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Guidewire (GWRE)-Wipro Ally to Rev Up Insurer's Digital Journey

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Guidewire GWRE recently announced that Wipro WIT joined its PartnerConnect program as a Consulting alliance member at the Select level for the Americas, EMEA and APAC regions.

Headquartered in India, Wipro is a leading global information technology, consulting and business process services company. Wipro provides industry-leading, next-generation digital and consulting services to enable clients to successfully steer through their digital transformation. Leveraging the power of cognitive computing, analytics, hyper-automation, robotics, cloud and emerging technologies, Wipro enables clients to adapt to the digital world and makes them successful.

Both the companies are highly optimistic about this alliance. Wipro has proven consulting and implementation prowess in Guidewire’s InsuranceSuite product portfolio. Banking upon its in-depth experience in Property and Casualty (P&C) insurance and state-of-the-art platforms, Wipro will help insurers innovate and develop customized solutions with quality and cost-efficiency, deploying Guidewire products and cloud transformations, thereby accelerating their digital journeys.

Wipro will deliver powerful, comprehensive technology solutions and cloud and system integration services to insurers in Guidewire Cloud to transform business processes, expedite time to market, and fuel operational excellence.

Further, as a Select partner within Guidewire’s PartnerConnect program, Wipro will continue investing in a dedicated Guidewire Center of Excellence aimed at helping clients rapidly adopt transformation initiatives that offer measurable business benefits. This will bring extensive insurance domain experience and digital expertise, which along with a co-innovation approach, will deliver enhanced value to clients implementing Guidewire products.

For Guidewire, this collaboration will rev up the implementation of its ambitious roadmap for Guidewire Cloud Platform and the opportunities it will bring to insurers.

Guidewire PartnerConnect Consulting partners provide consulting services, implementation and related solution and delivery services. A few days back, Infosys had joined Guidewire PartnerConnect as a Consulting alliance member at the Select level for the Americas. Prior to that, Whatfix had joined Guidewire PartnerConnect as a Solution partner.

Flourishing 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. Moreover, 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). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of GWRE have lost 18.9% against the industry’s growth of 9.9% in the past year.

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Zacks Investment Research


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Key Picks

Some better-ranked stocks from the broader technology space include Progress Software PRGS and Badger Meter BMI, both of which sport a Zacks Rank #1.

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 lost 3.4% in the past year.

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 dropped 9% in the past year.


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

Wipro Limited (WIT) : Free Stock Analysis Report

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

Progress Software Corporation (PRGS) : Free Stock Analysis Report

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