Software News Sites: Guidewire Software acquires EagleEye Analytics

The Guidewire Software, Inc. (NYSE: GWRE), a provider of software products for asset / liability insurers, today announced that it has agreed to acquire EagleEye Analytics, a provider of products predictive analysis based on SaaS specifically designed for asset / liability insurance. The transaction should be completed soon. With this acquisition, Guidewire will enable its customers apply predictive analytics to make better decisions throughout the insurance life cycle. The Guidewire support the full predictive analysis process, including data preparation, model building, operational deployment, performance monitoring and analytical feedback.

EagleEye’s products will be renamed as Guidewire Predictive Analytics ™ and will be available as part of the family of data products and analyzes of Guidewire. Two predictive analysis products will be available:

Guidewire Predictive Analytics for Claims (Guidewire Predictive Analytics for Claims) addresses warranty claims management decisions as potential severity of complaints, routing and assignment of claims and identify claims with the potential for litigation / subrogation.
Guidewire Predictive Analytics for Profitability (Guidewire Predictive Analytics for Income) addresses subscription objectives and distribution, such as establishing rates and risk selection, cost reduction subscription, maximizing the value of customer life time and optimization portfolio.

“The Guidewire gives the welcome team EagleEye where their expertise in property processes / liability and data science will advance our mission to empower insurers to adapt and succeed in significant times of change, “said Marcus Ryu, CEO of Guidewire Software. “Their products, like other developed by our team of data and analysis, leverage and further differentiate the capacity of the Guidewire Insurance platform, the most widely adopted by the industry.”

“We are thrilled with the way this acquisition will allow us to serve our customers, “said Neil Betteridge, strategy vice president of Guidewire Software. “The addition of asset predictive analysis capabilities / liability to our product data and analysis will allow operators to make better and faster decisions, leading to better outcomes for insurers and policyholders.”

“This it is a very exciting day for the EagleEye team. As the leading provider of predictive analytics for insurance asset / liability, we see the union with Guidewire as ideal, “said Wade Bontrager, CEO of EagleEye Analytics and new predictive analytics vice president of Guidewire Software. “We expect to accelerate our journey to provide insurers a comprehensive predictive analytics system that reaches all the insurance life cycle and to do so as part of the Guidewire team.”

The EagleEye was selected by insurers to receive award * 2015 Vanguards in Insurance Practices in the category of predictive analysis. The EagleEye has over 30 customers insurers in North America and Europe. Nine of these customers are also Guidewire customers. The company is headquartered in Columbia, South Carolina, with offices in London, UK. A privately held company, EagleEye has the financial support of Firstmark Capital in New York.

The Guidewire Predictive Analytics will be available to insurers in the Americas, Europe, Australia and New Zealand, or independently or to complement the Guidewire PolicyCenter® or ClaimCenter.

The Guidewire does not expect this transaction to have a material impact on non-GAAP income or profitability in the third quarter or the full fiscal year 2016.

About Guidewire Software

the Guidewire provides software that property insurance / liability (P / S) need to adapt and succeed in a time of rapid industry change. We combine three elements – basic processing, data and analytics, and digital engagement – on a technology platform that improves the ability of insurers to engage and empower your customers and employees. More than 200 insurance companies P / S worldwide have already chosen Guidewire. For more information, visit www.guidewire.com. Follow us on Twitter: @Guidewire_PandC.

cautionary language regarding forward-looking statements

This press release contains “forward-looking statements” within the meaning assigned to them in terms of “safe haven” the Private Securities Litigation Reform Act of 1995, including, but not limited to, our ability to close this transaction imminently or at all, and the impact of this transaction on our future results. These forward-looking statements are made as of the date they were first issued and are based on current expectations, estimates, forecasts and projections, as well as the beliefs and assumptions of management. Words such as “expects,” “anticipates,” “should,” “believes,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “may,” “could,” “intends,” variations of these terms or similar expressions are intended to identify such forward-looking statements. forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances beyond the control of Guidewire. Today the Guidewire results may differ materially from those stated or implied in forward-looking statements due to various factors, including, but not limited to, risks detailed in the most recent Form 10-K and 10-Q Guidewire delivered to the Securities and Exchange Commission, as well as other documents that may be delivered by the company from time to time, the Securities and Exchange Commission. In particular, the following factors, among others, could cause actual results to differ materially from those expressed or implied by such forward-looking statements: the market for our software may develop more slowly than expected or than it was in the past; quarterly or annual operating results may fluctuate more than expected; seasonal variations and other related revenue recognition may cause significant fluctuations in operating results and cash flows; our dependence on sales and renewals of a relatively small number of large customers that account for a substantial portion of our revenue; our services revenues produce lower gross margins for the licensing and maintenance revenue; third-party claims that violate their intellectual property rights could substantially harm our business; a weakened global economy may adversely affect the property insurance and liability industry, including the rate of spending on information technology; our product development and sales cycles are long; the risk of losing key employees; changes in exchange rates; destabilizing events or politicians in general, including war, conflict or acts of terrorism; and other risks and uncertainties. Past performance is not necessarily indicative of future results. Forward-looking statements contained in this press release represent the perspective of Guidewire the date of such statement. The company anticipates that subsequent events and developments will bring changes to your perspective. The Guidewire undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason.

NOTE: Guidewire, Guidewire Software, Guidewire ClaimCenter, Guidewire PolicyCenter and Guidewire BillingCenter are trademarks of Guidewire Software, Inc. in the United States and / or other countries.

* Prizes 2015 Vanguards in Insurance Practices (VIP) were sponsored by Insurance Networking News and Celent.

The text in the original language of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should refer to the text in the original language, which is the only version of the text intended to have legal effect.