GUIDEWIRE SOFTWARE, INC. - GWRE STOCK NEWS

Guidewire Software reported its fiscal Q2 2021 results, achieving total revenue of $180.1 million, a 4% increase year-over-year. Subscription revenue surged by 20% to $59.6 million, while license revenue grew 2% to $77.9 million. However, services revenue fell by 10%. The GAAP net loss improved to $8.7 million (compared to $19.9 million a year prior), with a loss per share of $0.10. Looking ahead, Guidewire expects ARR to be between $533 million and $536 million for Q3 and projects total fiscal revenue of $725 million to $733 million.

Guidewire Software (NYSE: GWRE) will announce its financial results for the fiscal quarter ending January 31, 2021, after market close on March 4, 2021. Management will conduct a conference call at 2:00 p.m. PT (5:00 p.m. ET) to review the results of the second quarter. A recorded version will be available on the company’s website shortly after the call. Guidewire continues to support over 400 insurers globally, emphasizing its commitment to innovation and efficiency in the insurance sector.

Guidewire Software, Inc. (NYSE: GWRE) has promoted seven partners within its PartnerConnect Solution Alliance Program, recognizing their contributions to mutual customers. The tiers include Access, Select, Advantage, and Premier, with promotions awarded based on market traction and adoption of integrated solutions. Notable promotions include Verisk to Premier, and Hi Marley, OneSpan, and Prelude Software to Advantage. The program aims to empower insurers through innovative solutions, with over 100 partners in the ecosystem, enhancing Guidewire's platform capabilities.

Church Mutual Insurance Company has announced its subscription to ClaimCenter in Guidewire Cloud, enhancing its claims transformation. Originally selecting Guidewire in 2019, Church Mutual aims to modernize its infrastructure, improve customer engagement, and accelerate growth. The implementation will occur across its four entities, enabling a streamlined approach to updates and decreasing reliance on on-premise solutions. This cloud move is expected to reduce capital investments and provide better analytics to meet diverse customer needs.

Beesafe, the digital brand of VIG’s Polish subsidiary, has successfully deployed Guidewire Software’s platform to enhance its digital insurance operations. This deployment, supported by Sollers Consulting, includes tools for policy administration, underwriting, and claims management, aiming to provide a seamless experience for its insurance customers. Launched just four months after conception, Beesafe’s innovative digital model allows quick onboarding with minimal data input, indicating potential for expansion in VIG’s other markets.

Kube Partners and Guidewire Software announced the launch of the Detector R2 add-on for Fraud Detection, now available in the Guidewire Marketplace. This add-on enhances fraud management for insurers by utilizing advanced analytics and AI to assess claim risks and automate workflows. In 2018, insurance fraud in the UK was valued at £1.2 billion, highlighting the need for effective solutions. Detector R2 empowers insurers to reduce false positives and expedite the settlement of legitimate claims, contributing to operational efficiency.

Guidewire Software (NYSE: GWRE) has partnered with TrueMotion, a leading smartphone telematics platform, via the Guidewire PartnerConnect program. This collaboration introduces a claims accelerator that integrates telematics data into Guidewire ClaimCenter. The new system enhances efficiency by automatically providing adjusters with critical crash data, such as location and impact speed, improving the claims process. Enhanced customer satisfaction from a smoother claims experience can lead to higher retention rates, as indicated by a J.D. Power study, where satisfied clients are more likely to renew their policies.

Guidewire Software, Inc. (NYSE: GWRE) announced that its PolicyCenter has won the XCelent Award for the best policy administration system in Celent’s 2021 report, outperforming 41 solutions in categories such as Breadth of Functionality, Customer Base, and Depth of Service. The ongoing investment in PolicyCenter is highlighted as a key asset for the P&C Insurance community. This recognition is seen as a testament to Guidewire's commitment to innovation and customer success, supported by over 400 insurers utilizing their platform.

ClaimFox, a claim file request fulfillment expert and Guidewire PartnerConnect Solution partner, has launched its new Ready for Guidewire validated accelerator, now accessible for ClaimCenter users via the Guidewire Marketplace. The eRequest solution enhances data security and streamlines claims processing, allowing insurers to upload requests directly within ClaimCenter. This integration reduces internal costs and improves efficiency by providing timely status updates on request fulfillment. ClaimFox supports nearly 40 million pages of claim requests annually, emphasizing its role in optimizing insurer operations.