Guidewire (NYSE: GWRE) announces Jasper, its latest release,
which boosts commercial lines agility for P&C insurers with
support for layered coinsurance, schedule import, and a new U.S.
Bureau Content Solution.* Additionally, expanded HazardHub data for
Canada gives insurers deeper property risk insights for
underwriting precision. Jasper release will be generally available
on April 5, 2024.
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the full release here:
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“Commercial lines insurers face both risk and opportunity. On
the one hand, there are economic fluctuations, including inflation,
geopolitical complexities, capital limitations, and environmental
challenges. On the other hand, the protection gap creates growth
opportunities for insurers that innovate to stay ahead of the
evolving risk landscape,” said Eugene Lee, senior vice president
and general manager, InsuranceSuite, Guidewire.
For P&C insurers seeking to improve commercial lines
efficiency, Jasper enables faster policy issuance and processing
through its flexible, cloud-based platform designed specifically
for commercial lines. Enhancements in Jasper include:
- Layered coinsurance reduces risk exposure by structuring
risk sharing for non-layered and layered coinsurance arrangements
in PolicyCenter and automatically generates all necessary splits
and charges in BillingCenter.
- Schedule import, a new flexible import wizard in
PolicyCenter, empowers underwriters and agents to capture more
commercial lines business by allowing them to upload and
automatically import spreadsheets containing fleet vehicle/driver
details and building information.
- A new U.S. Bureau Content Solution* enables insurers to
maintain regulatory compliance and stay current with the latest
rates, rules, and forms by providing continuously updated
commercial lines content from ISO (Insurance Services Office,
Inc.), NCCI (National Council on Compensation Insurance), and state
workers’ compensation bureaus. The solution accelerates the launch
of bureau-compliant commercial lines while eliminating the
challenges of managing the circular update process.
Jasper continues Guidewire’s investment in making enhancements
across its platform. Expanded HazardHub Canada data
now gives underwriters and actuaries even deeper insight into
property risks with 11 new risk factors, including wildfire scores,
and 100 new data elements.
For more details about these and all the other new capabilities
Jasper delivers, visit www.guidewire.com/Jasper.
*Indicates product feature is available for Early Access
customers only.
About Guidewire
Guidewire is the platform P&C insurers trust to engage,
innovate, and grow efficiently. We combine digital, core,
analytics, and machine learning to deliver our platform as a cloud
service. More than 540 insurers in 40 countries, from new ventures
to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable
their success. We are proud of our unparalleled implementation
track record, with 1,600+ successful projects, supported by the
largest R&D team and partner ecosystem in the industry. Our
marketplace provides hundreds of applications that accelerate
integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow
us on X (formerly known as Twitter) and LinkedIn.
NOTE: For information about Guidewire’s trademarks, visit
https://www.guidewire.com/legal-notices/. All products mentioned in
this announcement are Guidewire products. Not all products are
available in every geography or to self-managed customers. Any
unreleased services or features referenced in this, or other press
releases or public statements are not currently available and may
not be delivered on time or at all. Customers who purchase
Guidewire applications should make their purchase decisions based
upon features that are currently available.
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 Jasper mentioned in this
press release (including, without limitation layered coinsurance,
schedule import, U.S. Bureau Content Solution, and HazardHub).
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, 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 ability to successfully manage any changes to
our business model, including the transition of our products to
cloud offerings and the costs related to cloud operations and
security; the timing, success, and number of professional services
engagements and the billing rates and utilization of our
professional services employees and contractors; recent global
events (including, without limitation, the ongoing wars between
Israel and Hamas and between Russia and Ukraine, escalating
tensions in the South China Sea, high inflation, global pandemics,
bank failures and associated financial instability and crises, and
supply chain issues) and their impact on our employees and our
business and the businesses of our customers, system integrator
(“SI”) partners, and vendors; data
security breaches of our cloud-based services or products or
unauthorized access to our 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; 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; general political or destabilizing events,
including war, conflict or acts of terrorism; our ability to sell
our 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 in countries such as Argentina; and other
risks and uncertainties. Past performance is not necessarily
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240328607054/en/
Melissa Cobb, Senior Public Relations Manager Guidewire Software
+1 650-464-1177 mcobb@guidewire.com
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