Guidewire Software, Inc. (NYSE: GWRE), provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Guidewire InsuranceNow™ has been named to the Challengers quadrant in Gartner, Inc.'s “Magic Quadrant for P&C Core Insurance Platforms, North America1” for the third consecutive year.
InsuranceNow is designed for U.S. P&C insurers writing low complexity business, who may be constrained with limited IT resources and need a streamlined ready-to-go, cloud-based core solution that supports the P&C insurance lifecycle.
“Gartner continues to see strong adoption by buyers of cloud-based deployment models. Among the new customer wins for platform solutions in 2017, 70% were for cloud-based deployments. This percentage grew in 2018 to 75%.” wrote Sham Gill, senior director, analyst, Global Financial Services Industry Research and Advisory, Gartner and author of the report. “Although these percentages alone do not present a full picture, they are a clear indicator of a dramatic shift in buyer preferences in this market in favor of cloud deployment over just the past two to three years.”
“We applaud Gartner’s recognition of InsuranceNow, which we believe validates our continued focus on this segment of the insurance market,” said Mike Rosenbaum, CEO, Guidewire. “InsuranceNow is focused on the specific needs of P&C insurers writing low complexity business who need a complete core solution now.”
The report evaluated 12 vendor solutions in the P&C core platform market in North America that qualified for inclusion. Guidewire was also recognized as a Leader for InsuranceSuite based on its ability to execute and completeness of vision.
1Gartner Magic Quadrant for P&C Core Insurance Platforms, North America, Sham Gill and James Ingham, September 10, 2019
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