IDC MarketScape Positions Guidewire as a Leader in Its First Assessment for Worldwide Policy Administration Systems

FOSTER CITY, Calif.--(BUSINESS WIRE)--Jul. 1, 2015-- Guidewire Software, Inc. (NYSE:GWRE), a provider of flexible software products to Property/Casualty (P/C) insurers, today announced that the company was positioned as a leader in the recently published, “IDC MarketScape: Worldwide Policy Administration Systems 2015 Vendor Assessment.”¹ An excerpt from the report can be viewed here.

In its inaugural year, the IDC MarketScape assessment for policy administration systems evaluated the “capabilities and business strategies of 10 global vendors offering policy administration systems (PAS) to IT buyers.” The report aimed to facilitate more informed investment decisions and provide information on how the vendors featured can help insurers meet their business goals and technology expectations.

“A factor that propelled Guidewire to its position within our IDC MarketScape chart for its across-the-board strength and depth includes being built using state-of-the-art modern technology and architecture with no legacy or acquired code,” wrote Li-May Chew, associate research director, IDC and author of the report. “Guidewire has one of the more robust P/C PAS currently in the market, and such scalability and flexibility appeal to customers that are expanding and demand a solution that will be able to meet their future strategic requirements.”

“Guidewire is honored to be named a leader in the IDC MarketScape’s review of global Policy Systems,” said Brian Desmond, senior vice president, Marketing, Guidewire Software. “On behalf of the Guidewire team, I’d like to congratulate IDC on this inaugural report and to thank them for this recognition which in many ways reflects the success our customers are having. We believe P/C insurance plays a vital role in society and that the industry is changing at a pace never seen before. It is incumbent upon Guidewire to ensure our customers have the technology required so that they can execute on their promise to their customers over the long term.”

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 legacy systems or third party applications.

About the IDC MarketScape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Guidewire Software

Guidewire builds software products that help Property/Casualty 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 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.

¹ IDC MarketScape: Worldwide Policy Administration Systems 2015 Vendor Assessment, Li-May Chew, May 2015; #AP251041

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150701005322/en/

Source: Guidewire Software, Inc.

Guidewire Software, Inc.
Diana Stott, +1 650-356-4941
Director, Communications
dstott@guidewire.com