Sompo Group (OTC:SMPNY) announced on Tuesday a long-term agreement with Guidewire Software Inc. (NYSE:GWRE) to accelerate its global adoption of the Guidewire Cloud Platform. The move deepens a 12-year partnership and supports Sompo’s strategy to modernize operations and unify decision-making across its international businesses.
Global Cloud Migration and AI Integration
The agreement enables Sompo’s local entities to migrate existing Guidewire applications from on-premises systems to the cloud and deploy new solutions directly on the platform. The initial phase will focus on Sompo’s global commercial businesses, including the migration of ClaimCenter and PolicyCenter, alongside an expanded rollout at Sompo Direct Insurance, Inc. in Japan.
Daniel Englberger, Chief Operating Officer for Sompo’s international P&C business, said, “Guidewire has been a trusted partner throughout our 12-year relationship… We are confident in the Guidewire product roadmap and look forward to working together on this transformation.”
Japan Direct Insurance Upgrade
In Japan, Sompo Direct has selected PolicyCenter, BillingCenter, Jutro Digital Platform, and Data Studio as new core systems supporting its automobile, homeowner, and earthquake lines. “Guidewire Cloud Platform will improve operational efficiency, strengthen data analytics, and support sound decision-making,” said Katsuyuki Tajiri of Sompo Holdings.
Guidewire CEO Mike Rosenbaum said the company will support Sompo’s growth by delivering “a reliable technology foundation across core systems, data, digital engagement, and AI.”
GWRE Price Action: Guidewire Software shares were up 1.68% at $124.34 during premarket trading on Wednesday, according to Benzinga Pro data.
Photo via Shutterstock
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