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Guidewire Software

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Guidewire Software, Inc.
Company typePublic
IndustryP&C Insurance Software
Founded2001; 23 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

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The company was established in 2001 and founded by: Ken Branson, James Kwak, John Raguin, and Marcus Ryu from 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 Roblox Corporation, another software company in San Mateo. Guidewire will move into and assume the remaining lease term for the Roblox headquarters at 970 Park Place, near the Franklin Templeton campus; Roblox will assume Guidewire's remaining lease term for 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

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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

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  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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