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SPARK OF THE CORPORATE

Being public is important because it shows the strength of balance sheet….

A versatile strategist, Marcus Ryu co-founded Guide Wire, an insurance company, way back in 2001. He has been a Chief Executive Officer of the insurance biggie from 1st October 2010 and the President of the overall managing committee since 2010. Mr. Ryu has been maintaining a variety of roles in Guide Wire Software Co., including securing key customer relationships.

As the great entrepreneur have dual degrees to his credit, that too from top notch universities, he firmly believes in the power of words and ideas. Marcus Ryu is a great motivator and a speaker. He gives guest lectures at various top universities, addressing the student community. Students and the younger generation, who take his words on a serious note, are sure to come out in flying colors.

A person who has come from a very strong academic background has a lot of faith in the power words as well as the power of ideas. He also believes to follow a strategic approach while hiring employees and also believes in motivating and being motivated.

A person who also believes in communication, Marcus Ray is a friendly person who is known for his friendly approach with his subordinates. He conducts regular and timely meetings with his employees and he says it is more like a football huddle than a formal meeting. He tries to maximize the transparency in this organization through such meetings with the combination of peer pressure and self imposition.

The CEO of Guide Wire has a long way to go. He is professionally, educationally and technically the best.

Early days and Education

Mr. Ryu holds a Bachelor’s degree from Princeton University. He completed his graduation in Economics during the period 1991- 1995. He did his Bachelor’s degree in Philosophy from New College, Oxford University from 1995 until 1997.

Career Spark

Let us discuss on the companies, Mr. Ryu worked with, before he went all out, to start his brand new company

He had completed multiple degrees starting 1991 up until 1997. The first degree was in Economics and the second degree was in Philosophy, as stated in the previous paragraph. The moment he completed his dual degree program, he went all out to join Mc Kinsey an American Company. He worked there as an Engagement Manager. This was during January 1998 up until January 2000 (2 years and 1 month)

Career started at Ariba

a) During His career stint at Ariba, which he had joined post his stunt at Mc Kinsey & Co, he had bagged the profile of a VP, in the strategy and development team. He oversaw a corporate initiative, in favor of Ariba, which is a financial services company. He brought more acquisitions and mergers while serving at Ariba.

b) Prior to taking up the initiative of bringing international clients to the financial services company, he was involved in providing clients with strategic advices as he was an expert on procurement and internet based marketplaces.

c) The guy then went all out to start his own firm namely Guide Wire in the year 2001. He has been serving as a VP of Products and Strategy of his own firm up until 2010.

Guide Wire as a company

Guide Wire Software Inc. is a company based out of California. It provides back to back services of software, for developing insurance packages for the people of the United States of America. The kind of applications, taken up by the company includes

a) Under-Writing

b) Policy Administration

c) Claims and

d) Billing

The company was founded by 6 people namely Ken Branson, Marcus Ryu (who initially worked with Mc Kinsey and Ariba Inc), James Kwak, John Raguin, John Seybold and Mark Shaw.

Guide Wire Insurance Suite provides you with claims management and underwriting, that rapidly helps transform the legacy of your business into the most profitable venture. The insurance covers loss of property and lives, and thus simplifies the overall portfolio of your business venture. The insurance suite is created with a service oriented approach, in mind.

His journey with Guide Wire

As a strategy analyst, this is what the master mind guy has been taking care of. Mr. Ryu is responsible for the daily operations and provides strategic guidelines to the insurance firm. He performs a versatile set of activities connected with managing the firm efficiently. These include

=>Securing key customer relationships

=>To communicate effectively on the distinct value proposition to the market and

=>Defining product strategy.

His prior experience as a strategy planner makes this guy an expert in exploring latest market trends, analyzing them and procuring novel ideas to develop better products for his own set-up.

As Mr. Ryu had sufficient experience in terms of acquiring mergers, acquisitions and corporate positioning, this guy is the most suitable strategy developer for drawing up detailed and comprehensive insurance coverage plans, to meet the requirements of all and sundry in the United States of America.

As for Guide Wire, Mr. Ryu performs a crucial role in developing and implementing leading solutions for the insurance company. He joined as the Vice President, taking care of products and services, connected with the insurance industry at Guide wire Inc from 2008 to 2010. And he served as the VP of Strategy from 2001 to 2008. Now presently, he is the CEO of Guide Wire.

Some of the golden words as spoken by the 40 year old entrepreneur

“We strive for excellence in software development and delivery to enable your excellence in insurance operations. We want to exceed your expectations about what a committed technology partner can deliver.”

The guy is thus committed towards customer satisfaction and business excellence. He makes sure, the firm does pretty well. Mr. Ryu has been making a reasonable level of profits for Guide Wire with each passing quarter. Mr. Ryu also handles the process of conducting interviews to select the right set of candidates for Guide Wire.

What inspired Ryu to start the firm named Guide wire?

The guy wanted to set up an insurance company, after the 09/11 incident, wherein the twin towers collapsed. So the key principle behind starting the firm was to provide people with more secure lives.

The team of 6 who co-founded the insurance business based the team to have a mix of values namely integrity, rationality and collegiality.

Integrity is to tell the simple truth. The clients who approach the firm cannot exaggerate on what has happened. Rationality is making simple decisions using truth and logic. And Collegiality means minimum hierarchy. The lesser the number of people involved in processing your claim amount, the lesser will be the degree of confusion and chaos and whether you are an individual or a business firm, you can be assured of almost 90% of claim value in case you suffer losses.

Awards and Accolades
The firm Guide wire software was cited as the 50 most desirable mid-size Bay Area companies (101 to 500 employees) to work for 2010-2012.
Professional Affiliations
Princeton University
New College Oxford University
OPOWER, Inc.
Quotes
  We wanted to create an enduring business with a very strong set of values. We chose integrity, rationality and collegiality. Integrity is: simply tell the truth.
  The beauty of the kind of software we build is that you can actually build a very equal and collegial community of professionals.
  We put a great deal of thought into this, thinking of it almost like a constitution that will guide our future actions.
  I say “no wishful thinking” all the time. Another is this idea of embracing adversity. It’s been very hard to get here, and we should take pleasure in how hard it has been. It’s hard to build our products.
  We think being public is important because it shows the strength of our balance sheet. We can also be more transparent. This will be important for getting large customers
  Instead, they are more concerned about replacing 30-year-old legacy technologies. The type of software deployment is not a big factor.
  At Guide wire, we look to the long term. This means moderated growth and a focus on the customers. Our attrition rate is 0%, reference ability is 100% and renewals are 100%.
  We are working with mobile technologies, such as for the iPad. It’s still in the experimental phase, but we think there is lots of potential.
  There’s nothing terribly radical about our hiring process. We focus a lot on references and we hire a lot by internal referral.
  I stand before you. I’m here for the duration. We’ve got some challenges. We’re equal to them. Nothing we have to do is harder than what we’ve had to do to get here. And we’re going to join arms and be shoulder-to-shoulder and we’re going to succeed as we never have before..

Hope viewers caught up the spark…

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