Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group
Inc. (NYSE: RDN), and Guidewire Software, Inc. (NYSE: GWRE), a provider
of software products to Property/Casualty insurers, today announced that
Radian has selected Guidewire InsuranceSuite™ as its new platform for
underwriting, rating and policy administration, claims management, and
billing. The company also selected Guidewire Client Data Management™ to
help give it a comprehensive customer view across underwriting, policy
administration, claims, and billing processes. Guidewire PartnerConnect™
alliance member, Capgemini, has been selected to lead the implementation
project, with Guidewire working in close collaboration.
Radian selected Guidewire’s InsuranceSuite in order to expedite
underwriting turn times, reduce complexities caused by multiple
platforms, and enhance its business and technology capabilities.
“In addition to the business and IT benefits we know Guidewire
InsuranceSuite will bring to us, we selected InsuranceSuite because the
governing principles of how Guidewire has architected its software have
remained intact since 2002,” said Lawrence DelGatto, Radian’s executive
vice president and chief information officer. “We were impressed with
the way that Guidewire’s software was developed which allows it to be
easily customized and integrated with external partners, suppliers and
other market solutions for a streamlined insurance experience.”
“We are pleased to welcome Radian to the Guidewire family as an
InsuranceSuite customer,” said Dan Gordon, vice president, Product
Management, Guidewire Software. “We recognize Radian’s commitment to
operational speed and efficiency and look forward to helping them
achieve their objectives.”
Guidewire InsuranceSuite powers the mission-critical operations of
property/casualty insurers competing in today’s market. The suite was
designed using a modular approach, enabling insurers to select
individual applications -- Guidewire PolicyCenter®, Guidewire
BillingCenter®, and Guidewire ClaimCenter® -- or a pre-integrated set,
driven by their requirements and priorities. InsuranceSuite provides the
flexibility insurers need to deliver insurance the way they want to, by
rapidly delivering better products and service to their policyholders
and agents, while improving underwriting discipline and lowering
operational costs.
About Radian
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides
private mortgage insurance and related risk mitigation products and
services to mortgage lenders nationwide through its principal operating
subsidiary, Radian Guaranty Inc. These services help promote and
preserve homeownership opportunities for homebuyers, while protecting
lenders from default-related losses on residential first mortgages and
facilitating the sale of low-down payment mortgages in the secondary
market. Additional information may be found at www.radian.biz.
Forward-Looking Statements
Some of the statements in this press release may constitute
“forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities and Exchange Act
of 1934 and the United States Private Securities Litigation Reform Act
of 1995. Words such as "will," "expects," "believes" and similar
expressions are used to identify these forward-looking statements. These
forward-looking statements, which may include without limitation,
projections regarding our future performance and financial condition,
are made on the basis of management’s current views and assumptions with
respect to future events. Any forward-looking statement is not a
guarantee of future performance and actual results could differ
materially from those contained in the forward-looking statement. These
statements speak only as of the date they were made, and we undertake no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. We operate
in a changing environment. New risks emerge from time to time and it is
not possible for us to predict all risks that may affect us. For more
information regarding these risks and uncertainties as well as certain
additional risks that we face, you should refer to the Risk Factors
detailed in Item 1A of Part I of our Annual Report on Form 10-K for the
year ended December 31, 2012 and subsequent reports and registration
statements filed from time to time with the Securities and Exchange
Commission.
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 150 Property/Casualty
insurers around the world have selected Guidewire. For more information,
please visit www.guidewire.com.
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Copyright Business Wire 2013