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Guidewire (GWRE) Marketplace Now Includes Fenris Accelerator

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Guidewire GWRE recently announced that Fenris Digital has joined its PartnerConnect program as a Solution partner. The company also announced that Fenris’ new Ready for Guidewire validated accelerator for PolicyCenter is now available in the Guidewire Marketplace.

Fenris is an innovator in insurance data sourcing. It delivers useful insights through alternative data and machine learning to insurance and financial services companies needing to understand the propensity to buy, streamline new business onboarding, helping them increase profitability.

Benefits of Fenris’ Accelerator App

Leveraging the power of data, analytics and machine learning helps transform property and casualty (P&C) insurance underwriting, augments efficiency and enhances customer experience.

Fenris’ accelerator uses repositories of more than 255 million people, 130 million households, 30 million small businesses and all properties in the United States to provide instant data on structural details, environmental hazards and replacement costs on residential and commercial property with a click within PolicyCenter.

When integrated with PolicyCenter, Fenris’ insurance data sourcing accelerator allows insurers to utilize third-party property, environment, vehicle, financial, legal, cyber and social data sources. With this, an insurer can combine data to identify customer life events and gain leads on contactability, lifetime value, propensity to buy, presence of fraud, personal financial responsibility and retention and upsell opportunities.

The app also provides useful credit insights to insurers on every applicant and policyholder, helping them understand which applicant may become the best customers. It also helps simplify the onboarding process for new businesses with pre-fill. Additionally, underwriters can quickly apply quantified insights early in the process when reviewing applications to make accurate risk assessments and improve prioritization and processing.

Thus, with the Fenris accelerator, insurers have access to actionable data insights to expedite the policy review process and respond quickly to applicants within their PolicyCenter workflows. This enables them to enhance conversion rates and more rapidly close new business.

As a Solution partner within Guidewire’s PartnerConnect program, Fenris will help fuel business value and bring innovation for insurers by developing and delivering state-of-the-art solutions for Guidewire products.
Guidewire PartnerConnect Solution partners offer software, technology and data solutions as well as insurance support services. In February, Whatfix had joined Guidewire PartnerConnect as a Solution partner.

Bright Prospects for GWRE

San Mateo, CA-based Guidewire is a leading software solutions provider for P&C insurers. With digital transformation becoming the new normal in the insurance industry, the firm’s cloud-based subscription products are witnessing traction. The company is benefiting from the robust adoption of the InsuranceSuite Cloud platform as insurers are increasingly looking to digitalize their business processes. A less competitive market and regular customer additions are other tailwinds.

As a cloud-based solution provider, Guidewire provides enhanced flexibility to adapt to changing market needs and customer expectations. The company offers omnichannel service across the entire insurance lifecycle, creates personalized customer journeys in record time and supports instant digital experiences.

A few days back, California Casualty Management Company selected InsuranceSuite on Guidewire Cloud to power its core operations and streamline IT operations. California Casualty will migrate InsuranceSuite onto Guidewire Cloud in 2022 with ClaimCenter, followed by PolicyCenter and BillingCenter. It will also migrate DataHub and InfoCenter to Guidewire Cloud as its enterprise-wide data management and analytics systems.

Guidewire currently has a Zacks Rank #3 (Hold). Shares of GWRE have lost 9.1% against the industry’s growth of 20.5% in the past year.

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Key Picks

Some better-ranked stocks from the broader technology space are Progress Software PRGS, Badger Meter BMI and Iridium Communications IRDM. While Badger Meter sports a Zacks Rank #1 (Strong Buy), Progress Software and Iridium carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Badger Meter has a projected earnings growth rate of 5.77% for 2022. The Zacks Consensus Estimate for Badger Meter’s 2022 earnings has been revised upward by 19 cents in the past 60 days.

Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and met estimates once, the average surprise being 14%. Shares of BMI have gained 5.2% in the past year.

Progress Software has a projected earnings growth rate of 3.62% for fiscal 2022. The Zacks Consensus Estimate for Progress Software’s fiscal 2022 earnings has been revised upward by 6 cents in the past 60 days. The long-term earnings growth rate of PRGS is pegged at 2%.

Progress Software’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 26.8%. Shares of PRGS have gained 2.4% in the past year.

Iridium has a projected earnings growth rate of 271.43% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by a penny in the past 90 days.

Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 4.3% in the past year.


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