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Guidewire (GWRE), Chronovo Simplify Structured Claims Settlements

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Guidewire Software, Inc. (GWRE - Free Report) has collaborated with an insurance company, Chronovo, to include the latter’s Ready for Guidewire add-on solution in the Guidewire Marketplace app. Dubbed StructureAssist, this validated add-on will aid insurers with simplified structured settlements on the back of lucid, graphically-driven quotes while highlighting the value of structures for all parties.

Chronovo is a leading player in the structured settlement annuity marketplace. Its interactive approach turns complex mathematics of compounding interest and tax-free benefits into simple, actionable infographics, thereby saving time for claimants, counsel and claims professionals. Thanks to its proprietary technology, this Burlington, MA-based company’s payment structures facilitate insurers with a maximized tax-free financial path.

Markedly, Chronovo is an Access-level Guidewire PartnerConnect Solution Alliance member. Boasting a robust team of multi-disciplinary professionals, its specialty practice groups include Chronovo Connect, Complex Claims Group and Chronovo Consulting Group. It delivers a plethora of offerings to claims organizations and self-insured employers. These solutions optimize claims savings and performance with new insights, insider perspectives and measurable strategies.

Chronovo’s StructureAssist app streamlines structured settlements by eliminating the hassles of tracking down a broker, manually filling out a referral form and attaching documents. A structured settlement is defined as a steady stream of tax-free payments granted to the plaintiff in civil litigation. It provides financial security to the injured party in the long run. With the StructureAssist add-on, claims professionals can secure a structured settlement annuity quote and access broker consultation within a short time from inside ClaimCenter.

Structures can be integrated with negotiations on a real-time basis, thereby avoiding time delays with seamless access to savings and innovation. The solution capitalizes on ClaimCenter data to prefill information and allow easy attachments without outside e-mails or tracking. It clarifies the value of structures for all parties with a graphically-driven quote and connects Claims Center directly to Chronovo’s Connect team of structured settlement brokers to finalize settlements.

Last year, Guidewire had announced the acquisition of HazardHub, which provides comprehensive, national coverage for risks that destroy and damage property. HazardHub’s tools are currently used by more than 110 enterprises, including insurers, reinsurers, brokers, MGAs and other insurtechs. The addition of HazardHub will strengthen Gudewire’s portfolio, which will expand the company’s footprint in the P&C market, thereby driving top-line growth.

It is worth mentioning here that strategic acquisitions have played an important part in driving Guidewire’s growth trajectory over the past few years. Buyouts like Cyence, ISCS (now called InsuranceNow), FirstBest (now called Guidewire Underwriting Management) and EagleEye Analytics (now known as Guidewire Predictive Analytics) have helped in cross-selling of the product suites, which has expanded customer base and revenue generation.

Guidewire is also riding on higher subscription revenues. The company’s subscription-based offerings are gaining from robust adoption of its InsuranceSuite Cloud platform. The company's focus on enhancing its Guidewire Cloud platform with new capabilities, including digital frameworks, automation, tooling and other cloud services, is expected to boost sales of subscription-based solutions and expand its customer base. Moreover, a less competitive market, regular customer additions and transition to a cloud-based model are key positives.

Guidewire currently has a Zacks Rank #4 (Sell). Its shares have lost 19.2% against the industry’s growth of 15.5% in the past year.

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You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

TD SYNNEX Corporation (SNX - Free Report) is a better-ranked stock in the industry, sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for its current-year earnings has been revised 7.6% upward over the past 60 days.

TD SYNNEX delivered a trailing four-quarter earnings surprise of 8.3%, on average. It has returned 17.6% in the past year. SNX has a long-term earnings growth expectation of 10.4%.

MSCI Inc. (MSCI - Free Report) , another solid pick for investors, carries a Zacks Rank #2 (Buy). The consensus estimate for earnings for the current year has been revised 0.5% upward over the past 60 days.

MSCI delivered a trailing four-quarter earnings surprise of 4.6%, on average. The stock has gained 23.4% in the past year.

Wipro Limited (WIT - Free Report) also has a Zacks Rank #2, at present. The consensus estimate for current-year earnings has been revised 3.4% upward over the past 60 days.

Wipro delivered a trailing four-quarter earnings surprise of 0.5%, on average. The stock has rallied 27.5% in the past year. WIT has a long-term earnings growth expectation of 9%.

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