Guidewire Software Inc Stock Price, News & Analysis

Guidewire (NYSE: GWRE) has welcomed ValueMomentum Inc. as a Select level Consulting alliance member under its Guidewire PartnerConnect program. With over 20 years of experience, ValueMomentum specializes in IT services for the property and casualty (P&C) insurance sector, having collaborated with more than 75 insurers, including 10 of the top 25 U.S. property and casualty carriers. This partnership aims to enhance digital transformation initiatives for these insurers, leveraging both companies’ expertise in technology and insurance.

Guidewire (NYSE: GWRE) and Enservio®, a Solera company, have launched a new ClaimCenter application available on the Guidewire Marketplace. This add-on, Ready for Guidewire, enhances the ClaimCenter platform, allowing adjusters to efficiently manage contents claims through Enservio’s ContentsExpress. Key features include rapid claim request submission, auto-populated data, and real-time updates. The integration aims to improve user experience, empower policyholders, and drive superior outcomes in claims management.

Guidewire has awarded 14 specializations to nine PartnerConnect Consulting partners across the Americas, Europe, and Australia/New Zealand in the first quarter of fiscal year 2022. This achievement reflects partners' expertise in Guidewire products, enhancing clarity for insurers regarding proven capabilities. Over 130 specializations have been achieved to date, helping partners promote their skills. Guidewire Education also provides certification options to ensure partners are cloud-ready, vital for assisting customers in their transformation journeys.

Guidewire (NYSE: GWRE) has welcomed NXT Level Technologies as a new Select-level member of its PartnerConnect Consulting alliance in the Americas. NXT Level, with over 30 years of IT and insurance experience, specializes in Guidewire products and has successfully engaged in more than 50 projects. The partnership aims to provide cost-effective solutions and enhance customer project implementations, contributing to digital transformation journeys for mutual clients. Guidewire's PartnerConnect program is invitation-only and supports extensive consulting resources.

Guidewire (NYSE: GWRE) and LCS Record Retrieval have launched the connectLCS app for ClaimCenter, streamlining the records retrieval process for insurers. This integration allows users to quickly initiate requests, track status updates, and access records efficiently. LCS, with 40 years of experience, offers fast and cost-effective solutions, enabling insurers to enhance customer satisfaction and reduce cycle times. The app is available in the Guidewire Marketplace, making it easier for adjusters to handle claims without leaving the platform.

Pekin Insurance has selected Guidewire (NYSE: GWRE) to implement InsuranceSuite, DataHub, and Live Predict on Guidewire Cloud for its operations. This move aims to streamline IT processes, adapt to market changes, and enhance value for policyholders. Pekin Insurance plans simultaneous implementation across all business lines, starting with commercial lines. The partnership emphasizes the importance of modern technology in improving service delivery for agents and supports risk management through advanced analytics.

Aon plc (NYSE:AON) and Guidewire (NYSE:GWRE) have partnered to implement Guidewire's Cyence Risk Analytics products for enhanced cyber insurance underwriting. This partnership arises from increased concerns over cyber threats, particularly ransomware. By utilizing Guidewire's extensive data capabilities, Aon aims to better model client portfolios and develop tailored solutions for cyber risk, addressing issues like business interruptions and regulatory changes. This move signals Aon's commitment to innovation in risk management and enhancing client service in the evolving insurance landscape.

Guidewire (GWRE) reported its fiscal Q1 2022 results, revealing total revenue of $165.9 million, a 2% decline year-over-year. Subscription and support revenue grew 36% to $79.0 million, while license revenue dropped 38% to $40.2 million. Annual recurring revenue (ARR) reached $594 million, up from $582 million in July 2021. The company sustained a GAAP net loss of $51.3 million, worsening from $20.2 million a year earlier. Guidewire expects Q2 revenue between $195 million and $199 million and a full-year ARR of $659 million to $669 million.

Guidewire (NYSE: GWRE) will announce its financial results for the first quarter of fiscal 2022, ending October 31, 2021, on December 2, 2021, post-market. A conference call and webcast will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. The event will be recorded, and the replay will be accessible on Guidewire’s website for three months. Guidewire continues to innovate as a trusted platform for P&C insurers, combining digital, core, analytics, and AI to deliver cloud services.