Guidewire Reports Continued Strong Market Momentum in Property/Casualty Policy Market

Guidewire Software®, a leading provider of flexible core systems to property/casualty (P/C) insurers, today announced that Guidewire PolicyCenter® is continuing to enjoy strong market momentum and industry recognition. With 11 new insurers selecting PolicyCenter in the past 24 months, PolicyCenter continues to attract the industry’s attention and gain market share.

“Our customer adoption and customer success validate the strategic investment we have made in PolicyCenter since 2005,” said Marcus Ryu, chief executive officer, Guidewire Software.  “As in the claims and billing domains, we believe the industry urgently needs a vendor to lead the next-generation underwriting and policy administration market. I believe that, once again, Guidewire’s exceptional engineering team and expert delivery organization uniquely qualify us to be that leader.”

Highlights of Guidewire’s PolicyCenter success include:

• 17 PolicyCenter insurer clients, with 11 new clients added in the past 24 months;
• 7  insurers are in production with PolicyCenter supporting a broad range of personal, commercial, and workers’ compensation lines of business;   
• Positive feedback highlighted in the ACE Ranking Report includes: significant enhancements in insurer productivity since implementing PolicyCenter, customers noting their faith in the product, the system’s scalability, aggressive investment in new releases and Guidewire’s focus on the customer’s success;
• Earned an average ranking of 92 (out of a possible 100) in Novarica’s Average Customer Experience (ACE) Ranking: Guidewire PolicyCenter 2011 Q1, as well as rankings of 94 for Overall Customer Satisfaction and 92 for both Technology and Functionality. Download the report here.

“We congratulate Guidewire on their success with PolicyCenter and for earning a strong ACE Ranking from their customers,” commented Matthew Josefowicz, partner and managing director of Novarica.  “PolicyCenter ranked well in all categories and received a perfect score of 100 from their clients in the area of faith in Guidewire’s senior management and overall vision.”

Guidewire PolicyCenter® is a flexible underwriting and policy administration system that enables property/casualty insurers to grow business profitably by improving efficiency, while responding with agility to market opportunities and enhancing relationships with agents and customers. Designed to support both commercial and personal lines, PolicyCenter helps insurers streamline front and back office processes, from new business submission and quoting through policy renewals. PolicyCenter is available as a standalone system or as part of Guidewire InsuranceSuite®, and can be integrated to an insurer’s existing systems and third party applications.

About the Novarica Average Customer Experience (ACE) Ranking Report, 2011 Q1

The report, Novarica ACE Ranking: Guidewire PolicyCenter 2011Q1, was published in January and is based on an online survey of senior technology and operational executives at insurer clients who have direct experience with the Guidewire organization and PolicyCenter product.