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MarketScreener Homepage  >  Equities  >  Nyse  >  Guidewire Software, Inc.    GWRE

GUIDEWIRE SOFTWARE, INC.

(GWRE)
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Guidewire Software : British Columbia Automobile Association Selects Guidewire for Business Growth

10/07/2020 | 08:56am EST

Guidewire PartnerConnect Global Premier partner Deloitte to provide implementation, ongoing services, and support

British Columbia Automobile Association (BCAA), a British Columbia (B.C.) personal lines insurer, and Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that BCAA has selected Guidewire to enable digital transformation, deliver service excellence, and accelerate product launches.

Euan Rafferty, Vice President of Underwriting, BCAA, said, “We are operating in a quickly evolving landscape where the expectations of our customers are constantly increasing with respect to the ease of doing business with us in their channel of choice whether that is in person at one of our service locations, over the phone at our contact center, through our self-service digital offering or through a combination of these channels.”

BCAA aims to be a leader in insurance, protection, and mobility in B.C. and needs the right technology, tools, and business practices to create amazing customer experiences and continue to build strong, long-lasting relationships with their Members. Guidewire provides the versatile industry-standard platform to use as the foundation for future innovation. Using Guidewire, BCAA will be able to implement a solid core system solution that the Guidewire research and development team will keep current, so the BCAA team can focus on the agent and customer experience.

Rafferty added, “Our team is looking to enhance the experience across all aspects of the customer journey, delivering a personalized experience that enables the customer to seamlessly move through their journey in whatever form that takes. In addition, increasing the nimbleness with which innovative products and services can be brought to our customers will be critical to success in the face of disruption from digitally native competitors. We’re expecting that Guidewire will be a foundational component in helping us to achieve our customer experience goals, in addition to allowing for the implementation of improved rating models, and better overall flexibility and speed to market for new products and services.”

“We are pleased to welcome BCAA to the Guidewire customer community,” said Frank O’Dowd, Chief Sales Officer, Guidewire Software. “We look forward to helping the company leverage Guidewire to continue its mission of providing a wide range of insurance products to protect their Members and customers.”

BCAA selected InsuranceSuite, Client Data Management, Rating Management, and Reinsurance Management as its new systems for policy administration, underwriting, claims, billing, rating, and reinsurance management. The company also selected EnterpriseEngage and Guidewire for Salesforce applications to offer a seamless, omnichannel digital experience to its members, customer service representatives, and vendors. In addition, BCAA selected DataHub and InfoCenter as its enterprise-wide data management and business intelligence systems. The company plans to implement InsuranceSuite across all of its personal lines of business in British Columbia in two phases: PolicyCenter and BillingCenter during the first phase, followed by ClaimCenter.

BCAA will be accessing Guidewire products through Deloitte’s InsurCloud. InsurCloud is pre-configured for the Canadian insurance industry and leverages the power of Guidewire InsuranceSuite. It is built to increase speed to market in personal lines, farm, and small commercial, while reducing costs and risk.

“We are honored that BCAA has selected InsurCloud and Guidewire as the foundation of their business transformation. We are humbled that the company is putting its trust in Deloitte and entering into this long-term working relationship with us,” said Daniel Shum, Managing Partner, InsurCloud Solutions, Deloitte Canada. “Our InsurCloud strategic offering will be leveraged by BCAA to implement, host, and manage its solution.”

About British Columbia Automobile Association

The most trusted organization in British Columbia by its Members, BCAA serves 1 in 3 B.C. households with industry-leading products including home, car and travel insurance, roadside assistance, Evo Car Share and full automotive services at BCAA’s Auto Service Centres. BCAA has a long history focused on keeping kids safe on the road and at play through community programs such as its School Safety Patrol, Child Passenger Safety and BCAA Play Here. Please visit bcaa.com.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. ​We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 400 insurers, from new ventures to the largest and most complex in the world, run on Guidewire. ​

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.


© Business Wire 2020
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Financials (USD)
Sales 2021 730 M - -
Net income 2021 -119 M - -
Net cash 2021 1 011 M - -
P/E ratio 2021 -86,7x
Yield 2021 -
Capitalization 10 368 M 10 368 M -
EV / Sales 2021 12,8x
EV / Sales 2022 11,7x
Nbr of Employees 2 690
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 123,27 $
Last Close Price 123,73 $
Spread / Highest target 16,4%
Spread / Average Target -0,37%
Spread / Lowest Target -28,9%
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Managers
NameTitle
Mike Rosenbaum Chief Executive Officer & Director
Priscilla Hung President & Chief Operating Officer
Marcus S. Ryu Chairman
Jeff Cooper Chief Financial Officer & Vice President-Finance
Andrew William Fraser Brown Independent Director
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