Guidewire Software acquired FirstBest Systems, Inc., a transaction completed in August 2016.
FirstBest Systems, Inc. operates in Underwriting management / commercial and specialty lines, is based in Bedford, Massachusetts, USA. FirstBest Systems is a provider of an underwriting management system (FirstBest UMS) to P&C insurers, supporting submission intake, risk analysis, the underwriting process, and collaboration for complex commercial, specialty, and workers' compensation lines in the U.S. and Canada.
FirstBest's technology and people expand the Guidewire Insurance Platform by giving insurers writing complex commercial, specialty, and workers' compensation lines greater support for risk assessment and decision-making.
FirstBest UMS pairs naturally with Guidewire PolicyCenter, deepening support for the high-value commercial, specialty, and workers' compensation underwriting segment. Folded into the Guidewire Insurance Platform underwriting capabilities.
Like Guidewire, FirstBest has been committed from its founding to advancing the strategic goals of P/C insurers through modern software. Their expertise in complex risk analysis, and the informational and workflow needs of commercial underwriters will deepen our ability to serve this vital constituency within the industry.Marcus Ryu, Chief Executive Officer, Guidewire Software
Advisory firms were not disclosed for this transaction.