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

GUIDEWIRE SOFTWARE, INC.

(GWRE)
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Guidewire Software : Trillium Mutual Insurance Company Selects Guidewire for Business Innovation and Growth

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09/25/2020 | 09:56am EDT

Ontario agri-business mutual insurer to leverage Guidewire to enable digital transformation, deliver service excellence, and accelerate product launches

Trillium Mutual Insurance Company, an agri-business mutual insurer based out of Listowel, Ontario, and Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that Trillium Mutual has selected Guidewire to enable digital transformation, deliver service excellence, and accelerate product launches.

By implementing Guidewire’s leading-edge industry platform, Trillium Mutual will be able to ensure that it is in step with the majority of the Canadian P&C industry and build upon its commitment to push for innovation in all areas of its business. The company will also be able to continue providing the exceptional service and commitment to mutuality that its partners and members have come to expect in a rapidly-changing insurance marketplace, from digitally interfacing with partners for policy changes and new business to providing easy access to its members during a claim.

“Through reduced speed-to-market of new products and technologies, the introduction of new levels of efficiency and automation through guided workflows based on industry-validated best practices, and the proliferation of Guidewire in the Canadian P&C industry, we expect to see an enhanced ease of doing business with our broker partners to help them continue to service their clients – our members – with an emphasis on having the right products available when they need it,” said Tracy MacDonald, president and chief executive officer, Trillium Mutual. “We are also excited by the opportunities to take advantage of Guidewire’s digital approach and integrate with the best-in-class insurtech solution partners that are a part of the PartnerConnect ecosystem to achieve our business imperatives.”

Mathieu Savage, manager, Information Systems and Innovation, said, “From the workflows in InsuranceSuite, the ease of accessing our own data in DataHub, and the digital enablement for our brokers provided by ProducerEngage, Guidewire is a truly end-to-end platform that will not only facilitate the completion of our core business operations, but also elevate them to a new standard of excellence. Also, leveraging Guidewire in the cloud will allow us to service our partners and members throughout the insurance business lifecycle.”

“We are pleased to welcome Trillium Mutual Insurance Company 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 offering insurance solutions that give its members peace of mind for life’s unexpected events.”

Trillium Mutual selected InsuranceSuite, Client Data Management, and Rating Management as its new systems for policy administration, underwriting, claims, billing, and rating management. In particular, Guidewire’s investment in research and development gave the insurer confidence during the selection process that the company will be a true partner for policy administration capabilities. Trillium Mutual also selected ProducerEngage and VendorEngage to offer a seamless, omnichannel digital experience to its customer service representatives and vendors. In addition, the company selected DataHub and InfoCenter as its enterprise-wide data management and business intelligence systems. Trillium Mutual plans to implement all of the products simultaneously across all of its lines of business in the province of Ontario through a Guidewire PartnerConnect Consulting partner cloud platform, with the partner providing implementation, ongoing services, and support.

About Trillium Mutual Insurance Company

The roots of our organization began 140 years ago. Trillium Mutual was established on January 1, 2004 as a result of an amalgamation between Formosa Mutual Insurance Company (established in 1880) and Elma Mutual Insurance Company (1884). The dynamic of this evolution is an organization that recognizes the value of the past, present, and future. Our Board of Directors and all of our staff are dedicated to sound corporate governance and being leaders in our industry. At Trillium Mutual Insurance we develop insurance solutions for people, not profits. We are rooted in the idea that through partnerships we can give people peace of mind for life’s unexpected events. Ultimately, we are accountable to our members and their communities in everything we do. We are in this together! We are built on the values of the past and look forward to implementing them for the future. To learn more about Trillium Mutual Insurance Company please visit our website at www.trilliummutual.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. As of the end of our fiscal year 2019, more than 380 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 -69,8x
Yield 2021 -
Capitalization 8 311 M 8 311 M -
EV / Sales 2021 9,99x
EV / Sales 2022 9,12x
Nbr of Employees 2 690
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 123,27 $
Last Close Price 99,56 $
Spread / Highest target 44,6%
Spread / Average Target 23,8%
Spread / Lowest Target -11,6%
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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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