Bolivar, Mo. - Surrey, England-based Duck Creek Technologies Europe, backed by New York-based Pequot Ventures and Duck Creek Technologies Inc., Bolivar, Mo.,announced its intention to bring to market software applications that enable insurers to rapidly define, develop, deploy and manage their insurance products and services.
The company's focus is on delivering software applications that will manage the entire insurance product manufacturing process from product design and creation to maintenance and deployment, to realizing new product demands rapidly.
Duck Creek's EXAMPLE Platform is a component-based suite of tools designed to provide a strategic centralized product development solution. This could be as a "black box" product and rating solution - to enhance legacy systems that are constrained by limited product build and restricted rating capability - or used where product definitions have become fragmented. This is very often as a result of multiple product deployment requirements such as via the Internet, extranet and/or having disparate legacy systems. The technology also provides full underwriting transactional support to process any line of business built on the platform, allowing the ability of full integration with existing systems or as a standalone Web-based underwriting application. Duck Creek's use of XML enables users to create and manage their insurance products in a universally available format - one place to store all product information, available to all applications.
Other aspects of the Suite include EXAMPLE Author, which defines all features of an insurance product definition, including rates, rules, algorithms, documentation, screen flow and policy transactions; EXAMPLE ManuScripts, the XML documents that preserve the intelligence of the product definitions created within EXAMPLE Author. EXAMPLE Server transforms ManuScripts into Web-enabled services, such as rating, underwriting and policy processing. EXAMPLE Express instantly Web-enables any product defined by EXAMPLE Author. EXAMPLE TransACT extends EXAMPLE Express to support Web-enabled policy processing across any line of business. Finally, EXAMPLE Forms extends the EXAMPLE platform to support rules-based form definition, run-time form generation and a variety of printing and routing options for generated form output.
Source: Duck Creek Technologies
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