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Guidewire Software, Inc. provides cloud-based software for property and casualty insurers. Its recurring news centers on Guidewire Cloud Platform adoption, customer go-lives, and migrations of core systems such as ClaimCenter and PolicyCenter from on-premises deployments to cloud environments.
Company updates also cover InsuranceSuite, InsuranceNow, billing and claims workflows, AI-enabled product releases such as ProNavigator, and partner ecosystem programs including Insurtech Vanguards and PartnerConnect. Financial news includes quarterly results, subscription and support revenue trends, annual recurring revenue commentary, outlook updates, and demand for large, multi-year insurance software agreements.
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.
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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.
Guidewire Software (NYSE: GWRE) announced that CEO Mike Rosenbaum will present at William Blair’s Virtual 41st Annual Growth Stock Conference on June 3, 2021, at 1:20 p.m. CT (11:20 a.m. PT). The live webcast and replay will be available on the company’s investor relations site.
Guidewire is a leading platform for P&C insurers, integrating digital, core, analytics, and AI to enhance engagement and innovation. With over 400 insurers relying on its services, Guidewire boasts a strong implementation record with 1,000+ projects and a robust R&D team.
Guidewire Software, Inc. (NYSE: GWRE) announced it will release its financial results for the fiscal quarter ending April 30, 2021, on June 2, 2021, after market close. A conference call to discuss the results will be held at 2:00 p.m. PT. Following the call, a recorded version of the webcast will be available on their website for three months. Guidewire positions itself as a leading platform for P&C insurers, emphasizing their commitment to growth and innovation with more than 400 insurers utilizing their services.
Guidewire Software (NYSE: GWRE) has announced that Deloitte has achieved the Guidewire Cloud specialization through its PartnerConnect Consulting Advantage alliance. This recognition highlights Deloitte's expertise in delivering Guidewire Cloud deployments, enhancing insurers' understanding of qualified advisors. Christina Colby, Guidewire's Chief Customer Officer, emphasized the collaboration's potential in transforming business processes for insurers. Deloitte's Managing Director Missy Goldberg noted that the Guidewire Cloud specialization supports continuous modernization efforts for clients.
Guidewire Software, Inc. (NYSE: GWRE) announced the release of its Cortina cloud platform at Connections Reimagined on May 11-12, with general availability set for May 14, 2021. Cortina introduces advanced features like an API-first Integration Framework, closed-loop analytics, and enhanced Application Services, enabling faster automation and innovation for P&C insurers. Notable offerings include the Guidewire Cloud Console for IT self-service, Claims Autopilot for automated claims handling, and the Data Studio for better data management. Guidewire continues to lead in core platforms as per Gartner's Magic Quadrant.