Boston, MA 10/24/2013 (wallstreetpr) – The global systems software provider for insurance Guidewire Software Inc (NYSE:GWRE) has landed a sweet business deal with Catlin Group for its InsuranceSuite. Catlin is a specialty property, casualty insurer and reinsurer.
Selection of GWRE means that its innovative InsuranceSuit will now help the underwriter better go through the complexities of the industry with a lot more efficiency and perhaps enhanced profitability.
Essentially, the Suite will be help in underwriting, policy administration, billing, rating and claims management. Coming to selection of GWRE’s software solution for this complex underwriting task expressly validate GWRE as a truly best-in-class underwriter software solutions provider.
The insurer will be running this application suite for its new platform. But coming to settle on this InsuranceSuite has meant a lot of testing to ensure that it’s surely the best-in-class for such demanding environment. Basically, Catlin is seeking a platform that would help it better hit its goal of growth expansion.
So the implementation of this top of the class software is going to take place across the 20 offices of the insurer simultaneously. So it can handle the complex specialty lines with ease and also penetrate the new markets with a better supported approach. And on its part, GWRE has its revenue enhanced and this would obviously reflect in its next quarter. However, how much this contract can be expected to contribute in revenue has yet to be disclosed. But it can be nonetheless one of the sustainable enterprise software revenue for the GWRE.
GWRE’s enterprise software like InsuranceSuite exhibit great capabilities to run rich source data which is essential for decision making as well as enterprise profitability. So for growing business, GWRE takes the reputation for innovative products. Considering the growing complexity in insurance billing, policy administration and similar underwriter environments, GWRE looks poised for even better software contracts to enhance its earnings. So this is a stock that makes a lot of sense in the investment portfolio for long-term profitability.