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May 18, 2015 at 3:02 AM EDT

Guidewire Marks Ten Years in Europe

Software provider reflects upon changing insurance technology demand allied to Guidewire growth across Europe over last decade

LONDON & FOSTER CITY, Calif.--(BUSINESS WIRE)--May 18, 2015-- Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to general insurers, today celebrates its presence in Europe, ten years since opening its London office.

Keith Stonell, managing director EMEA, Guidewire, considers how Guidewire’s UK and wider European business have matured in that time, in line with the development of insurance technology as a whole. “When we opened our regional headquarters in London the focus for many insurers was on replacing their outdated, often inflexible legacy claim systems that were limiting business efficiency. The challenge of the day was deciding whether to build a new solution or buy one of the emerging modern technology systems on the market, like ours. Insurers now largely recognise the advantages of purchasing packaged core system software, not just for claims management but for underwriting, policy administration, and billing as well. This has been followed rapidly by an increasing urgency to be more responsive, and to become more flexible and innovative in the services they provide to their customers and brokers.”

Stonell continued, “Many European insurers now seek software that allows them to transform their business relatively quickly, starting with their core technology and extending through to the omni-channel digital experience expected by their customers. In response to the demands of the insurance market, Guidewire products have evolved to support this customer-centric service provision, providing the foundation and tools to ensure that insurers succeed in what has become a drive to continuously improve their business and better serve their customers.”

Since 2005, key highpoints for Guidewire EMEA include:

  • European customer numbers have risen to more than 30 across nine countries. Insurers selecting Guidewire include: ADAC, Admiral Group plc, Aviva UK, Basler, Beazley Group plc, Direct Line Italy, Hastings Direct, L’Olivier, LV=, NFU Mutual, P&V, Pohjola, PZU, QBE European Operations, Rossgosstrakh, Tinkoff, Towergate, TUiR Warta, UnipolSai Assicurazioni S.p.A., and Zurich.
  • User Groups have been established by customers in three markets to discuss insurance technology experience and share insight;
  • London Market Messaging, a Guidewire ClaimCenter extension pack was introduced, delivering specialised functionality to address the unique requirements of the London insurance market;
  • Staff numbers have grown to more than 300, with offices in Dublin, London, Milan, Munich, Paris and Warsaw. Dublin is Guidewire’s largest office outside of the U.S., and comprises a European Development Centre and Global Services Centre;
  • Along with global partnerships, local partner relationships in Europe have continued to develop (offering specific market expertise) as part of Guidewire’s global PartnerConnect programme;
  • Industry analysts have recognised Guidewire’s position in Europe as an insurance technology leader:
    • XCelent Awards 2015 (Functionality and Customer Base) in Celent’s Claims Systems Vendors: EMEA P&C Insurance 20151, read report;
    • A leader in Gartner’s first Magic Quadrant for Property and Casualty Insurance Claims Management Modules2, read report;
    • A Market Leader in Ovum’s Decision Matrix: Selecting a P&C Insurance Policy Administration Platform - Europe, 2013-14 report3, read report.

Craig Beattie, senior analyst, Insurance, Celent, commented that, “Guidewire is a vendor consistently referenced by insurers across Europe particularly, with a reach and deployment record that is very impressive and speaks for itself in this diverse market.”

Marcus Ryu, chief executive officer, Guidewire, stated, ““The last decade of operations in Europe have been both extremely rewarding and humbling for Guidewire. We have enjoyed dramatic growth in our European customer community and celebrated many project successes, while constantly learning how to fulfill the ambitions of this extremely diverse marketplace. Many of the largest and most sophisticated insurers in the world are Europe-based, and we will continue to invest to earn the opportunity to serve them.”

About Guidewire Software

Guidewire builds software products that help general insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 180 general insurers around the world have selected Guidewire. For more information, please visit Follow us on twitter: @Guidewire_PandC.

NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, and Guidewire BillingCenter are registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.

1Claims System Vendors – EMEA P&C Insurance 2015, Celent, Craig Beattie, February, 2015

2Magic Quadrant for Property and Casualty Insurance Claims Management Modules, Gartner, Reference ID:G00261134, Jeff Haner, May 28, 2014

3Ovum Decision Matrix: Selecting a P&C Insurance Policy Administration Platform - Europe, 2013-14, Charles Juniper, 17 October, 2013

Source: Guidewire Software, Inc.

Guidewire Software, Inc.
Diana Stott, +1-650-356-4941
Director, Communications