GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Guidewire (NYSE: GWRE) has released critical hurricane risk data and maps for the United States through its HazardHub service. The data covers national, state, and local levels, utilizing over 1,000 data points and risk scores for climate and extreme weather events. Key findings include:

1. Top 10 states for hurricane risk, with Florida, Louisiana, and South Carolina leading.
2. Percentage of housing units at risk of storm surge flooding in high-risk states.
3. Florida has nearly 1 in 3 homes (3 million) susceptible to storm surge flooding.
4. Louisiana has 52% of homes (910,000) at risk of hurricane storm surge flooding.

The HazardHub Hurricane Risk Scores and other data are available to insurers through Guidewire apps and the HazardHub API. Consumers can check their home's risks at freehomerisk.com.

Arch Insurance North America, a division of Arch Capital Group , has chosen Guidewire ClaimCenter as its new claims management system. This selection is part of Arch Insurance's technology modernization strategy aimed at enhancing its ability to meet customer needs. Deloitte Consulting LLP, a Guidewire PartnerConnect Consulting Global Premier member, will lead the implementation project.

Additionally, Arch Insurance International will implement ClaimCenter on Guidewire Cloud for the London Market. The company has also selected Guidewire Canvas, Explore, and Predict to integrate insights directly into its claims workflows. This expansion of Arch Insurance's relationship with Guidewire (NYSE: GWRE) signifies a significant step in modernizing their claims IT operations.

Guidewire (NYSE: GWRE) reported strong financial results for Q4 and fiscal year 2024. Key highlights include:

- Total revenue for FY2024 reached $980.5 million, up 8% year-over-year

- Annual Recurring Revenue (ARR) grew to $872 million, a 14% increase on a constant currency basis

- Non-GAAP income from operations was $99.5 million for FY2024, compared to $11.7 million in FY2023

- Cash flow from operations was $195.7 million for FY2024

The company issued a positive outlook for FY2025, projecting ARR between $995 million and $1,005 million, and total revenue between $1,135 million and $1,149 million.

Guidewire (NYSE: GWRE) has announced its participation in the Goldman Sachs Communacopia + Technology Conference. The company's management is set to present on Monday, September 9, 2024, at 1:45 p.m. ET (10:45 a.m. PT) in New York.

Investors and interested parties can access a live webcast of the presentation through Guidewire's investor relations website. For those unable to attend or watch live, a replay of the presentation will also be made available on the same platform under the "Webcasts and Presentations" section at https://ir.guidewire.com/.

This event provides an opportunity for Guidewire to showcase its latest developments and strategies to a broader audience of investors and industry professionals.

Guidewire (NYSE: GWRE) has announced the release date for its fourth quarter and fiscal year 2024 financial results. The company will disclose these results after market close on Thursday, September 5, 2024. Following the release, management will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company's performance.

Investors and analysts can join the live call using the provided domestic and international phone numbers. A recorded version of the webcast will be available two hours after the call on Guidewire's investor relations website. The webcast will remain archived on the site for three months, allowing stakeholders to review the information at their convenience.

Guidewire (NYSE: GWRE) has released critical wildfire risk data and maps through its HazardHub service. The analysis covers national, state, and local levels, utilizing over 1,000 data points and risk scores for climate and extreme weather events. Key findings include:

1. Top states for wildfire risk: Nevada, Oregon, California, Idaho, Wyoming
2. States with most homes at high risk: California (1.03 million), Oregon (100k), Colorado (64.5k)
3. Wildfire risk mitigation can reduce damage risk by up to 70%
4. In California, 98% of wildfire property damage occurs in 10% of homes rated 'F' for risk
5. Texas experienced 7,530 wildfires in 2023, with an average of 217.3 significant wildfires annually over the past decade

The data is available to insurers through Guidewire's apps and API, while consumers can check their home's risk at freehomerisk.com.

Guidewire (NYSE: GWRE) has launched the 'ElevatEd by Guidewire' scholarship program in India, aimed at empowering female engineering students from underprivileged backgrounds. The initiative, part of Guidewire Gives Back, offers financial support, mentorship, and networking opportunities to talented students based on academic performance and family income.

Mohammed Anzy S, Guidewire India's Vice President of Engineering & Managing Director, emphasized the company's commitment to education and women's empowerment. The program, implemented by the Foundation for Excellence, is accepting applications for the 2024-25 academic year until October 31, 2024.

Guidewire (NYSE: GWRE) has announced its latest cloud update, Kufri, which expands HazardHub to 19 additional countries. HazardHub, the most comprehensive property risk data and peril risk scoring tool in the P&C insurance industry, now offers four risk peril scores (flood, wildfire, wind, and hail) and 65 new data elements for more granular property risk assessments in Europe, Australia, New Zealand, and South Africa.

The Kufri release also includes enhancements to underwriting and billing processes, facilitates cloud migrations, and streamlines developer experiences. Key improvements include more agile submission intake and pricing processes for commercial lines underwriters, streamlined non-bureau business billing for London Market insurers, and new Jutro templates for faster delivery of digital experiences.

Guidewire (NYSE: GWRE) has announced that Ogon Consulting has joined its PartnerConnect program as a Consulting Alliance partner at the Select level. Ogon Consulting specializes in insurance technology and digital transformation, focusing on Guidewire InsuranceNow implementations. With over 50 consultants experienced in InsuranceNow, Ogon offers services including core system implementation, maintenance, client support, third-party integrations, data migration, and test automation.

This partnership aims to enhance collaboration and deliver impactful solutions for shared customers in the rapidly evolving insurance landscape. Ogon's expertise in P&C insurance, business strategy, and technology solutions is expected to contribute to faster market entry for clients.