GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Guidewire Software (NYSE: GWRE) has announced that President and COO, Priscilla Hung, will present at the BofA Securities Virtual InsurTech 2021 Conference. The presentation is scheduled for June 30, 2021, at 11:40 a.m. ET. A live webcast and replay will be accessible on the company's investor relations site. Guidewire provides a platform for P&C insurers to enhance engagement and innovation, backed by over 1,000 successful projects and a significant R&D team.

Mountain West Farm Bureau Mutual Insurance has chosen Guidewire Software (GWRE) to implement InsuranceSuite in Guidewire Cloud, aimed at optimizing core operations and enhancing IT efficiency. This strategic move is set to allow Mountain West to adapt to market shifts more swiftly and improve value for policyholders. Additionally, they will utilize SmartCOMM for optimized customer communications management. The collaboration highlights Guidewire's commitment to the P&C insurance sector and its robust cloud solutions.

Guidewire Software, Inc. (NYSE:GWRE) and Cloverleaf Analytics have announced the launch of Cloverleaf's new Ready for Guidewire validated accelerator for InsuranceNow users. This solution provides real-time analytics and dynamic visualizations tailored for the property and casualty insurance industry. Features include customizable dashboards and reporting capabilities using over 900 key performance indicators, enabling insurers to enhance profitability and minimize risk. The integration aims to streamline data management and improve underwriting and claims processing.

Guidewire Software (GWRE) announced Cognizant as the first partner to achieve the Guidewire InsuranceNow specialization. This award recognizes Cognizant's exemplary skills and commitment in supporting InsuranceNow deployments, enabling enhanced service for their insurance clients. Cognizant aims to provide mid-tier insurers with digital platforms that improve speed, operational efficiency, and innovation. The InsuranceNow platform is designed for regional insurers, allowing for rapid implementations and regular upgrades.

ConTe.it, part of Admiral Group, has upgraded its claims management capabilities by implementing Guidewire's core applications, including ClaimCenter and DataHub, to streamline operations. The deployment took just seven months and will enhance claims management, real-time service provider integration, and operational reporting. This strategic move seeks to improve customer service, reduce risks, and prepare for increased volumes of motor third-party liability claims. ConTe.it has over 800,000 customers and aims to expand its product offerings.

Guidewire Software (NYSE: GWRE) has appointed Rajani Ramanathan to its Board of Directors, enhancing its leadership amid significant industry transformation. Ramanathan, who previously served as COO at Salesforce, brings extensive technology expertise. Her addition is expected to bolster Guidewire's mission to innovate within the Property and Casualty insurance sector. Co-founder Marcus Ryu noted the strategic advantage of her insights during this critical transition for the company and the industry.

Guidewire Software (NYSE: GWRE) announced the promotion of Exavalu, Inc. to PartnerConnect Consulting Select partner status. This tier recognizes partners for achievements in expertise, certifications, and specializations within the insurance industry. Exavalu, a consulting firm focused on property and casualty insurance, has demonstrated significant implementation experience across Guidewire’s product suite, which includes InsuranceSuite and Cloud services. This relationship aims to enhance mutual customer service and leverage Exavalu's capabilities in digital transformation.

Guidewire Software (GWRE) reported its fiscal Q3 results for 2021, with total revenue of $164 million, a 2% decline year-over-year. Subscription and support revenue rose 28% to $64.8 million, while license and services revenue fell by 19% and 11%, respectively. ARR increased to $538 million from $514 million. The GAAP net loss reached $36.6 million, translating to a loss per share of $0.44. The company has projected Q4 ARR between $562 million and $569 million, with total revenue expected between $218 million and $224 million.