Guidewire Completes Cyence Acquisition; Names Sherry, Maier to Top Posts as Roza Departs

Property/casualty insurance software provider Guidewire Software announced a transition in its sales and operations leadership, and the closure of its previously announced acquisition of Cyence.

Guidewire announced that Scott Roza, chief business officer, is stepping down from that position in order to pursue other career opportunities, with a planned departure from the company effective at calendar year end.

In connection with Roza’s departure, Steve Sherry, senior vice president of Worldwide Sales and a 12-year veteran of Guidewire, has been promoted to chief sales officer.

Eileen Maier has been promoted to chief business officer. Maier has been with Guidewire for 12 years, and her most recent role was senior vice president, Solution Consulting and Go to Market Delivery.

Guidewire also reported that it closed its previously-announced acquisition of Cyence, which applies data science and risk analytics to enable P/C insurers to underwrite “21st century risks” including cyber, reputation and new forms of business interruption risk that have gone underinsured or uninsured.

In conjunction with the acquisition, Guidewire has named Arvind Parthasarathi, previously chief executive officer of Cyence, as senior vice president, Cyence Risk Analytics.

Guidewire said it paid $275 million in cash and stock for Cyence.

Guidewire has also promoted Alex Naddaff, a 14-year veteran of the company, to chief Cloud and Customer Success officer from chief customer officer.

Guidewire also reported that it closed its previously-announced acquisition of Cyence, providing Guidewire with cloud-based data listening and risk analytics technology that enables the P/C insurance industry to grow by underwriting new and evolving risks such as cyber risk that have gone underinsured or uninsured.

In conjunction with the acquisition, Guidewire has named Arvind Parthasarathi, previously chief executive officer of Cyence, as senior vice president, Cyence Risk Analytics.

Cyence’s CEO Sees an Urgent Need to Model Cyber Risk

Marcus Ryu, chief executive officer, expressed gratitude to Roza for “his contributions to Guidewire’s success over the past four years, as well as his willingness to remain with our company until the end of the calendar year in order to ensure a smooth transition process.”

Ryu noted that newly promoted team has worked together at Guidewire for more than a decade.

Topics Mergers & Acquisitions Property Casualty Risk Management