Guidewire Software Inc., a property and casualty insurance software provider headquartered in Calif., has entered into an agreement to acquire FirstBest Systems Inc., a Bedford, Mass. based provider of underwriting management systems for property and casualty insurers.
FirstBest’s product lines includes an underwriting management system, a brandable and transactional agency portal, an application reader and a configuration tool, as well as analytics and mobile applications for underwriters.
FirstBest was founded by John Belizaire.
Neil Betteridge, vice president of strategy at Guidewire Software, stated in a company release that expanding its focus on the underwriter has been a major theme for the company. Through this acquisition, Guidewire Software will be able to improve its underwriting management support for complex commercial, specialty and workers’ compensation lines.
The transaction is expected to close in approximately four weeks.
Source: Business Wire
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