GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Guidewire Software, a leading platform for P&C insurers, announced its participation in two investor conferences. Management will present at the D.A. Davidson Virtual 20th Annual Software and Internet Conference on September 9, 2021, at 11:30 a.m. ET, and at Citi's Global Technology Virtual Conference on September 13, 2021, at 3:30 p.m. ET. Live and replay webcasts will be available on the company's investor relations website. With over 400 insurers as clients, Guidewire continues to enhance its platform through innovation and collaboration.

Guidewire Software (GWRE) reported its fiscal Q4 and year-end results for 2021, highlighting a total revenue of $743.3 million, up less than 1% year-over-year. Subscription revenue rose 24% to $252.4 million, while license and services revenue fell 8% and 10%, respectively. The company experienced a GAAP net loss of $66.5 million, compared to $27.2 million in FY 2020. Annual recurring revenue (ARR) grew by 13% to $582 million. Looking ahead, GWRE expects FY 2022 ARR between $657 million and $667 million.

S&P Global Ratings has enhanced its partnership with Guidewire Software to integrate cyber risk insights into credit evaluation processes. The collaboration aims to address escalating cyber threats that have become a critical concern for businesses globally, especially following increased digitalization due to the pandemic. S&P Global noted a significant rise in credit-relevant cyber events over the past six months. This partnership will leverage Guidewire Cyence™ Risk Analytics to quantify the financial impact of cyber risks, supporting product development and enhancing transparency in risk reporting.

Guidewire Software has acquired HazardHub, an insurtech firm specializing in property risk insights for the P&C insurance industry. HazardHub serves over 110 organizations, providing vital risk data that aids insurers in underwriting and managing risks effectively. The acquisition integrates HazardHub's risk data service into Guidewire's platform, enhancing decision-making capabilities for underwriters and claims adjusters. The collaboration aims to leverage HazardHub's GIS expertise, promising improved workflows and expanded market reach for both companies.

Guidewire Software (GWRE) will release its financial results for the fiscal quarter and year ending July 31, 2021, on September 2, 2021, after market close. The management will conduct a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. The call can be accessed via phone or webcast, with a recording available later. As a leader in providing cloud services for P&C insurers, Guidewire emphasizes its strong implementation track record and extensive development resources.

ServicePower and Guidewire Software have announced the launch of ServicePower's new Ready for Guidewire validated accelerator, now available to ClaimCenter users on the Guidewire Marketplace. This solution integrates artificial intelligence to optimize service schedules for property and casualty insurers, improving claims handling efficiency. The integration allows insurers to quickly dispatch appropriate resources, reducing cycle times and costs while enhancing policyholder satisfaction. ServicePower aims to boost productivity and streamline operations for insurers addressing increased claim volumes.

Guidewire Software has welcomed Genpact as a new Solution partner in its PartnerConnect program. This collaboration offers insurers access to Genpact’s Ready for Guidewire validated add-on, which enhances the ClaimCenter platform for claims processing. The add-on facilitates seamless claims management, enabling digital inspections and improved customer satisfaction through faster claims cycle times. The partnership aims to transform and streamline the entire claims lifecycle, allowing insurers to deliver superior service to policyholders.

CCG IQ and Guidewire Software, Inc. (NYSE: GWRE) have launched a new add-on for ClaimCenter users called the CCG IQ Add-on for Specialty Claims Inspections. This tool facilitates quicker, data-driven assessments for HVAC and electrically powered equipment claims, enabling insurers to settle claims more accurately. The add-on allows users to submit claims directly, pre-fill data from claim files, and access detailed reports securely. This partnership aims to streamline the claims process and improve efficiency for shared clients.

Gore Mutual has launched Guidewire InsuranceSuite in Guidewire Cloud, marking a major step in its transformation strategy aimed at becoming a national-scale insurer. This deployment integrates policy, billing, and claims for the first time in Canada, supported by Deloitte. The initiative enhances operational efficiency and broker workflows while introducing modern technology and improved customer experiences. Gore Mutual aims to invest over $20 million in talent and technology as part of its 10-year 'Next Horizon' strategy to elevate its market position.