Guidewire Software (Nasdaq: GWRE) $29.35. Announced Monday after market close that Nationwide Mutual Insurance Company has decided to expand its partnership with Foster City, California-based Guidewire Software, Inc.
Under the expanded agreement, Nationwide will use Guidewire PolicyCenter® as its underwriting and policy administration system and Guidewire BillingCenter® for its property and casualty insurance lines.
The company is already in the process of deploying Guidewire ClaimCenter® for claims handling for all property & casualty lines of business.Guidewire InsuranceSuite™ will enable both Nationwide Insurance and Allied Insurance, Nationwide’s independent agency channel, to: Bring new products and product enhancements to market more quickly. Make it easier for independent and exclusive agents to acquire and service business more quickly and accurately. Enhance operational efficiency through proactive workload management and automation. Improve data analytics and real-time reporting capabilities.
“Our commitment to our members and our agent partners is the number one reason we’re undergoing this transformation,” said Michael Keller, executive vice president and chief information officer, Nationwide Mutual Insurance Company. “InsuranceSuite will help us continue to enhance service and grow our business.”
What They Do: Guidewire Software is a provider of core system software to the global Property/Casualty (general) insurance industry.
Omega Commercial Finance Corporation (OTCQB: OCFN) $0.20. Announced Monday after market closed that it believes it can build shareholder value through two strategic alliances with a proven commercial property owner and developer with unencumbered real estate assets.
This past period ending June 30, 2012, CCRE Capital LLC, a wholly owned subsidiary of OCFN, completed strategic alliances with Flavio Zuanier, who is the managing member of Gardens VE Limited and Towers Limited. Mr. Zuanier has 35 years of proven hospitality development and construction engineering expertise.
As reported in the recent S-1 Registration Statement, OCFN has 49% ownership interest in both alliances. The alliances project to have an estimated total FMV of $71 million. Fundamentally, once the auditor consolidates these assets to the balance sheet, management estimates this could garner a projected Book Value increase of $34.79 million, or a $1.01 per/share BV.
President Jon S. Cummings IV states,"This is a significant step towards seeking prudent diversification and growth for the company's shareholders!"
What They Do: OCFN is a commercial real estate lender and specialty finance holding company.
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