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Guidewire (GWRE) Insurtech Vanguards Platform Boasts 25 Members

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Guidewire’s (GWRE - Free Report) Insurtech Vanguards platform now has more than 25 members (mostly start-ups) since its launch in October 2021. Insurtech Vanguards is an endeavor by the company to connect P&C insurers with innovative technology providers to speed up work and improve client experience.

The members offer P&C insurers many solutions like claim inspection imaging and reporting. Some of the participating tech members offering solutions in broker services include Acclaim IQ, AgentSync, Annex Risk, Bindable and EqualTo. 

Tech start-ups like Albany Group, Analytics IQ, Gradient AI, Indico Data, Roost, Attestiv and Clearspeed are also helping P&C insurers by extending artificial intelligence (AI) and data analysis tech for fraud detection and rapid compliance testing.

For Virtual Inspections, tech companies like Hosta AI, ICEYE, MotionsCloud and Click-ins provide solutions to the P&C insurers to aid them in vehicle inspections and remote property assessment, among others.

 

Guidewire will provide strategic guidance to participating tech innovators while connecting them with its base of P&C clients.

San Mateo, CA-based Guidewire Software, Inc. provides software solutions for property and casualty (P&C) insurers. The company's solutions reduce risk via increased productivity, bringing speed to market, digital engagement and simplifying IT infrastructure. Guidewire InsurancePlatform is a P&C industry platform, deployed through Guidewire Cloud joining software, services, and partner ecosystem to customer business.

Guidewire is riding on higher subscription revenues, as reflected by its fiscal second-quarter results. The company reported revenues of $204.6 million, rising 13.7% year over year and beating the Zacks Consensus Estimate of $198 million in the fiscal second quarter.

The company’s subscription-based offerings are gaining from the robust adoption of the InsuranceSuite Cloud platform. Further, its focus on enhancing the Guidewire Cloud platform with new capabilities is expected to boost sales of subscription-based solutions in the long haul.

At present, Guidewire carries a Zacks Rank #3 (Hold). Shares of GWRE have lost 19.4% against the industry’s decline of 8.6% in the past year.

Other Key Picks

A few other top-ranked stocks from the broader technology sector worth consideration are InterDigital (IDCC - Free Report) , Flex (FLEX - Free Report) and Cadence Design Systems (CDNS - Free Report) . InterDigital and Flex sport a Zacks Rank #1 (Strong Buy) while Cadence carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Flex’s fiscal 2023 earnings is pegged at $2.16 per share, up 6.9% in the past 60 days. The long-term earnings growth rate is pegged at 14.9%.

Flex’s earnings beat the Zacks Consensus Estimate all last four quarters, with the average being 21.1%. Shares of FLEX have declined 8.9% in the past year.

The Zacks Consensus Estimate for Cadence 2022 earnings is pegged at $3.89 per share, up 4.3% in the past 60 days. The long-term earnings growth rate is 17%.

Cadence’s earnings beat the Zacks Consensus Estimate all last four quarters, with the average being 10.6%. Shares of CDNS have gained 16% in the past year.

The Zacks Consensus Estimate for InterDigital 2022 earnings is pegged at $3.28 per share, up 5.1% in the past 60 days. IDCC’s long-term earnings growth rate is pegged at 15%.

InterDigital’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 141.1%. Shares of IDCC have lost 15.9% of their value in the past year.

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