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TheStreet Open House

Guidewire Software Supports Its Customers In Serving Their Policyholders In Hurricane Sandy Aftermath

Stock quotes in this article: GWRE

Guidewire Software, Inc. (NYSE: GWRE), a leading provider of flexible core systems to Property/Casualty (P/C) insurers, today announced its commitment to supporting insurers as they respond to policyholders impacted by Hurricane Sandy.

“We extend our concern to all those impacted by the storm as they recover and rebuild their lives,” said Marcus Ryu, chief executive officer, Guidewire Software. “Our customers play a significant role in helping to rebuild the lives of those affected by catastrophes, and we are committed to supporting them in turn with core system software designed to optimize claims response in times of heightened need.”

Examples of how Guidewire is helping:

  • Guidewire ClaimCenter manages heavy claim volumes generated in a catastrophe and enables rapid mobilization of claims resources in response.
  • The Guidewire Live network now includes a prototype app helping insurers to visualize the distribution of policyholders impacted in different windspeed regions of Hurricane Sandy.
  • Guidewire core system applications are web-based, enabling insurer personnel to access them from any browser or mobile device. This helps field adjusters who are assisting policyholders with hurricane claims, attending to billing and policy related matters and aiding those displaced by the storm.

In the aftermath of Hurricane Sandy, Guidewire also announced that it is reaffirming its previously issued financial guidance. The company will issue its first quarter fiscal 2013 financial results and host a conference call after the market close on November 27, 2012. A separate press release will be issued at a later date with the associated dial-in information.

About Guidewire Software

Guidewire Software is a provider of core system software to the global Property/Casualty (general) insurance industry. Designed to be flexible and scalable, Guidewire solutions give insurers the capability to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™, consisting of Guidewire PolicyCenter®, Guidewire ClaimCenter® and Guidewire BillingCenter® spans the key functional areas in insurance – underwriting and policy administration, claims management, and billing. Guidewire is headquartered in Foster City, California, with offices in Beijing, Dublin, Hong Kong, London, Munich, Paris, Sydney, Tokyo, and Toronto. For more information, please visit www.guidewire.com.

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 our financial guidance. 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 Form 10-K filed with the Securities and Exchange Commission as well as other documents that may be filed by the Company 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: the market for our software may develop more slowly than expected or than it has in the past; quarterly and annual operating results may fluctuate more than expected; seasonal and other variations related to our revenue recognition may cause significant fluctuations in our results of operations and cash flows; our reliance on sales to and renewals from a relatively small number of large customers for a substantial portion of our revenues; our services revenues produce lower gross margins than our license and maintenance revenues; assertions by third parties that we violate their intellectual property rights could substantially harm our business; we face intense competition in our market; weakened global economic conditions may adversely affect the P&C insurance industry including the rate of information technology spending; our product development and sales cycles are lengthy; the risk of losing key employees; increased demands on employees and costs associated with operating as a public company; changes in foreign exchange rates; general political or destabilizing events, including war, conflict or acts of terrorism; 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. The Company 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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