Guidewire Software (GWRE, Financial), a U.S.-based insurance technology provider, aims to double its workforce in India to 1,000 employees by the end of 2028. This expansion is part of the company's strategy to capitalize on India's transformation from a low-cost back-office hub to a high-value innovation center. Many multinational companies are establishing operations in India, a trend expected to accelerate in the coming years.
Guidewire's expansion will focus on its Bangalore center, primarily growing its professional services department, which collaborates with firms like PwC, Capgemini, and Tata Consultancy Services to deploy and implement software solutions for insurance companies. By the completion of this expansion, Indian employees will constitute nearly a quarter of Guidewire's global workforce.
As of July, Guidewire employed approximately 3,500 people worldwide, with around 500 staff expected in its Bangalore and Chennai centers by the end of the year. Of these, about 400 are part of the engineering team, focusing on R&D and cloud operations, while the rest are engaged in professional services.
The Global Capability Center (GCC) sector in India is rapidly expanding, with major companies like JPMorgan Chase, Target, and Wells Fargo establishing centers. ICICI Securities forecasts that GCCs will contribute up to 2% to India's GDP by 2030, up from less than 1% currently.
