|By Business Wire||
|March 17, 2014 02:00 AM EDT||
Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to Property/Casualty (P&C) insurers, today announced that it has been named a "Market Leader" by global industry analyst firm Ovum in its report “Ovum Decision Matrix: Selecting a P&C Insurance Policy Administration Platform – Europe, 2013–14.” In the report, Guidewire PolicyCenter® earned high marks for its core P&C functionality, strong partner network and new large-scale deployments.
Ovum's report provides a detailed look at the competitive landscape for P&C insurance policy administration platforms for use by insurers operating in the European market. Vendors are assessed according to their market reach and influence, as well as the functionality provided by their platform's technology. According to Ovum, Guidewire meets the criteria for "Market Leader" in the P&C market due to its strong partner network in Europe and the growing number of live large-scale deployments of Guidewire PolicyCenter. The report gave PolicyCenter high marks for its core P&C functionality — thanks to advanced features such as integrated geocoding — and strong rating and billing capabilities.
“Guidewire PolicyCenter has the most significant client base among the larger tier-1 and tier-2 personal lines insurers and the highest growth rate of all vendors considered,” said Charles Juniper, author of the report and Ovum Senior Analyst, Insurance Technology. “Guidewire also has the strongest partner network both in terms of the number of trained partner consultants and partner credibility within global insurance sectors.”
“We are honored that Ovum has recognized Guidewire as a Market Leader in Europe,” said Keith Stonell, managing director EMEA, Guidewire Software. “We are focused on enhancing our presence in Europe and the global market, and Ovum’s recognition of the strides we have made in expanding outside of North America is a testament to the strength and technological capabilities of PolicyCenter and the expertise of our team.”
Download an excerpt of the Ovum report, here.
About Guidewire PolicyCenter®
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.
Jointly awarded IIAR Global Analyst of the Year 2012, Ovum provides clients with independent and objective analysis that enables them to make better business and technology decisions. Its research draws upon over 400,000 interviews each year with business and technology, telecoms and sourcing decision-makers, giving Ovum and its client’s unparalleled insight, not only into business requirements but also the technology that organizations must support. Ovum is an Informa business.
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. Follow us on Twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire DataHub, Guidewire InfoCenter, Guidewire Live, Guidewire Live Inside, Before & After, Claim Canvas, ViewPoint, Guidewire PartnerConnect, Guidewire SolutionConnect, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks or registered trademarks of Guidewire Software, Inc. in the United States, other countries or both.
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