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.
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Copyright Business Wire 2015