Radian Selects Guidewire Solution For Underwriting, Rating, Policy Administration, Billing, And Claims Management

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc. (NYSE: RDN), and Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to Property/Casualty insurers, today announced that Radian has selected Guidewire InsuranceSuite™ as its new platform for underwriting, rating and policy administration, claims management, and billing. The company also selected Guidewire Client Data Management™ to help give it a comprehensive customer view across underwriting, policy administration, claims, and billing processes. Guidewire PartnerConnect™ alliance member, Capgemini, has been selected to lead the implementation project, with Guidewire working in close collaboration.

Radian selected Guidewire’s InsuranceSuite in order to expedite underwriting turn times, reduce complexities caused by multiple platforms, and enhance its business and technology capabilities.

“In addition to the business and IT benefits we know Guidewire InsuranceSuite will bring to us, we selected InsuranceSuite because the governing principles of how Guidewire has architected its software have remained intact since 2002,” said Lawrence DelGatto, Radian’s executive vice president and chief information officer. “We were impressed with the way that Guidewire’s software was developed which allows it to be easily customized and integrated with external partners, suppliers and other market solutions for a streamlined insurance experience.”

“We are pleased to welcome Radian to the Guidewire family as an InsuranceSuite customer,” said Dan Gordon, vice president, Product Management, Guidewire Software. “We recognize Radian’s commitment to operational speed and efficiency and look forward to helping them achieve their objectives.”

Guidewire InsuranceSuite powers the mission-critical operations of property/casualty insurers competing in today’s market. The suite was designed using a modular approach, enabling insurers to select individual applications -- Guidewire PolicyCenter®, Guidewire BillingCenter®, and Guidewire ClaimCenter® -- or a pre-integrated set, driven by their requirements and priorities. InsuranceSuite provides the flexibility insurers need to deliver insurance the way they want to, by rapidly delivering better products and service to their policyholders and agents, while improving underwriting discipline and lowering operational costs.

About Radian

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-down payment mortgages in the secondary market. Additional information may be found at www.radian.biz.

Forward-Looking Statements

Some of the statements in this press release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These forward-looking statements, which may include without limitation, projections regarding our future performance and financial condition, are made on the basis of management’s current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement. These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.

About Guidewire Software

Guidewire builds software products that help Property/Casualty insurers replace their legacy core systems and transform their business. Designed to be flexible and scalable, Guidewire products enable insurers to deliver excellent service, increase market share and lower operating costs. Guidewire InsuranceSuite™ provides the core systems used by insurers as operational systems of record. Additional products provide support for data management, business intelligence, anytime/anywhere access and guidance and monitoring. More than 150 Property/Casualty insurers around the world have selected Guidewire. For more information, please visit www.guidewire.com. Follow us on twitter: @Guidewire_PandC.

Copyright Business Wire 2010

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