U.S. markets open in 6 hours 35 minutes
  • S&P Futures

    3,855.50
    +7.25 (+0.19%)
     
  • Dow Futures

    31,073.00
    +60.00 (+0.19%)
     
  • Nasdaq Futures

    11,907.75
    +27.50 (+0.23%)
     
  • Russell 2000 Futures

    1,733.60
    +5.00 (+0.29%)
     
  • Crude Oil

    98.55
    +0.02 (+0.02%)
     
  • Gold

    1,742.80
    +6.30 (+0.36%)
     
  • Silver

    19.27
    +0.12 (+0.61%)
     
  • EUR/USD

    1.0210
    +0.0026 (+0.26%)
     
  • 10-Yr Bond

    2.9130
    0.0000 (0.00%)
     
  • Vix

    26.73
    -0.81 (-2.94%)
     
  • GBP/USD

    1.1955
    +0.0033 (+0.27%)
     
  • USD/JPY

    135.8880
    -0.0270 (-0.02%)
     
  • BTC-USD

    20,315.76
    +327.96 (+1.64%)
     
  • CMC Crypto 200

    441.78
    +6.25 (+1.44%)
     
  • FTSE 100

    7,107.77
    +82.30 (+1.17%)
     
  • Nikkei 225

    26,490.53
    +382.88 (+1.47%)
     

Guidewire (GWRE) to Rev Up Tradition Mutual's Automation Efforts

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·4 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Guidewire GWRE recently got selected by Tradition Mutual Insurance Company to automate and simplify the latter’s business processes.

Drawing upon more than 140 years of experience, Tradition Mutual brings safety, security and certainty to its policyowners in an unpredictable world. The company offers a wide array of insurance services like auto insurance, home insurance, commercial insurance and farm insurance.

Many small and medium-sized insurance companies face hurdles in transforming their core operations. In such a scenario, Guidewire’s in-depth experience in the Property and Casualty (P&C) insurance space and state-of-the-art platforms are leveraged by many insurance companies to transform their processes seamlessly.

Tradition Mutual chose Guidewire because the platform is stable, simple to use, flexible and updated to the latest industry standards, thereby providing longevity. Guidewire solution will simultaneously be deployed across all of Tradition Mutual’s business lines.

Guidewire will offer policy administration, underwriting, client data, rating, reinsurance, claims, billing, and enterprise-wide data management and analytics to Tradition Mutual in order to automate its processes and speed up the workflow. This will deliver an enhanced omnichannel digital experience to Tradition Mutual’s brokers, policyholders and vendors.

Tradition Mutual will deploy Guidewire in a private cloud through EY Nexus for Insurance. Being an agent-driven company, adopting cloud computing will enable Tradition Mutual’s agents and employees to implement Guidewire, irrespective of where they are.

With the help of EY’s cloud-based and managed service solution, Tradition Mutual will achieve the benefits of scale needed for disaster recovery management and business continuity. In conjunction with Guidewire’s InsuranceSuite product portfolio, which is equipped with pre-configured capabilities for the Canadian insurance industry, the solution will provide successful implementation, ongoing services, and support to Tradition Mutual, thereby fostering its transformation journey.

Prospects Bright 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 robust adoption of the InsuranceSuite Cloud platform as insurers are increasingly looking for digitalization of their business processes. Moreover, a less competitive market and regular customer additions are tailwinds.

As a cloud-based solution provider, Guidewire provides enhanced flexibility and configurability 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.

Recently, Guidewire’s InsuranceNow was selected by Lititz Mutual Insurance Company (Lititz) for enhancing its customer service and driving business growth. Lititz has selected InsuranceNow to upgrade its systems and transform the interactions between its agents and policyholders.

Guidewire currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of GWRE have lost 6.2% against industry growth of 21% in the past year.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Key Picks

Some better-ranked stocks from the broader technology space are Badger Meter BMI, NETGEAR NTGR and Iridium Communications IRDM, all of which carry a Zacks Rank #2 (Buy).

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 7% in the past year.

NETGEAR has a projected earnings growth rate of 31.46% for 2023. The Zacks Consensus Estimate for NETGEAR’s 2023 earnings has been revised downward by 7 cents in the past 90 days.

NETGEAR’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed estimates once, the average surprise being 35.5%. Shares of NTGR have plunged 40.1% 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 dropped 0.8% in the past year.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Badger Meter, Inc. (BMI) : Free Stock Analysis Report

NETGEAR, Inc. (NTGR) : Free Stock Analysis Report

Guidewire Software, Inc. (GWRE) : Free Stock Analysis Report

Iridium Communications Inc (IRDM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research