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GUIDEWIRE SOFTWARE, INC.

(GWRE)
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Guidewire Software : CURE Auto Insurance Selects Guidewire InsuranceNow to Accelerate Speed-to-Market and Business Growth

04/29/2021 | 08:56am EDT

Mid-Atlantic non-profit auto insurer to leverage core operations and predictive analytics in the cloud

Citizens United Reciprocal Exchange (CURE), a not-for-profit full service provider of auto insurance licensed in New Jersey, Pennsylvania, and Michigan, and Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that CURE has selected InsuranceNow and Predictive Analytics to accelerate speed-to-market and business growth. The company plans to begin implementing InsuranceNow for their greenfield personal auto line of business in the state of Michigan, followed by their auto insurance lines of business in New Jersey and Pennsylvania.

“Speed-to-market was an important driver in our consideration of a new system to help facilitate our goal of expanding into new markets. InsuranceNow met all of our criteria as a scalable, highly configurable, user-friendly, and affordable system that will be able to handle that expansion,” said Douglas Benalan, chief information officer, CURE. “The cloud and all-in-one aspects of InsuranceNow were also attractive to us and critical to our decision-making, as they will help our IT staff increase their efficiency by shifting maintenance and support to Guidewire and enabling them to focus on the mission-critical business objectives that will accelerate our growth.”

Benalan added, “We were also planning to implement predictive analytics capabilities into our operations. We found Guidewire Predictive Analytics to be our best option, since it integrates well with InsuranceNow to enable our team to focus on their job instead of working on data integration.”

“We are pleased to welcome CURE to the Guidewire customer community,” said Frank O’Dowd, chief sales officer, Guidewire Software. “We admire the company’s mission of providing drivers in New Jersey, Pennsylvania, and now Michigan with auto insurance at a fair rate based on their driving records.”

About CURE Auto Insurance

Headquartered in Princeton, N.J., Citizens United Reciprocal Exchange, (CURE) is a not-for-profit reciprocal exchange. Founded in 1990 by New Jersey Insurance Commissioner James J. Sheeran and award-winning insurance expert, Dr. Lena Chang as an answer to the insurance crisis in New Jersey, CURE continues to lead the way as the not-for-profit solution for responsible drivers and the "cure" for continuously evolving auto insurance problems. CURE is currently available in New Jersey and Pennsylvania.

For more information, visit cure.com or by calling 800-535-CURE.

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.


ę Business Wire 2021
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Financials (USD)
Sales 2021 736 M - -
Net income 2021 -74,9 M - -
Net cash 2021 890 M - -
P/E ratio 2021 -123x
Yield 2021 -
Capitalization 9 160 M 9 160 M -
EV / Sales 2021 11,2x
EV / Sales 2022 10,7x
Nbr of Employees 2 816
Free-Float 99,2%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 117,27 $
Last Close Price 110,16 $
Spread / Highest target 27,1%
Spread / Average Target 6,46%
Spread / Lowest Target -20,1%
EPS Revisions
Managers and Directors
NameTitle
Mike Rosenbaum Chief Executive Officer & Director
Priscilla Hung President & Chief Operating Officer
Jeff Cooper Chief Financial Officer & Vice President-Finance
Marcus S. Ryu Chairman
Winston J. King Secretary & Chief Administrative Officer
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