Guidewire Software Inc Stock Price, News & Analysis

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.

S&P Global Ratings has expanded its partnership with Guidewire to integrate cyber risk insights from Guidewire Cyence Risk Analytics into its assessment tools. This collaboration aims to enhance the understanding of cybersecurity vulnerabilities and their financial implications on businesses. According to Chris Heusler of S&P, the partnership offers deeper insights into cyber risks affecting credit ratings. The initiative responds to the increasing importance of cyber risk in evaluating company financial health in today's digital landscape.

Guidewire Software (NYSE: GWRE) announced the successful deployment of its products by E.design Insurance for its new auto insurance brand, &e (Andy). The implementation includes InsuranceSuite for core operations and CustomerEngage for enhanced customer experience. This makes E.design the first in the Asia-Pacific to use Guidewire for Salesforce. The collaboration aims to support a digital-first strategy and improve customer interactions while minimizing car accident risks. The deployment was completed in a year and a half.

Guidewire (NYSE: GWRE) has announced a new partnership with Bdeo Technologies, which has joined the Guidewire PartnerConnect as a Solution partner. This collaboration will integrate Bdeo's Visual Intelligence for Claims into Guidewire's ClaimCenter platform. The technology utilizes AI and visual data to assess vehicle damage, aiming to streamline the claims process. Bdeo plans to introduce additional modules for underwriting and home damage claims, enhancing operational efficiency and customer satisfaction.

Guidewire Software (NYSE: GWRE) announced a successful nationwide deployment of ClaimCenter by Mitsui Sumitomo Insurance (MSI) for its auto insurance line in Japan. The new system, which began in Hokkaido in July, is fully operational across all regions as of November. This digital transition enables a paperless workflow, enhancing remote operations and facilitating faster claims processing. MSI plans to expand the system's use to cover other insurance claims starting in 2023, further boosting productivity and collaboration within the MS&AD Insurance Group.