Guidewire Software, Inc. (NYSE:GWRE), a provider of software products to Property/Casualty (P&C) insurers, today announced that it has been named a "Market Leader" by global industry analyst firm Ovum in its report
“Ovum Decision Matrix: Selecting a P&C Insurance Policy Administration Platform – Europe, 2013–14.”
In the report, Guidewire PolicyCenter
earned high marks for its core P&C functionality, strong partner network and new large-scale deployments.
Ovum's report provides a detailed look at the competitive landscape for P&C insurance policy administration platforms for use by insurers operating in the European market. Vendors are assessed according to their market reach and influence, as well as the functionality provided by their platform's technology. According to Ovum, Guidewire meets the criteria for "Market Leader" in the P&C market due to its strong partner network in Europe and the growing number of live large-scale deployments of Guidewire PolicyCenter. The report gave PolicyCenter high marks for its core P&C functionality — thanks to advanced features such as integrated geocoding — and strong rating and billing capabilities.
“Guidewire PolicyCenter has the most significant client base among the larger tier-1 and tier-2 personal lines insurers and the highest growth rate of all vendors considered,” said Charles Juniper, author of the report and Ovum Senior Analyst, Insurance Technology. “Guidewire also has the strongest partner network both in terms of the number of trained partner consultants and partner credibility within global insurance sectors.”
“We are honored that Ovum has recognized Guidewire as a Market Leader in Europe,” said Keith Stonell, managing director EMEA, Guidewire Software. “We are focused on enhancing our presence in Europe and the global market, and Ovum’s recognition of the strides we have made in expanding outside of North America is a testament to the strength and technological capabilities of PolicyCenter and the expertise of our team.”