Guidewire has revealed plans to invest $60m over the next five years to expand its operations in Japan, aiming to speed up the delivery of products and services for Japanese insurers.
This initiative is expected to support insurers in achieving profitable growth, business and IT agility, and regulatory compliance, the insurtech company said in a statement.
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Additionally, it is anticipated to strengthen the company’s local team and ecosystem development in response to growing demand for cloud-based core systems.
Since 2008, Guidewire has been operating in Japan and serves more than ten Japanese insurance companies, including Tier 1 insurers.
The company also said that more than 60% of the country’s insurance gross written premium (GWP) is processed via Guidewire’s ClaimCenter.
Furthermore, Guidewire has made enhancements to its PolicyCenter and BillingCenter products.
These enhancements are designed to better support Japanese insurers with new features such as policy change reversals, proration and effective time.
Additionally, there will be localised support for the Japanese language, documentation and training.
Guidewire is actively developing additional capabilities targeted at the Japanese insurance market.
These include pre-built integrations for personal auto insurance, expected to be available by mid-2026, and expanded features for homeowner, earthquake and commercial group policies, slated for 2027.
Guidewire CEO Mike Rosenbaum said: “Over the next five years, we plan to invest more than $60m to enhance our end-to-end cloud platform in Japan with powerful innovations like AI – helping our customers boost underwriting precision, accelerate speed to market and operate with increasing agility.”
Guidewire Asia-Pacific managing director and senior vice-president Shaji Sethu stated: “Japan is a key market for Guidewire, and we are committed to helping our customers transform their operations to stay competitive in an evolving landscape.
“Our goal is to drive measurable improvements in speed-to-market, underwriting effectiveness and operational efficiency, empowering insurers to meet the rising expectations of both customers and regulators. We plan to do this by growing our team in Japan.”
Last month, HDI Global Insurance Company, the US division of HDI Global, selected Guidewire PolicyCenter as its new platform for policy administration and underwriting.
