Guidewire Software, Inc. (NYSE: GWRE), a leading provider of flexible core systems to Property/Casualty (P/C) insurers, today announced that the company was recognized in Gartner’s recently published, “MarketScope for North American Property and Casualty Policy Management Modules,” report. IThe report evaluated the 14 solutions that met Gartner’s criteria for inclusion. Guidewire PolicyCenter® earned a “Strong Positive” rating which is the report’s highest possible category. PolicyCenter is the sole solution to be named to the “Strong Positive” category.
“As customer retention and growth through improved service and new products have become top business priorities, Property/Casualty (P/C) insurers are increasingly viewing modern policy management modules as one of their most important technology investments,” said Jeff Haner, principal research analyst, Insurance, Gartner and author of the report. “These systems —with capabilities such as support for customer self-service and real-time transactions, templates for faster deployment of new products, and design tools that make common product changes accessible to nontechnical users — promise improvements in speed and flexibility that are orders of magnitude greater than legacy policy systems.”
To date, more than 35 insurers globally have selected PolicyCenter to run their underwriting and policy administration operations; more than a dozen of whom are in production with the system.
“The Guidewire team is honored to receive this rating by Gartner, a highly respected analyst firm,” said Marcus Ryu, chief executive officer, Guidewire Software. “We are extremely pleased with the momentum we have in the market with PolicyCenter and this rating reflects our progress. We also recognize the need to continually improve our products, services and partner ecosystem to ensure that we maintain a strong track record of helping our customers succeed.”
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.