Latest news with #GuidewireClaimCenter
Yahoo
2 days ago
- Business
- Yahoo
Co-operators moves to Guidewire cloud for claims management
Canadian multi-line insurer Co-operators has migrated its Guidewire ClaimCenter to the Guidewire Cloud Platform, aiming to enhance the company's claims management capabilities. The transition encompasses most of Co-operators' property and casualty (P&C) lines of business across the provinces it operates in. It also includes the transition of its subsidiary, Sovereign Insurance, into the same cloud-based system. This follows the migration of Co-operators' Guidewire PolicyCenter and Guidewire BillingCenter to the Guidewire Cloud Platform earlier in 2023. Co-operators chief information officer and executive vice-president Harry Pickett said: 'This was a multi-year transformation for Co-operators, a successful result of collaboration across our P&C Business and Technology teams and Guidewire. We leveraged our learnings from our previous PolicyCenter and BillingCenter migration to accomplish this modernisation on time and with little disruption to our claims process. 'The full suite on the Guidewire Cloud Platform provides us with more stability and security, and establishes a solid foundation for future enhancements, enabling us to be faster in implementing new features and capabilities that will deliver value to our stakeholders.' The organisation has been a client of Guidewire since 2007. Guidewire professional services head Michael Mahoney stated: 'We congratulate Co-operators on its successful ClaimCenter implementation project on Guidewire Cloud Platform and concluding its full InsuranceSuite migration. We look forward to working with the company to grow its business and continue providing financial security for Canadians and their communities, as it has done for the past 80 years.' Last month, Argentine insurer San Cristóbal Seguros deployed Guidewire InsuranceSuite on Guidewire Cloud. "Co-operators moves to Guidewire cloud for claims management " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
22-04-2025
- Business
- Yahoo
Global Insurance Technology Leader Guidewire to Invest $60 Million to Accelerate Insurance Innovation and Cloud Transformation in Japan
Investment will enhance the market-leading Guidewire Platform and expand the company's team and ecosystem in Japan, enabling insurers to drive profitable growth, agility, and regulatory compliance TOKYO & SAN MATEO, Calif., April 22, 2025--(BUSINESS WIRE)--Guidewire today announced a $60 million investment over the next five years to expand its operations in Japan and accelerate the delivery of capabilities tailored to the unique needs of Japanese insurers. This investment will enhance Guidewire's platform, empowering Japanese insurers to drive profitable growth, increase business and IT agility, ensure regulatory compliance, and support the growth of the company's local team and ecosystem to meet rising demand for cloud-based core systems. The investment builds on Guidewire's momentum in Japan. Operating in Japan since 2008, Guidewire is trusted by more than 10 Japanese insurance companies, including Tier 1 insurers. Today, more than 60% of Japan's insurance gross written premium (GWP) is processed through Guidewire ClaimCenter, underscoring the company's market leadership and deep alignment with customer needs. Guidewire also announced enhancements to its PolicyCenter and BillingCenter products to better support Japanese insurers. Key new features include policy change reversals, proration, and effective time, along with localized support for Japanese language, documentation, and training. Additional capabilities tailored to the Japanese market are underway, including pre-built integrations for personal auto (available mid-2026) and expanded features for homeowner, earthquake, and commercial group policies planned for 2027. "Guidewire is honored to have earned the trust of Japanese insurers by delivering the most comprehensive claims platform specifically tailored to their unique needs," said Mike Rosenbaum, Chief Executive Officer at Guidewire. "Over the next five years, we plan to invest more than $60 million to enhance our end-to-end cloud platform in Japan with powerful innovations like AI—helping our customers boost underwriting precision, accelerate speed to market, and operate with increasing agility." "Japan is a key market for Guidewire, and we are committed to helping our customers transform their operations to stay competitive in an evolving landscape," said Shaji Sethu, Senior Vice President and Managing Director, Asia Pacific at Guidewire. "With increasing regulatory pressure and the challenges of legacy systems weighing heavily on Japanese insurers, we remain focused on supporting their successful migration to the cloud. Our goal is to drive measurable improvements in speed-to-market, underwriting effectiveness, and operational efficiency, empowering insurers to meet the rising expectations of both customers and regulators. We plan to do this by growing our team in Japan." Guidewire Insurance Forum in Tokyo Guidewire will host its annual Insurance Forum on Tuesday, May 13, at the Ritz-Carlton, Tokyo. The event will explore cloud adoption in Japan, highlight global