Guidewire Strengths, Domain Expertise, and Key Differentiators
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 520 insurers in 38 countries, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.
Guidewire Recent Developments
In May 2022, Guidewire unveiled Elysian, the latest in a series of market-defining cloud releases. Elysian innovations equip insurers to quickly connect third-party apps, including insurtech solutions, with Integration Gateway, launch lines of business fast with Guidewire GO and Advanced Product Designer (APD) and expand distribution with a new Embedded Insurance Solution for travel.
In November 2021, Guidewire unveiled Guidewire Live, a suite of analytics apps to equip insurers with real-time insights embedded in core systems across the insurance lifecycle. The announcement arrived with the launch of Dobson, the latest release of Guidewire's market-leading cloud platform, at the company's Connections customer conference. Guidewire Live's smart-loop analytics power the apps that provide insurers with curated intel from an array of high-value data sources. Live Apps are integrated with core systems and enable more accurate decision-making for claims managers, adjusters, underwriters, risk managers and actuaries. Support for open-source analytical models (Bring Your Own Model), new data visualizations, integration of HazardHub property risk insights with PolicyCenter, and greater internationalization capabilities are just a few of the latest innovations included in Guidewire Live.
In the fiscal year 2019, Guidewire launched DevConnect, their new developer environment that makes it easier for their partners to build integrations to InsurancePlatform and easier for their customers to adopt Insurtech innovations through InsurancePlatform.
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
Ownership: - NYSE: GWRE
Number of Employees: 2942
Functional Markets: Analytics and BI, Collaboration, Content Management, CRM, ERP Financial, ERP Services and Operations Management,
Key Verticals: P&C Insurance,
Guidewire Key Enterprise and Cloud Applications
Guidewire InsuranceSuite, Guidewire InsuranceNow, Guidewire Live
Guidewire Revenues, $M:
| Type/Year | 2020 | 2021 | 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:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Guidewire Enterprise Applications Revenues By Functional Markets, $M:
Guidewire Enterprise Applications Revenues By Verticals, $M:
Guidewire Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 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: 520
No. of Guidewire Enterprise Applications Customers: 520
No. of Guidewire Cloud Customers: 125
No. of Guidewire Cloud Subscribers: x
Guidewire has more than 520 customers worldwide using one or more of its products. Some of their customers 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 others.
Guidewire Market Opportunities, M&A and Geo Expansions
In June 2021, Guidewire Software, provider of the industry platform Property and Casualty (P&C) insurers rely upon, announced that it has appointed Rajani Ramanathan to its Board of Directors. “The recruitment of such a distinguished director continues Guidewire’s evolution to succeed in our long-term mission,” said Marcus Ryu, co-founder and chairman of the board, Guidewire. “Rajani will enhance the technology and enterprise SaaS software expertise of the board. Guidewire and our customers will benefit from her insight at this transformative time for the company and the P&C industry.”
Guidewire Software unveiled that Cognizant and PwC have achieved Guidewire PartnerConnect Consulting program specializations. Guidewire’s investment and customers in Japan, Western and Eastern Europe, Peru, and South Africa are evidence of how they are also driving growth and gaining market acceptance with insurers outside of North America. Guidewire Live to create a network that connects its customers to one another with the use of curated external content and expert tools. The Cloud-based service can also be used by insurers to compare their operational performance against that of their peers.
In September 2018, Guidewire hired industry veteran Paul Y. Mang to lead a new analytics and data services unit. With the creation of the ADS business unit and the recruitment of Paul to lead it, Guidewire is uniquely well equipped to harness new data sources at Internet scale and apply new analytic techniques to visualize and mine data for predictive insight. The goals of this new unit complement our long-standing mission to enable insurers to transform their operations through new digital experiences and the replacement of their legacy core systems.
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
Guidewire has an established ecosystem of partners that provide a wide range of consulting services and complementary solutions to property and casualty insurers. Their worldwide partner community helps contribute to the success of their mutual customers in the property and casualty insurance industry by delivering Guidewire software implementations, value-add solution and technology offerings, and guidance on insurance industry best practices. Through the Guidewire PartnerConnect program, Guidewire has 10,000 partners that provide consulting services such as business transformation and strategy, implementation, and related delivery services. Some of their partners are InsurePay, ServicePower, genpact, pwc, EY and Cognizant.
Guidewire Cloud Infrastructure Insights
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- 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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