Guidewire's Growing Partner Base To Boost Business Prospects
Zacks Investment Research | Aug 22, 2019 08:30AM ET
Guidewire Software, Inc. (NYSE:GWRE) recently announced that Shift Technology and Alchemy Technology Services are joining the Guidewire PartnerConnect alliance program.
As a consulting partner, Europe-based Alchemy Technology Services will enable insurers to design and deploy business-transforming strategies that reduce time-to-market considerably. We believe that Alchemy's association with PartnerConnect will expand Guidewire's presence in Europe.
Meanwhile, Shift Technology, as a Solution partner, intends to utilize Guidewire DevConnect software developer platform and design an add-on to enhance Guidewire ClaimCenter. Notably, Shift Technology’s strength in its fraud detection solution Force — which utilizes robust data science and AI capabilities to identify fraudulent claims — bodes well.
An expanding partner base in the PartnerConnect program is likely to boost the adoption of Guidewire’s offerings that is expected to drive the top line in the foreseeable future.
Moreover, the latest partners to join PartnerConnect enjoy significant exposure to insurance industry, which is a positive. In general, the integration accelerators developed by consulting and solution partners enable insurers to reduce costs, efforts and risks pertaining to the implementation of business strategies.
Markedly, with the PartnerConnect program, insurers can easily access Guidewire’s Marketplace that helps them to introduce innovative solutions and adapt to changing market demands.
These growth initiatives are instilling investors’ optimism in the stock. As a result, shares of Guidewire have gained 18.5% year to date compared with the Original post
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