Insurance tech company Guidewire announced the acquisition of AI underwriting firm Hyperexponential for $1.7 billion in cash, with a total deal value of about $2 billion including up to $400 million in additional payments tied to revenue targets. Hyperexponential, backed by Andreessen Horowitz and Battery Ventures, was founded in 2017 and has raised nearly $90 million; its software is used by nearly 600 insurers across 40 countries.