Guidewire Strengths, Domain Expertise, and Key Differentiators
Guidewire offers a trusted platform for property and casualty (P&C) insurers to effectively engage, innovate, and expand. Their platform integrates core operations, digital engagement, analytics, machine learning, and artificial intelligence (AI) applications, available as either a cloud service or self-managed software. Key operational services and products include InsuranceSuite Cloud, InsuranceNow, and self-managed installations of InsuranceSuite. These solutions serve as transactional systems of record, supporting the complete insurance lifecycle, from product definition and distribution to underwriting, policyholder services, and claims management.
Guidewire Recent Developments
In November 2023, Guidewire unveiled its latest cloud release, Innsbruck, designed to empower insurers in seizing market opportunities through enhanced customized digital experiences, risk insights, and claims automation. This release introduces a record number of new functional capabilities, including the Jutro Digital Platform (Jutro), enabling insurers to craft digital experiences tailored for any user across various lines of business or distribution channels. Additionally, Predict introduces Analytics Manager to seamlessly embed insights into underwriting and claims processes through codeless configuration. HazardHub enables swift and precise risk assessment for Canadian properties, catering to the needs of insurers. Autopilot Workflow Service streamlines business processes throughout the P&C insurance lifecycle, with initial emphasis on optimizing claims workflows. Moreover, Data Studio expedites the realization of business insights and analytics by simplifying the creation of curated operational datasets from InsuranceSuite core data. Finally, Predict now features Tune, a framework enabling actuaries to evaluate pricing strategies aimed at maximizing growth and profitability.
Guidewire Mergers and Acquisitions (M&A) Activities
In August 2021, Guidewire Software has acquired HazardHub, a insurtech provider of API-driven property risk insights to the P&C insurance industry. HazardHub powers decisions for 110+ organizations, including insurers, reinsurers, brokers, MGAs, and other insurtechs. Insurers use HazardHub to underwrite with confidence, micro-segment rating zones, manage risks profitably, and drive competitive advantage.
In October 2017, Guidewire acquired Cyence, a software company that applies data science and risk analytics to enable P&C insurers to grow by underwriting “21st-century risks” that have gone underinsured or uninsured. As traditional actuarial approaches struggle to address the unique characteristics of emerging risks like cyber, Cyence’s next-generation approach will enable insurers to broaden the scope and value of the products their policyholders need.
In February 2017, Guidewire acquired ISCS. With the acquisition of ISCS, Guidewire offers a cloud-based, all-in-one solution that supports the P&C insurance lifecycle, InsuranceNow. As an all-in-one system, InsuranceNow includes key core functionality for policy administration, billing, and claims management. It also includes data and digital functionality, such as agent access and consumer portals, document management, reinsurance, business intelligence, and producer management, within a single system.
In August 2016, Guidewire announced the acquisition of FirstBest Systems, Inc. The addition of FirstBest’s technology and people enables the expansion of the Guidewire InsurancePlatform by providing insurers in the U.S and Canada writing complex commercial, specialty, and workers’ compensation lines greater support for their risk assessment and decision-making processes for P/C insurers.
In March 2016, Guidewire acquired EagleEye Analytics, a provider of SaaS-based predictive analytics products specifically designed for Property/Casualty insurers. With the acquisition of EagleEye, Guidewire enables its customers to apply predictive analytics to make better decisions across the insurance lifecycle. Guidewire supports the complete predictive analytics process including data preparation, model building, operational deployment, performance monitoring, and analytic feedback.
Guidewire Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Guidewire applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Guidewire and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Guidewire InsuranceSuite, Guidewire InsuranceNow, Guidewire Live customers.
Guidewire Overview
2850 South Delaware St., Suite 400
San Mateo, CA, 94403, United States
1 650-357-9100
https://www.guidewire.com/
Ownership: - NYSE: GWRE
Number of Employees: 3415
Functional Markets: Content Management, CRM, ERP Financial, ERP Services and Operations,
Key Verticals: P&C Insurance,
Guidewire Key Enterprise and Cloud Applications
Guidewire InsuranceSuite, Guidewire InsuranceNow, Guidewire Live
Guidewire Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Guidewire Revenue Breakdown By Type, $M:
Guidewire Enterprise Applications Revenues By Functional Markets, $M:
Guidewire Enterprise Applications Revenues By Verticals, $M:
Guidewire Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Guidewire Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Guidewire Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Guidewire Customers
No. of Guidewire Customers: 580
No. of Guidewire Enterprise Applications Customers: 580
No. of Guidewire Cloud Customers: x
No. of Guidewire Cloud Subscribers: x
Guidewire serves over 580 customers, encompassing about 540 insurance brands across 40 countries, who utilize one or multiple of its products. Among these esteemed clients are USAA Group, Gore Mutual, Church Mutual, EMC, Lincoln Financial, Topdanmark, Vermont Mutual, Heartland Mutual, AAA Carolinas, AF Group, Alfa Insurance, Amerisafe, Arrowhead General Insurance, and many more.
Guidewire Market Opportunities, M&A and Geo Expansions
An opportunity for Guidewire lies in the fact that a substantial segment of the market still depends on legacy systems. As insurers using legacy systems aim to enhance operational efficiencies, explore new markets and lines of business, and introduce innovative digital and data-driven offerings, there is a growing demand for modern claims, policy management, and billing systems. Guidewire is poised to capitalize on this trend by offering its advanced solutions to meet the evolving needs of insurers, thus driving further market penetration and growth.
Guidewire Risks and Challenges
Some of the risks related to Guidewire's business include: Seasonal fluctuation in revenue; increase in licensing models that feature ratable revenue recognition; increases in cloud-related development and services costs.
Guidewire Ecosystem, Partners, Resellers and SI
The Guidewire PartnerConnect ecosystem is the largest in the P&C industry, with over 185 solution technology partners providing over 215 integrations in the Guidewire Marketplace, and 23,000+ consultants who have been trained or are experienced in Guidewire products. Some of their partners are InsurePay, ServicePower, genpact, pwc, EY and Cognizant.
Guidewire Cloud Infrastructure Insights
Subscribe to read more about:
- Guidewire Public Cloud and Infrastructure (IaaS)
- Guidewire Platform (PaaS)
- Guidewire Application Delivery
- Guidewire Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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