domestically at (877) 704-4453 and internationally at (201) 389-0920. A replay of the call will be available with specific passcodes. The webcast of the call will also be archived for three months. Guidewire serves over 450 insurers, emphasizing its strong market position and extensive implementation experience.