trends shaping the insurance industry, and feature insights from current customers. Learn more and register for the forum at the event website. About Guidewire Software Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurance brands in 42 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers. We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest solution partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation. For more information, please visit and follow us on X (formerly known as Twitter) and LinkedIn. NOTE: For information about Guidewire's trademarks, visit Cautionary Language Concerning Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the general availability of features, programs, services, and tools related to enhancements for the Japan market mentioned in this press release (including, without limitation, Guidewire PolicyCenter, Guidewire BillingCenter, policy change reversals, proration, effective time, and common integrations for the personal auto line of business, homeowner and earthquake lines of business, and group policy for the commercial line of business). These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Guidewire's control. Guidewire's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Guidewire's most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission as well as other documents that may be filed by Guidewire from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: quarterly and annual operating results may fluctuate more than expected; seasonal and other variations related to our customer agreements and related revenue recognition may cause significant fluctuations in our results of operations, Annual Recurring Revenue ("ARR"), and cash flows; our reliance on sales to and renewals from a relatively small number of large customers for a substantial portion of our revenue and ARR; our making long-term pricing commitments in our customer contracts based on available information and estimates about our future costs that may change; our ability to successfully manage our business model, including achieving market acceptance of our cloud-based services and products and the costs related to cloud operations, cybersecurity, product development, and services; the timing, success, and number of professional services engagements and the billing rates and utilization of our professional services employees and contractors; the impact of global events (including, without limitation, ongoing global conflicts, inflation, high interest rates, economic volatility, bank failures and associated financial instability, and supply chain issues) on our employees, our business, and the businesses of our customers, system integrator ("SI") partners, and vendors; data security breaches of our cloud-based services and products or unauthorized access to our employees' or our customers' data; our competitive environment and changes thereto; issues in the development and use of artificial intelligence and machine learning combined with an uncertain regulatory environment; use of AI by our workforce may present risks to our business; errors or failures in our products or services, as well as service interruptions or failure of the third-party service providers we rely on; our services revenue produces lower gross margins than our license, subscription and support revenue; our product development and sales cycles are lengthy and may be affected by factors outside of our control; the impact of new regulations and laws (including, without limitation, security, privacy, artificial intelligence and machine learning, tax regulations and laws, and accounting standards); assertions by third parties that we violate their intellectual property rights; weakened global economic conditions may adversely affect the P&C insurance industry, including the rate of information technology spending; our ability to sell our services and products is highly dependent on the quality of our professional services and SI partners; the risk of losing key employees; the challenges of international operations, including changes in foreign exchange rates; and other risks and uncertainties. Past performance is not indicative of future results. The forward-looking statements included in this press release represent Guidewire's views as of the date of this press release. Guidewire anticipates that subsequent events and developments will cause its views to change. Guidewire undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Guidewire's views as of any date subsequent to the date of this press release. View source version on Contacts Albert LinPublic Relations ManagerGuidewire Software, Inc.+1-415-205-4214allin@ Sign in to access your portfolio
Business Wire
22-04-2025
- Business
- Business Wire
Global Insurance Technology Leader Guidewire to Invest $60 Million to Accelerate Insurance Innovation and Cloud Transformation in Japan
