About Guidewire Software (adapted from Guidewire Software prospectus):
Guidewire Software is a provider of core system software to the global property and casualty, or P&C, insurance industry. Their solutions serve as the transactional systems-of-record for a P&C insurance carrier's business: underwriting and policy administration, claims management and billing. Since its inception, Guidewire Software's mission has been to "empower P&C insurance carriers to transform and improve their businesses by replacing their legacy core systems with our innovative modern software platform".
Guidewire Software has developed an integrated suite of applications that are delivered through a web-based interface and can be deployed either on-premise or in cloud environments. Guidewire Software solutions enable extensive configurability of business rules, workflows and user interfaces without modification of the underlying code base. Their Guidewire InsuranceSuite includes Guidewire PolicyCenter, Guidewire ClaimCenter and Guidewire BillingCenter applications. According to Gartner, Inc., as of January 2011, ClaimCenter, Guidewire Software's first application, is the P&C insurance industry's most widely used web-based claims system.
Guidewire Software customers include: Tokio Marine & Nichido Fire Insurance Co., Ltd., Zurich Financial Services Group Ltd., Nationwide Mutual Insurance Company.
Guidewire Software primarily generates software license revenues through annual license fees that recur during the multi-year term of a customer's contract. The average initial length of a contract is approximately five years, and these contracts are renewable on an annual or multi-year basis. This description is adapted from Guidewire prospectus. This description is not intended to be a recommendation to buy stock from this company. To see the company's full description, view their prospectus..