“As we look ahead, we are focused on working closely with our customers to help best position their business in these evolving market and macro environments.”
Companies must be quicker, nimbler, and more inventive than ever before in today’s P&C market. They require insurance core systems that are built to deploy change fast and efficiently, as well as to collaborate gracefully. Carriers require SaaS core system solutions that complement their business goals rather than dictate them to win in today’s highly competitive insurance sector. Duck Creek SaaS insurance core systems enable developers to develop more quickly, whether it’s through innovative insurance business models, distinctive customer experiences, or rapid product delivery.
Carriers that have not yet discarded their historical systems in favor of current SaaS technology have challenges in updating, maintaining, and supporting their systems, as well as failing to interact with the insurance vendor ecosystem. With Duck Creek’s insurance core systems technology, a firm can leave archaic, inefficient, and out-of-date procedures while keeping the data and start operating with the efficiency and functionality that today’s clients want. Modernization might be intimidating, but Duck Creek’s comprehensive portfolio of insurance technologies can be installed individually or as a whole. In any case, the firm just receives the software solutions they need, supplied via SaaS, which gives all of the services, security, and scalability the firm needs to keep up to date with the newest software without having to put the business goals on hold.
In today’s insurance market, being able to respond rapidly to changing consumer demands is key to success. Low-code configuration tools in Duck Creek insurance core systems put change in the hands of business professionals, not only IT, allowing them to swiftly make changes to products, management activities, workflows, and systems. Low-code tools help to reduce total cost of ownership by shortening development cycles, iterating faster based on market input, and reducing total cost of ownership. Customers nowadays expect their insurance companies to provide them with many touch points via which they may conduct business, pay bills, process claims, communicate, and so on.
In an era of fast, customer-centric innovation and expansion, Duck Creek Policy enables P&C carriers to create insurance products at scale. With automation and workflow management capabilities, an integrated development environment for insurance products, and pre-built content, Policy helps carriers go to market faster, increase operational efficiencies, and improve customer satisfaction – all while being built with low-code tools and delivered as a SaaS model.
Recently, Tractable, an industry leader in the development and use of artificial intelligence (AI) to improve accident and disaster recovery, has announced that its solutions would be integrated into Duck Creek Technologies’ (Nasdaq: DCT) platform. The AI solutions from Tractable employ photographs to automate vehicle damage evaluation, allowing insurers to enhance claim accuracy, cut turnaround times, and provide a better customer experience. Duck Creek’s partnership with Tractable enables its insurance clients to improve their claims workflow by using Tractable’s market-leading AI’s speed, accuracy, and maturity. Customers of Duck Creek will now benefit from faster claim processing and a more efficient claims workflow.
As a community of one – One Duck Creek – Duck Creek Technologies is devoted to diversity, equity, and inclusion. Duck Creek holds each other accountable for creating a work environment where inclusive actions and communication contribute to the outcomes they desire for themselves and the organization. Michael Jackowski, Duck Creek’s CEO states, “As we look ahead, we are focused on working closely with our customers to help best position their business in these evolving market and macro environments. We are incredibly confident in Duck Creek’s ability to generate strong growth and increased profitability over time.”
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