TOKYO & SAN MATEO, Calif.--(BUSINESS WIRE)--Guidewire today announced a $60 million investment over the next five years to expand its operations in Japan and accelerate the delivery of capabilities tailored to the unique needs of Japanese insurers. This investment will enhance Guidewire's platform, empowering Japanese insurers to drive profitable growth, increase business and IT agility, ensure regulatory compliance, and support the growth of the company's local team and ecosystem to meet rising demand for cloud-based core systems. The investment builds on Guidewire's momentum in Japan. Operating in Japan since 2008, Guidewire is trusted by more than 10 Japanese insurance companies, including Tier 1 insurers. Today, more than 60% of Japan's insurance gross written premium (GWP) is processed through Guidewire ClaimCenter, underscoring the company's market leadership and deep alignment with customer needs. Guidewire also announced enhancements to its PolicyCenter and BillingCenter products to better support Japanese insurers. Key new features include policy change reversals, proration, and effective time, along with localized support for Japanese language, documentation, and training. Additional capabilities tailored to the Japanese market are underway, including pre-built integrations for personal auto (available mid-2026) and expanded features for homeowner, earthquake, and commercial group policies planned for 2027. 'Guidewire is honored to have earned the trust of Japanese insurers by delivering the most comprehensive claims platform specifically tailored to their unique needs,' said Mike Rosenbaum, Chief Executive Officer at Guidewire. 'Over the next five years, we plan to invest more than $60 million to enhance our end-to-end cloud platform in Japan with powerful innovations like AI—helping our customers boost underwriting precision, accelerate speed to market, and operate with increasing agility.' 'Japan is a key market for Guidewire, and we are committed to helping our customers transform their operations to stay competitive in an evolving landscape,' said Shaji Sethu, Senior Vice President and Managing Director, Asia Pacific at Guidewire. 'With increasing regulatory pressure and the challenges of legacy systems weighing heavily on Japanese insurers, we remain focused on supporting their successful migration to the cloud. Our goal is to drive measurable improvements in speed-to-market, underwriting effectiveness, and operational efficiency, empowering insurers to meet the rising expectations of both customers and regulators. We plan to do this by growing our team in Japan.' Guidewire Insurance Forum in Tokyo Guidewire will host its annual Insurance Forum on Tuesday, May 13, at the Ritz-Carlton, Tokyo. The event will explore cloud adoption in Japan, highlight global trends shaping the insurance industry, and feature insights from current customers. Learn more and register for the forum at the event website. About Guidewire Software Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurance brands in 42 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers. We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest solution partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation. For more information, please visit and follow us on X (formerly known as Twitter) and LinkedIn. NOTE: For information about Guidewire's trademarks, visit Cautionary Language Concerning Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the general availability of features, programs, services, and tools related to enhancements for the Japan market mentioned in this press release (including, without limitation, Guidewire PolicyCenter, Guidewire BillingCenter, policy change reversals, proration, effective time, and common integrations for the personal auto line of business, homeowner and earthquake lines of business, and group policy for the commercial line of business). These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as 'expect,' 'anticipate,' 'should,' 'believe,' 'hope,' 'target,' 'project,' 'goals,' 'estimate,' 'potential,' 'predict,' 'may,' 'will,' 'might,' 'could,' 'intend,' variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Guidewire's control. Guidewire's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Guidewire's most recent Forms 10-K and 10-Q filed with the Securities and Exchange Commission as well as other documents that may be filed by Guidewire from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: quarterly and annual operating results may fluctuate more than expected; seasonal and other variations related to our customer agreements and related revenue recognition may cause significant fluctuations in our results of operations, Annual Recurring Revenue ('ARR'), and cash flows; our reliance on sales to and renewals from a relatively small number of large customers for a substantial portion of our revenue and ARR; our making long-term pricing commitments in our customer contracts based on available information and estimates about our future costs that may change; our ability to successfully manage our business model, including achieving market acceptance of our cloud-based services and products and the costs related to cloud operations, cybersecurity, product development, and services; the timing, success, and number of professional services engagements and the billing rates and utilization of our professional services employees and contractors; the impact of global events (including, without limitation, ongoing global conflicts, inflation, high interest rates, economic volatility, bank