Market Overview

Zurich Expands Global Use of Guidewire InsurancePlatform with Selection of Guidewire Cyence Risk Analytics

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Multi-line global insurer to use cloud-native economic cyber risk
modeling solution built to help insurers quantify cyber risk exposures

Guidewire Software, Inc. (NYSE:GWRE), the provider of the industry
platform Property and Casualty (P&C) insurers rely upon, today announced
that Zurich Insurance Group (Zurich) has selected Guidewire Cyence™ Risk
Analytics (Cyence) to leverage the cyber risk knowledge and insights the
solution provides to help the company prospect, underwrite, and price
risks. Zurich will roll out Cyence globally with an emphasis on enhanced
analytics and intelligence for risk selection.

Unprecedented technological advances of the 21st century have
shifted the nature of risk across the P&C insurance industry.
Ever-evolving cyber risks present unique challenges including limited
availability of traditional actuarial data needed to model these risks.
Cyence combines economic modeling, cybersecurity, machine learning and
Internet scale data collection to help risk takers assess the financial
impact of cyber risk.

"After conducting a thorough search, we found that the capabilities of
Guidewire Cyence Risk Analytics, combined with Zurich's risk insights,
will strengthen the way we address the challenges of today's
rapidly-changing cyber risks," said Lori Bailey, Global Head of Cyber
Risk, Zurich. "We are focused on helping our customers assess these
cyber risks, and this product will help us make better underwriting,
pricing, and enterprise risk management decisions so we can meet that
goal."

Guidewire Cyence Risk Analytics will help enable Zurich to:

  • Enhance its underwriting precision and efficiency through data driven
    risk selection tools;
  • Quantify the financial impact of cyber risk at an individual company
    and portfolio level; and
  • Achieve improved growth opportunities due to the solution's ability to
    deliver the insight needed to design new insurance products and
    go-to-market strategies.

Zurich Insurance Group and its regional entities are existing Guidewire
customers of one or more InsurancePlatform products in 10 countries. "We
are pleased that Zurich has extended their relationship with us through
this selection," said George Ng, chief data officer, Guidewire. "We are
looking forward to working with them to infuse data analytics to help
them achieve their strategic goals around growth and enterprise risk
management."

About Zurich

Zurich Insurance Group (Zurich) is a leading multi-line insurer that
serves its customers in global and local markets. With about 53,000
employees, it provides a wide range of property and casualty, and life
insurance products and services in more than 210 countries and
territories. Zurich's customers include individuals, small businesses,
and mid-sized and large companies, as well as multinational
corporations. The Group is headquartered in Zurich, Switzerland, where
it was founded in 1872. The holding company, Zurich Insurance Group Ltd
(ZURN), is listed on the SIX Swiss Exchange and has a level I American
Depositary Receipt (ZURVY) program, which is traded over-the-counter on
OTCQX. Further information about Zurich is available at www.zurich.com.

About Guidewire Cyence Risk Analytics

Guidewire
Cyence Risk Analytics
are data listening and risk analytics products
focused on understanding and modeling new and evolving 21st century
risks. By combining internet-scale data collection, adaptive machine
learning, and insurance risk modeling, Cyence Risk Analytics provides
insights that help companies face new risks, take advantage of new
opportunities, and develop new products.

About Guidewire Software

Guidewire delivers the industry platform that Property and Casualty
(P&C) insurers rely upon to adapt and succeed in a time of accelerating
change. We provide the software, services, and partner ecosystem to
enable our customers to run, differentiate, and grow their business. We
are privileged to serve more than 350 companies in 32 countries. For
more information, please visit www.guidewire.com
and follow us on twitter: @Guidewire_PandC.

NOTE: For information about Guidewire's trademarks, visit https://www.guidewire.com/legal-notices

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