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GUIDEWIRE SOFTWARE, INC.

(GWRE)
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Guidewire Software : VRC Investigations' Integration for Investigative and SIU Services Now Available in Guidewire Marketplace

04/27/2021 | 08:49am EDT

VRC Investigations (VRC), a leading national insurance defense investigation firm and Guidewire PartnerConnect Solution partner, and Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that VRC's new Ready for Guidewire validated add-on is now available to ClaimCenter users in the Guidewire Marketplace.

Insurance fraud is a prominent challenge insurers face. The Coalition Against Insurance Fraud estimates that fraud occurs in about 10 percent of P&C insurance industry losses. To help insurers mitigate this high level of fraud, VRC is committed to serving as a partner to its clients and delivering full service, custom investigative services, and investigation management solutions.

VRC works with each client to develop customized investigative programs that are executed by its team of directly employed, highly experienced, licensed investigators nationwide. VRC's Investigation Management System (IMS) provides clients with a dynamic, centralized system to manage investigations with high levels of data security. With IMS, insurers can save time, increase efficiency, and streamline operations, whether they are handling one investigation or many. VRC's Guidewire integration facilitates a secure connection to IMS, enabling quick access and usage for Guidewire users.

With VRC's integration for ClaimCenter, insurers can:

  • Easily make investigative referrals directly within ClaimCenter;

  • Save time and resources through automatically pre-filled claim data; and

  • Receive status updates and supporting service documents and reports from VRC within Guidewire.

'Our integration with Guidewire saves our customers time and improves efficiency. Guidewire's ClaimCenter clients can now access VRC for investigative referrals, status updates, and more, all with a single click,' said Greg James, president and chief operating officer, VRC Investigations. 'As more clients rely on Guidewire's core software applications to transform their operations, they can rely on VRC to deliver the facts that bring certainty to claims decisions.'

'We congratulate VRC on the release of its add-on for investigative and SIU services for ClaimCenter,' said Neil Betteridge, vice president, Strategy, Guidewire Software. 'With the prevalence of fraud in P&C insurance, insurers often have their hands full with numerous ongoing claims investigations. VRC's integration delivers a centralized system, accessed easily by our shared customers, to help them manage all aspects of their VRC-run investigations.'

About VRC Investigations Services

VRC Investigations is a leading national provider of investigative and insurance fraud solutions with hundreds of local, directly employed, licensed investigators. VRC's unique, single-source solution meets the investigative, SIU, regulatory compliance and claim defense needs of any insurer. Founded in 1995, VRC's clients include leading insurance carriers, employers, third party administrators, law firms, government agencies, captives and pools. Data-driven and results focused, VRC Investigations uncovers the facts that bring certainty to claims decisions. Learn more at https://vrcinvestigations.com.

About Guidewire PartnerConnect ecosystem and Ready for Guidewire

Guidewire PartnerConnect Solution partners provide software, technology, and data solutions as well as insurance support services. Our Solution partners help drive business value and innovation for insurers by developing and delivering integrations, extensions, apps, and other complementary solutions for Guidewire products. All of our Ready for Guidewire partner solutions are validated for security, quality, and compatibility with Guidewire, and can be found on theGuidewire Marketplace.

For more information about Guidewire PartnerConnect, please visithttp://www.guidewire.com/partners.

Disclaimer

Guidewire Software Inc. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 12:48:06 UTC.


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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 -127x
Yield 2021 -
Capitalization 9 417 M 9 417 M -
EV / Sales 2021 11,6x
EV / Sales 2022 11,0x
Nbr of Employees 2 816
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 117,00 $
Last Close Price 113,25 $
Spread / Highest target 23,6%
Spread / Average Target 3,31%
Spread / Lowest Target -22,3%
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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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