Guidewire Software, Inc. (NYSE: GWRE), the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that Guidewire has achieved “best-in-class” status in Aite Group’s “Aite Matrix: 2020 U.S. P&C Core Systems Evaluation Report.” The report also named Guidewire as a leader for two of the four Aite Matrix components including client strength and product features.
The Aite Matrix, a proprietary Aite Group vendor assessment framework, evaluated the overall competitive position of each vendor included, focusing on vendor stability, client strength, client services, and product features. The 14 vendors evaluated in the report were required to have the ability to provide core system capabilities for P&C insurers and be able to integrate third-party data through their core system platform.
Today’s consumers are used to receiving personalized and customized experiences, and P&C insurers worldwide are being asked to provide these experiences for their policyholders, which include quicker and more accurate underwriting decisions or facilitated claims processes, for example. To make this happen, insurers increasingly rely on third-party data and on a core system that can integrate this data into various workflows.
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“Guidewire has constructed a platform that is fully capable of integrating virtually any type of data without having to customize the platform and can integrate that data into every critical component. What separates Guidewire from most other vendors is its focus on bringing robust analytics to its clients. Any carrier with an eye to the future would do well to have Guidewire as its core system provider,” said Jay Sarzen, senior analyst, Aite Group.
“Guidewire is honored to be named a “best-in-class” vendor by Aite Group,” said Brian Desmond, chief marketing officer, Guidewire Software. “We believe PolicyCenter is the most complete P&C policy system. Hundreds of insurers around the world use PolicyCenter to help them grow by launching new products quickly, provide omnichannel service to policyholders and agents, and continually innovate. I’d like to thank all of our customers who participated in this report.”
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