FOSTER CITY, Calif. - Tuesday, July 1st 2014 [ME NewsWire]
(BUSINESS WIRE)-- Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty (P/C) insurers, today announced that Guidewire PolicyCenter® has been recognized as a best-in-class solution across all four categories of CEB TowerGroup’s, Policy Administration Systems Technology Analysis, 2014report. The categories were: policy lifecycle, operational support, user experience, and enterprise support.
The CEB TowerGroup technology analysis report is designed to identify key components of a technology investment decision and effectively compare vendor technology products. The CEB TowerGroup technology analysis process provides a customer-driven, transparent, and unbiased review designed to drive informed business decisions. The Technical Analysis Extract from the report can be downloaded here.
By combining their qualitative and quantitative data from interviews with industry experts, insurers, and vendors, CEB TowerGroup analysts identified 23 attributes that define a “Best-in-Class” Policy Administration System. These attributes are grouped into four categories that highlight a firm’s user and enterprise needs. Vendor rankings are based on their proprietary five point rating methodology that scores each product on the 23 “Best-in-Class” attributes. The top vendors were designated as “Best-in-Class” performers based on their composite scores in each of the technology categories below. Guidewire PolicyCenter was named a best-in-class solution in all four report categories:
Policy Lifecycle - includes those tools that manage the lifecycle of customer policies from data input to ongoing processing.
Operational Support - includes those attributes that support adjacent functions including underwriting, product management, and distribution.
User Experience - includes those attributes that evaluate the system’s usability and its alignment to an insurer’s workflow and reporting needs.
Enterprise Support - includes those attributes that impact the technology provider’s tactical fit and strategic alignment with the insurer.
“Development in the policy administration system market is centering around user enhancements, operational efficiency, and analytics. The market is seeing particular growth towards flexibility and usability tools that enhance the experience of end users and configuration analysts,” said CEB TowerGroup research director Karen Pauli. “PolicyCenter is one of the more robust policy systems on the market, and on an overall basis scored highly among the 15 systems we reviewed.”
“We appreciate CEB TowerGroup analysts comprehensive review of the policy administration system landscape and the identification of those factors that truly determine best-in-class solutions for insurers,” said Brian Desmond, vice president, Marketing, Guidewire Software. “We thank the CEB TowerGroup analysts for their recognition of PolicyCenter’s strength and depth, as well as our commitment to innovation.”
Technology Assessment Disclaimer
CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated “best in class.” CEB TowerGroup research publications consist of the opinions of CEB TowerGroup’s analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Guidewire Software
Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.
NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter, Guidewire BillingCenter, Guidewire InsuranceSuite, Guidewire PartnerConnect, Guidewire SolutionConnect, Guidewire Live, Live Inside, Before & After, Claim Canvas, Viewpoint, Deliver Insurance Your Way, and the Guidewire logo are trademarks, service marks, or registered trademarks of Guidewire Software, Inc. in the United States and/or other countries.
Guidewire Software, Inc.
Diana Stott, +1 650-356-4941