P/C software company Guidewire said it has completed its $160 million acquisition of cloud computing tech outfit ISCS, about two months after the deal between the California companies was first announced.
ISCS has been primarily in the cloud computing space, with areas of focus including policy administration, underwriting, claims, billing, business intelligence, reinsurance and mobile products. The firm said it has more than 35 insurance organization customers around the country “writing all P/C lines.”
Beyond gaining more capacity for the cloud computing market, Guidewire’s purchase also helps it gain better access to the small carrier market. The company’s software is designed to help P/C insurers with their core operations, data and analytics, and digital management, with more than 260 customers globally who have used its products.
With the acquisition of ISCS complete, Guidewire also announced the launch of Guidewire InsuranceNow, a cloud-based product designed to support insurers in policy administration, billing and claims management. As well, it includes digital and data functionality such as agent access and consumer portals, document management, reinsurance, business intelligence and producer management, all within a single system.