Guidewire Software

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Guidewire Software, Inc.
Company typePublic
IndustryP&C Insurance Software
Founded2001; 24 years ago (2001)
Founders
  • Marcus Ryu
  • John Seybold
  • Ken Branson
  • John Raguin
  • James Kwak
  • Mark Shaw
Headquarters
San Mateo, California
,
U.S.
Key people
  • Mike Rosenbaum (CEO)
  • Michael Keller (Chairman)
Products
  • InsuranceSuite (PolicyCenter, BillingCenter, ClaimCenter)
  • InsuranceNow
  • Analytics (Predictive Analytics, Risk Insights, Business Intelligence)
  • Guidewire Cloud
RevenueIncrease US$980 million (2024)[1]
Number of employees
3,469 (2024)[1]
Websiteguidewire.com

Guidewire Software, Inc., commonly Guidewire, is an American software company based in San Mateo, California. It offers an industry platform for property and casualty (P&C) insurance carriers in the U.S. and worldwide.[2]

History

The company was established in 2001 and founded by: Ken Branson,

Ariba (and McKinsey, where James and Marcus had met); and John Seybold and Mark Shaw from Kana Software. In September 2011, Guidewire filed with the SEC to raise up to $100 million in an initial public offering (IPO) and first publicly traded on the NYSE in January 2012.[3] Guidewire was later cited as being one of the top IPOs of 2012,[4] even #1.[5]

In 2011, Guidewire settled a patent related lawsuit with Accenture regarding their claims management software.[6]

In 2013, Guidewire acquired Millbrook, Inc., a business intelligence company.[7] In 2016, Guidewire acquired ISCS (cloud computing),[8] FirstBest (underwriting)[9] and EagleEye Analytics.[10] In 2017, Guidewire acquired Cyence, a data science and risk analytics company enabling P&C insurers to grow.[11]

On August 5, 2019, Guidewire appointed Mike Rosenbaum as CEO.[12][13]

In March 2023, Guidewire executed a sublease agreement to exchange headquarters with

Bay Meadows Station 2 at 2850 Delaware Street.[14]

The company has been cited as being among the 50 most desirable mid-size Bay Area companies (101 to 500 employees) to work for 2010-2012,[15] and was in the "Top 50 Large Companies" in Glassdoor's Best Places To Work for both 2015 and 2016.[16]

Products

Guidewire is a recurring revenue software company as it sells term licenses. The company also sells its software as a service on a subscription revenue basis. Its three main software products are ClaimCenter, PolicyCenter, and BillingCenter, each servicing a major component of a P&C insurance carrier.[2] There are a number of add-on modules, as well as an increasing number of value-added online services provided via Guidewire Analytics and Guidewire Marketplace. Guidewire also develops the Gosu programming language.

References

  1. ^ a b "FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. September 16, 2024.
  2. ^ a b "Guidewire Software, Inc". Bloomberg Businessweek. December 24, 2010. Archived from the original on October 15, 2012. Retrieved December 24, 2010.
  3. ^ "Guidewire CEO 'exhilarated' after IPO success". 25 January 2012.
  4. ^ "Bay Area's 2012 IPOs bring joy, pain". 18 December 2012.
  5. ^ Mitroff, Sarah (19 December 2012). "9 Things 2012's Lousy IPO Market Showed Us". Wired.
  6. ^ "Accenture and Guidewire Software, Inc. Settle Patent Lawsuits". 11 October 2011.
  7. ^ "Guidewire buys data management company Millbrook". www.bizjournals.com. Retrieved 2020-12-21.
  8. ^ "Guidewire to Acquire Insurance Cloud Software Firm ISCS for $160 Million". Insurance Journal. 2016-12-20. Retrieved 2020-12-21.
  9. ^ Gagliordi, Natalie. "Guidewire to acquire FirstBest to bolster industry cloud". ZDNet. Retrieved 2020-12-21.
  10. ^ Dignan, Larry. "Guidewire acquires Eagle Eye, expands analytics tools for insurers". ZDNet. Retrieved 2020-12-21.
  11. ^ "Guidewire to Acquire Cyence". www.guidewire.com. Retrieved 2022-08-16.
  12. ^ "Guidewire Appoints Mike Rosenbaum as CEO". August 5, 2019.
  13. ^ Condon, Stephanie. "Guidewire hires former Salesforce exec as new CEO". ZDNet. Retrieved 2020-05-28.
  14. ^ "Form 8-K". Guidewire Software, Inc. March 3, 2023. Retrieved 23 October 2023.
  15. ^ "bloomberg news". April 26, 2012. Archived from the original on February 2, 2014. Retrieved November 18, 2012.
  16. ^ "Glassdoor's Employees' Choice Awards 2016". December 15, 2015.
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