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Guidewire, Verisk Allow Users to Update ISO Content Digitally
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Guidewire Software, Inc. (GWRE - Free Report) is riding on elaborate partnership programs and strategic collaborations. The company’s ongoing alliance with Verisk Analytics (VRSK - Free Report) has enabled it to offer robust Guidewire Product Content Management (“GPCM”) service.
Notably, the GPCM offering allows insurers to deliver products as well as product upgrades to market more rapidly. An increasing number of Guidewire customers, almost more than 30, recently opted for GPCM particularly. Notably, this will aid the customers to manage and upgrade ISO rating content digitally.
Verisk’s strong ISO Electronic Rating Content (“ERC”) capabilities enableGuidewireto deliver insurers with faster and cost-effective methods to dynamically update ISO content for various commercial lines.
Guidewire currently provides access to ISO programs leveraging ISO ERC to business owners, commercial property vendors, commercial auto, to mention a few.
Pertaining to ISO update process, Brian Vannoni, principal business owner, Core, Guidewire Software, said, “The combination of Guidewire and Verisk joining forces to simplify this process has greatly eased the update challenge for our mutual customers.”
Notably, Guidewire is a member of Verisk Strategic Alliances, while Verisk along with its ISO business counterparts is a member of Guidewire’s Partner Connect Solution program.
What the Investors Need to Know?
Shares of Guidewire have returned 32.9% year to date, substantially outperforming the industry’s rally of 19.2%. The stock has also fared better than the S&P 500 index’s rise of 11%.
The outperformance can primarily be attributed to robust adoption of several cloud-based products and investors’ optimism regarding the company’s shift to a subscription based model from a term license based one.
Per a report by ReportsnReports, the global insurance analytics market is anticipated to hit $11.96 billion by 2023 at a CAGR of approximately 12.5% from $6.63 billion in 2018. The report reinforces Guidewire’s efforts to capitalize on immense potential of the digitally evolving insurance market.
Moreover, Guidewire’s cloud deployment partner, Amazon Web Services is also gaining momentum and this bodes well for the company. According to Gartner, the global Software-as-a-Service (SaaS) market is expected to reach $117.1 billion by 2021 from $60.2 billion in 2017, highlighting a four-year CAGR of 18.1%. This positions the company well in the long haul.
To Conclude
Guidewire’s Partner Connect Program has been implemented worldwide, benefiting its customers in the property and casualty insurance industry. Ongoing partnerships, including that of Verisk, enable the company to deliver robust services benefiting the mutual customer base with digital methods, reducing time to market in cost-effective ways.
Further, the company’s acquisition strategies are also a major contributor to its growth. The acquisition of Cyence, ISCS (now called InsuranceNow), FirstBest (now called Guidewire Underwriting Management) and EagleEye Analytics (now known as Guidewire Predictive Analytics) are not only aiding revenue growth but also helping the company to expand clientele.
AspenTech and NetApp have a long-term earnings growth rate of 16.5% and 14.1%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roofto $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Guidewire, Verisk Allow Users to Update ISO Content Digitally
Guidewire Software, Inc. (GWRE - Free Report) is riding on elaborate partnership programs and strategic collaborations. The company’s ongoing alliance with Verisk Analytics (VRSK - Free Report) has enabled it to offer robust Guidewire Product Content Management (“GPCM”) service.
Notably, the GPCM offering allows insurers to deliver products as well as product upgrades to market more rapidly. An increasing number of Guidewire customers, almost more than 30, recently opted for GPCM particularly. Notably, this will aid the customers to manage and upgrade ISO rating content digitally.
Verisk’s strong ISO Electronic Rating Content (“ERC”) capabilities enableGuidewireto deliver insurers with faster and cost-effective methods to dynamically update ISO content for various commercial lines.
Guidewire currently provides access to ISO programs leveraging ISO ERC to business owners, commercial property vendors, commercial auto, to mention a few.
Pertaining to ISO update process, Brian Vannoni, principal business owner, Core, Guidewire Software, said, “The combination of Guidewire and Verisk joining forces to simplify this process has greatly eased the update challenge for our mutual customers.”
Notably, Guidewire is a member of Verisk Strategic Alliances, while Verisk along with its ISO business counterparts is a member of Guidewire’s Partner Connect Solution program.
What the Investors Need to Know?
Shares of Guidewire have returned 32.9% year to date, substantially outperforming the industry’s rally of 19.2%. The stock has also fared better than the S&P 500 index’s rise of 11%.
The outperformance can primarily be attributed to robust adoption of several cloud-based products and investors’ optimism regarding the company’s shift to a subscription based model from a term license based one.
Per a report by ReportsnReports, the global insurance analytics market is anticipated to hit $11.96 billion by 2023 at a CAGR of approximately 12.5% from $6.63 billion in 2018. The report reinforces Guidewire’s efforts to capitalize on immense potential of the digitally evolving insurance market.
Moreover, Guidewire’s cloud deployment partner, Amazon Web Services is also gaining momentum and this bodes well for the company. According to Gartner, the global Software-as-a-Service (SaaS) market is expected to reach $117.1 billion by 2021 from $60.2 billion in 2017, highlighting a four-year CAGR of 18.1%. This positions the company well in the long haul.
To Conclude
Guidewire’s Partner Connect Program has been implemented worldwide, benefiting its customers in the property and casualty insurance industry. Ongoing partnerships, including that of Verisk, enable the company to deliver robust services benefiting the mutual customer base with digital methods, reducing time to market in cost-effective ways.
Further, the company’s acquisition strategies are also a major contributor to its growth. The acquisition of Cyence, ISCS (now called InsuranceNow), FirstBest (now called Guidewire Underwriting Management) and EagleEye Analytics (now known as Guidewire Predictive Analytics) are not only aiding revenue growth but also helping the company to expand clientele.
Zacks Rank & Key Picks
Guidewire carries a Zacks Rank #3 (Hold).
Aspen Technology, Inc. (AZPN - Free Report) and NetApp, Inc. (NTAP - Free Report) are a couple of stocks worth considering in the same sector. Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AspenTech and NetApp have a long-term earnings growth rate of 16.5% and 14.1%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roofto $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>