failures and associated financial instability, and supply chain issues) on our employees, our business, and the businesses of our customers, system integrator ('SI') partners, and vendors; data security breaches of our cloud-based services and products or unauthorized access to our employees' or our customers' data; our competitive environment and changes thereto; issues in the development and use of artificial intelligence and machine learning combined with an uncertain regulatory environment; use of AI by our workforce may present risks to our business; errors or failures in our products or services, as well as service interruptions or failure of the third-party service providers we rely on; our services revenue produces lower gross margins than our license, subscription and support revenue; our product development and sales cycles are lengthy and may be affected by factors outside of our control; the impact of new regulations and laws (including, without limitation, security, privacy, artificial intelligence and machine learning, tax regulations and laws, and accounting standards); assertions by third parties that we violate their intellectual property rights; weakened global economic conditions may adversely affect the P&C insurance industry, including the rate of information technology spending; our ability to sell our services and products is highly dependent on the quality of our professional services and SI partners; the risk of losing key employees; the challenges of international operations, including changes in foreign exchange rates; and other risks and uncertainties. Past performance is not indicative of future results. The forward-looking statements included in this press release represent Guidewire's views as of the date of this press release. Guidewire anticipates that subsequent events and developments will cause its views to change. Guidewire undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Guidewire's views as of any date subsequent to the date of this press release.
Yahoo
05-02-2025
- Business
- Yahoo
Markel moves to Guidewire Cloud for claims management
Markel has migrated its Guidewire ClaimCenter system to Guidewire Cloud for its specialty lines of business in the US. Through this move, the insurer is looking to modernise its claims management and IT operations. The migration was led by PwC, a Guidewire PartnerConnect Consulting Global Strategic member. Markel also announced the movement of Guidewire BillingCenter to the cloud and Markel International tapped ClaimCenter for managing claims within its international wholesale division. Markel has been a Guidewire client for many years. The company deployed Guidewire Compare and Guidewire Explore as part of its migration project. The aim is to monitor claims performance, assess it against industry peers with secure, anonymised data, and enhance operational efficiency across the organisation. Markel chief information officer Morris Taylor said: 'Migrating ClaimCenter onto Guidewire Cloud enables us to automate and transfer system maintenance and updates to Guidewire so our teams can increase their focus on delivering value to our customers and partners. 'Thanks to the exceptional collaboration between our team, PwC and Guidewire, which built on the change management and business readiness plans in place, the migration project was a success. Looking ahead, we are excited to explore the full potential of the Guidewire Analytics capabilities available on Guidewire Cloud and quicker access to best-in-class insurtech solutions that are part of the Guidewire Marketplace and the PartnerConnect ecosystem." Guidewire professional services senior vice-president Michael Mahoney stated: "We congratulate Markel on its successful ClaimCenter migration onto Guidewire Cloud, and we look forward to helping the company continue its mission of creating tailored coverage solutions for even the most complex needs and being there for people when they need them the most." This follows the recent reorganisation of Markel's US professional liability portfolio. The portfolio has been divided into four distinct pillars – management liability, errors and omissions, cyber and financial institutions. "Markel moves to Guidewire Cloud for claims management " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
04-02-2025
- Business
- Yahoo
Markel Implements Guidewire Cloud to Modernize Claims and IT Operations
Specialty insurer also planning to migrate Guidewire BillingCenter to the cloud; selects Guidewire ClaimCenter for its International Wholesale operation RICHMOND, Va. and SAN MATEO, Calif., Feb. 4, 2025 /PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), and Guidewire (NYSE: GWRE) announced that Markel successfully migrated Guidewire ClaimCenter from an on-premise environment to Guidewire Cloud to power and simplify its claims and IT operations. The company implemented ClaimCenter on Guidewire Cloud for its specialty lines of business across its US operations. Guidewire PartnerConnect Consulting Global Strategic member PwC led the implementation project. Markel also recently selected Guidewire BillingCenter for migration onto Guidewire Cloud, while Markel International selected ClaimCenter as its new system for claims