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Guidewire Software, Inc. (symbol: GWRE) is a leading provider of software solutions tailored for the property and casualty (P/C) insurance industry. Guidewire combines core processing, data analytics, and digital engagement into a unified technology platform. This platform enables insurers to adapt and thrive amid the rapid changes in the industry.
Guidewire's flagship product, InsuranceSuite, is a comprehensive on-premises system of record. It comprises three main components:
- ClaimCenter: A robust claims management system designed to streamline and optimize claims processing.
- PolicyCenter: A policy management system that handles policy definitions, quotations, issuance, maintenance, and renewals.
- BillingCenter: A billing management system that facilitates payment plans and agent commissions.
In addition to InsuranceSuite, Guidewire offers InsuranceNow, a cloud-based solution, along with a variety of other add-on applications to enhance functionality and user experience.
With over 200 P/C insurers worldwide utilizing Guidewire's software, the company emphasizes customer and employee empowerment through technology. Guidewire is not only focused on delivering high-quality products but also on fostering partnerships and innovation within the insurance sector.
For the latest updates on Guidewire's projects, developments, and news, you can check out their blog, Smart Approach, at http://www.guidewire.com/blog/ or follow them on Twitter at @Guidewire_PandC.
Rhea-AI Summary
Guidewire (NYSE: GWRE) and Chrp Technologies (Chrp) have announced the availability of Chrp’s new Ready for Guidewire validated accelerator in the Guidewire Marketplace. Chrp specializes in inspection-based loss prevention for insurers and its technology uses AI to provide actionable insights to insurers based on their underwriting guidelines, allowing them to underwrite quickly and accurately. The release of the Loss Prevention Accelerator enables insurers to order inspections directly from PolicyCenter, pre-fill relevant policy data for homeowners, review and store completed inspection data in PolicyCenter, and improve loss ratios and underwriting efficiency. The platform's end-to-end workflow automates communications and notifications between insurers, policyholders, and agents. Chrp's inspection reviews over 200 known failure points both inside and outside homes, catching hazards before they become expensive claims. The technology benefits both insurers and homeowners, reducing risk for both parties and increasing policyholder satisfaction.
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hyperexponential (Ticker: HX) secures $73m Series B funding round led by Battery Ventures, with participation from a16z and Highland Europe. The company's PDI platform, hx Renew, enables insurers to leverage large and alternative datasets, develop and refine rating tools rapidly, and employ sophisticated machine learning approaches to price risk and make data-driven pricing decisions at the portfolio and individual level. The funding will support expansion into the United States and increased investment in new product capabilities to serve growing client demand in adjacent insurance markets, including the SME insurance sector.
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Guidewire (GWRE) appoints Mohammed Anzy as Vice President of Engineering and Managing Director of Guidewire India. Anzy, former COO of SAP Labs in India, will lead operations and engineering execution in Bengaluru and Chennai. He brings 16 years of experience at SAP and holds a Bachelor of Technology and an MBA. Anzy's expertise will be invaluable for Guidewire's growth in India and shaping the strategic direction for the development teams.
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Salient Predictions (NYSE: GWRE) partners with Guidewire to provide S2S weather forecasting technology for P&C insurers, increasing preparedness.
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Guidewire (NYSE: GWRE) awards 13 specializations to 10 PartnerConnect Consulting partners in the first quarter of fiscal year 2024
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Guidewire (NYSE: GWRE) announced that Citizens Property Insurance Corporation (Citizens) has selected Guidewire InsuranceSuite on Guidewire Cloud to power its core businesses, simplify IT operations, quickly adapt to changing market demands, and deliver more value to its policyholders. Citizens has been a Guidewire customer since 2011 and will now migrate its self-managed installations of all the InsuranceSuite products - ClaimCenter, PolicyCenter, and BillingCenter - onto Guidewire Cloud.
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Guidewire (GWRE) and Smarty™ have announced the availability of new Built by Guidewire Smarty integrations for ClaimCenter and PolicyCenter Cloud users in the Guidewire Marketplace. This collaboration enables insurers to enhance property risk analysis using Smarty's suite of cloud-based address data intelligence solutions, including US Rooftop Geocoding. Insurers can now quickly verify addresses, receive additional data points, and improve the accuracy and completeness of property data to better serve policyholders.
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Guidewire (NYSE: GWRE) and Kanverse.ai (Kanverse) have launched a new Ready for Guidewire validated accelerator for PolicyCenter users in the Guidewire Marketplace. Kanverse's AI technology automates insurance document processing with up to 99.5% accuracy, reducing cycle times, operational costs, and manual labor for insurers. The technology extracts data from various insurance documents, including ACORD documents, custom forms, loss run reports, and more, with high accuracy and adaptability. The Ready for Guidewire accelerator allows insurers to file extracted data directly in PolicyCenter, enhancing productivity and strategic focus for insurers.
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Guidewire (GWRE) reports positive first quarter financial results and continued momentum in Guidewire Cloud Platform with seven cloud deals closed. The annual customer conference, Connections, saw approximately 3,000 members from customer and partner communities coming together.
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Guidewire (GWAY) recognized as Industry Partner of the Year - Financial Services - Global winner
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FAQ
What is the current stock price of GUIDEWIRE SOFTWARE (GWRE)?
The current stock price of GUIDEWIRE SOFTWARE (GWRE) is $176.03 as of December 20, 2024.
What is the market cap of GUIDEWIRE SOFTWARE (GWRE)?
The market cap of GUIDEWIRE SOFTWARE (GWRE) is approximately 14.4B.
What does Guidewire Software, Inc. do?
Guidewire Software provides software solutions for the property and casualty insurance industry, offering products like InsuranceSuite, InsuranceNow, and other applications.
What is InsuranceSuite?
InsuranceSuite is Guidewire's flagship on-premises system of record, including ClaimCenter, PolicyCenter, and BillingCenter.
What are the components of InsuranceSuite?
InsuranceSuite comprises three main components: ClaimCenter (claims management), PolicyCenter (policy management), and BillingCenter (billing management).
What is InsuranceNow?
InsuranceNow is a cloud-based software solution provided by Guidewire for the property and casualty insurance industry.
How many insurers use Guidewire's software?
More than 200 property and casualty insurers worldwide have selected Guidewire's software solutions.
Where can I find the latest news about Guidewire?
For the latest updates and news, you can visit Guidewire's blog at http://www.guidewire.com/blog/ or follow them on Twitter at @Guidewire_PandC.
How does Guidewire support insurance companies?
Guidewire supports insurance companies by providing software that enhances core processing, data analytics, and digital engagement, enabling them to improve customer and employee interactions.
What industries does Guidewire serve?
Guidewire primarily serves the property and casualty insurance industry.
Does Guidewire offer cloud-based solutions?
Yes, Guidewire offers InsuranceNow, a cloud-based solution for the property and casualty insurance industry.
How does Guidewire enhance digital engagement?
Guidewire enhances digital engagement by integrating technology that empowers insurers to interact more effectively with their customers and employees.
GUIDEWIRE SOFTWARE, INC.
NYSE:GWRE
GWRE Rankings
GWRE Stock Data
14.39B
83.12M
0.48%
99.74%
2.1%
Software - Application
Services-prepackaged Software
United States of America
SAN MATEO