Matthew VanVliet: Hey, good afternoon. Thanks for taking the questions. Mike, you mentioned that you signed a number of new partners this quarter. Curious as you look across the global landscape, are there pockets of either regions or maybe specific areas of markets where you feel like you still need to deepen the roster of partners that you have there, especially now as you’re looking to put as much of the services mix on those partners as possible.
Mike Rosenbaum: Yeah. It’s a good question. We think a lot about our progress in North America, our progress in Europe, but then in specific countries. And our progress in Asia Pacific. And so I think as we think about where should we be growing over the next five years faster, certainly, there are some specific countries where we have an opportunity to better optimize our approach, not just in our products and go to market, but to your point, around the partners that we’re working with and how we’re showing up in each of those particular markets. And it’s sort of — it’s an interesting game for us to play. It’s like — it’s very, very efficient. If we imagine that our approach that’s working very well in North America should logically work everywhere in the world, but it doesn’t always work out that way, right?
And so it’s up to us to get out there and figure out what does the market say in Germany need from Guidewire and who can we be working with in each particular country in such a way as the customers in any particular country or getting exactly what they need from the combination of Guidewire and our systems integrator partners. So for sure, there is some optimization and I expect we will put into the strategic plan for our organization and execute over the next few years and enable us to grow a little bit faster in the countries where we see a bigger DWP and insurance opportunity than what we’ve been able to capitalize on so far.
Matthew VanVliet: Okay. Very helpful. And then when you — I guess, when you look at maybe some of your customers that have adopted HazardHub and some of the other sort of more advanced data-driven products out there, from a wallet share perspective, how much of that can be captured or how much do those products sort of capture in some of the customers that are really leaning into that? And then how, if at all, are you incentivizing the go-to-market team to get that more penetrated in customers as a huge point of differentiation.
Mike Rosenbaum: Yeah. It’s a great question. I will be honest. I tend not to think about the analytics opportunity in terms of wallet share, but instead think about it in terms of the business impacts that we can help create for our — for the insurance industry that we serve. We see a pretty significant opportunity for the industry to improve the efficiency, honestly, across the board, both in claims and also in underwriting and also pricing. And so business benefit, there’s an efficiency gain that can be unlocked through data and through analytics. And so we think that by delivering value and creating an opportunity for our insurance customers to create a better system, we can or take in the value creation that we facilitate as opposed to thinking of it as sort of like how much are you paying for who?
And can you ship some of that to Guidewire? That’s not actually how we think about it. Certainly, something like HazardHub has the potential to be added to and drive better decisions and efficiencies all across the industry, and that’s how we think about it. In terms of the incentive structure, we have all the logical structures in place with our sales organization to ensure that the teams are incented to work together and position the different products across the spectrum. And we continue to tweak and optimize those things, but we’re certainly incentivizing our organization to work effectively together and position those solutions side by side.
Jeffrey Cooper: And HazardHub, in particular, is really interesting, right, because that has more of an organic growth market motion where we can land have them test out the product and then grow as they see success. And so that does come with a little more of an inside sales motion initially selling into our installed base and building to that muscle, which is great for us, right, because we intend to have more of those types of products over time.
Matthew VanVliet: Great. Thank you.
Operator: Thank you. Our next question comes from the line of Parker Lane with Stifel. Please proceed with your question.
Parker Lane: Yeah. Hi, guys. Thanks for taking the question here. Mike, I wanted to focus in on the three net new customers you announced during the quarter. Seems if there’s anything interesting you would call out about the processes or mix of systems that were in place there that you, guys, are replacing?
Mike Rosenbaum: Yeah. Thanks. I appreciate the question very much. So one, I want to call out specifically is we are — we have the opportunity to work with somebody. So we work with an industry partner who has a very, very bold vision about how they’re going to grow and take advantage of what see as a real disruption in the industry. And they needed they basically need a system that was going to allow them to scale very, very significantly and had our own, the sort of solutions that they chose to get started with. And so it’s a pretty minor shift, I would say, but it is a replacement of solutions that are targeted at smaller sort of getting started insurance companies. But it was great to see just the vision that they have and be able to be — to earn the right to be chosen as the platform that they were going to use to scale into their ambition, as I say, to take advantage of what they see as a pretty significant disruption in the market in the United States.