management within its International Wholesale operation. "Migrating ClaimCenter onto Guidewire Cloud enables us to automate and transfer system maintenance and updates to Guidewire so our teams can increase their focus on delivering value to our customers and partners," said Markel Chief Information Officer Morris Taylor. "Our successful transition to Guidewire Cloud underscores our confidence in Guidewire's cloud-based offering and innovations. Thanks to the exceptional collaboration between our team, PwC and Guidewire, which built on the change management and business readiness plans in place, the migration project was a success. Looking ahead, we are excited to explore the full potential of the Guidewire Analytics capabilities available on Guidewire Cloud and quicker access to best-in-class insurtech solutions that are part of the Guidewire Marketplace and the PartnerConnect ecosystem." "The successful implementation of Guidewire ClaimCenter, combined with the migration to Guidewire Cloud, not only modernizes our claims organization, but improves the customer experience, making it faster and easier to process claims for our clients," said Markel Chief Claims Officer Jamie Carsey. "The migration also gives us access to improved data and insights to help us drive business decisions, providing an overall better experience for everyone." "In today's fast-paced and interconnected world, clients and their brokers expect their insurance partner to be able to assess and settle claims in a timely manner," said Markel International Managing Director – Claims Chris O'Shea. "We're therefore delighted to be collaborating with Guidewire to implement ClaimCenter across our International Wholesale platform. This tool reflects our long-term commitment to continue to invest in our future through innovative technologies, in order to drive operational efficiency and enhance services and response times for clients globally. Implementing Guidewire ClaimCenter will further enhance our ability to deliver a timely, clear and consistent service throughout the claims lifecycle." "We are thrilled to have collaborated with Markel on their successful transition of ClaimCenter to the cloud," said PwC Global & US Guidewire Alliance Leader Imran Ilyas. "This move not only enhances their operational agility but also positions them to seamlessly integrate cutting-edge solutions, providing their clients with real-time capabilities and facilitating the rapid implementation of new technologies." "We thank Markel for entrusting Guidewire Cloud as the technology foundation for its business strategy and success now and into the future, beginning with the enhancement of its claims operations," said Guidewire Senior Vice President of Professional Services Michael Mahoney. "We congratulate Markel on its successful ClaimCenter migration onto Guidewire Cloud, and we look forward to helping the company continue its mission of creating tailored coverage solutions for even the most complex needs and being there for people when they need them the most." Markel has been a long-standing Guidewire customer. As part of the ClaimCenter migration project, Markel also implemented Guidewire Compare and Guidewire Explore to continuously monitor the company's claims performance and compare it against industry peers with aggregated, anonymized, and secure claims benchmark data, as well as to improve operational efficiency across the organization. About Markel We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. For more information, please visit: About PwC At PwC, our purpose—to build trust in society and solve important problems—is at the core of everything we do. It guides how we serve our clients, our people and the world. To help our clients build trust and deliver sustained outcomes, PwC provides professional services across two segments: Trust Solutions and Consulting Solutions. Within these segments we bring a range of capabilities to help organizations solve faster, solve more and realize more value. These capabilities include cloud and digital, deals, ESG, cybersecurity and privacy, governance/boards, risk, transformation, tax services and much more. Across our global network of nearly 328,000 professionals in 152 countries, we are committed to advancing quality in everything we do. About Guidewire Software Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. More than 570 insurers in 42 countries, from new ventures to the largest and most complex in the world, rely on Guidewire products. With core systems leveraging data and analytics, digital, and artificial intelligence, Guidewire defines cloud platform excellence for P&C insurers. We are proud of our unparalleled implementation record, with 1,700+ successful projects supported by the industry's largest R&D team and SI partner ecosystem. Our marketplace represents the largest solution partner community in P&C, where customers can access hundreds of applications to accelerate integration, localization, and innovation. For more information, please visit and follow us on X (formerly known as Twitter) and LinkedIn. NOTE: For information about Guidewire's trademarks, visit View original content to download multimedia: SOURCE Markel Sign in to access your portfolio
