Guidewire Software is a leading software provider to the P&C insurance industry. On Tuesday, the company raised $115 million in its IPO by offering 8.85 million shares at $13, above the proposed range of $10 to $12. Guidewire begins trading on the New York Stock Exchange on Wednesday under the ticker symbol GWRE. J.P. Morgan, Deutsche Bank Securities and Citi are the lead underwriters on the deal, which is the first of three on the calendar this week.
Guidewire's software solutions streamline the claims management, underwriting and billing process for its 103 P&C insurance clients. Benefits include reduced claims fraud and increased underwriting accuracy. Guidewire believes the P&C insurance industry, which in large part relies on outdated paper-based systems, is at the start of a technology replacement cycle. The market opportunity is significant, with third-party software and services valued at $14.5 billion in 2010. Guidewire maintains a 0% attrition rate among customers, which include Allianz and GEICO.
Research available on newly trading technology IPO Guidewire
January 25, 2012Read more about Guidewire's business, risks and outlook.
For information on how to obtain our complete Pre-IPO research with rating and valuation model on Guidewire, please contact Renaissance Capital.
