Guidewire Services PEAK Matrix® Assessment 2020 – Setting the Stage for Core on Cloud

P&C insurers are increasingly looking to adopt third-party core platforms to quickly address the limitations of legacy core systems and improve operational efficiencies, agility, scalability, and front-to-back transformation. Guidewire has become the core platform of choice for many P&C insurers that helps them navigate this transformation journey. Insurers are looking to identify service partners with strong insurance domain knowledge, technical expertise in Guidewire products, and a strong suite of accelerators to address their time-to-market and cost priorities. With Guidewire shifting its focus to a SaaS model, insurers are now cautiously evaluating the best-fit cloud deployment option for moving core systems to the cloud, based on their long-term cloud strategies.

IT service providers are responding to these demands by investing in dedicated CoEs and training to expand their Guidewire-certified talent pool across multiple products, building accelerators/frameworks to ensure on-budget and on-time project implementations, and supporting insurers in crafting a cloud strategy with Guidewire at the center. Many service providers are enhancing, extending, and complementing Guidewire products' capabilities by weaving digital services offerings on top of the products. Service providers that can position themselves as strategic partners in P&C insurers' Guidewire transformation journeys by offering an integrated value proposition that comprises consulting and roadmap support, as well as cost-effective downstream implementation capabilities, will be better positioned to capitalize on the demand opportunity.

In this report, we study the vision & capability and market impact of 16 leading IT service providers and consulting firms that provide Guidewire services and position them on Everest Group’s proprietary PEAK Matrix® to identify the Leaders, Major Contenders, Aspirants, and Star Performers. The assessment is based on Everest Group’s RFI process and interactions with leading Guidewire service providers, client reference checks, and an ongoing analysis of the Guidewire services market.