Duck Creek Technologies Inc., a provider of software and services for the property & casualty insurance industry, has released the EXAMPLE Platform 4.1. The next-generation system supports the Duck Creek Rating, Duck Creek Policy Administration and Duck Creek Billing products on an integrated platform for personal, commercial and specialty lines of business.
With new efficiencies to its core infrastructure, the EXAMPLE Platform 4.1 offers enhanced system performance capabilities, while positioning carriers for technology advancements forthcoming in global arenas. As evidence of strong development partnerships between Duck Creek and its customers, the 4.1 release enables Duck Creek policy administration carriers to rapidly develop insurance products for their chosen markets, while gaining integration efficiencies with third-party applications. The Duck Creek Policy Administration 4.1 product enhancements include:
Direct-to-consumer shopping options. Insurers can respond to ever-changing consumer behavior models with improvements to sales channel Web sites. In addition, insurers can display “shopping options” modules on their Web sites that provide their agents, partners and customers, with the opportunity to view price differences in policy premiums as they choose coverage options.
Reusable integration modules. The solutions provider says insurers can reduce time-to-market with improved integrations to third-party applications—integrations can be built into insurance products by business users and then re-used in new product development.
Enhanced integration framework. Leveraging industry partnerships for robust data and reporting capabilities, the EXAMPLE Platform 4.1 is designed to provide insurers greater efficiencies in rating, binding and policy issuance processes.
“The 4.1 Platform Release demonstrates Duck Creek’s strong commitment to our customers and their business strategies to drive profitable premium growth in this hyper-competitive marketplace,” said Duck Creek president and CEO Steve Hall. “Carriers continue to validate that the platform’s flexibility and deep functionality enables them to introduce innovative insurance products more quickly, while improving retention for sustained market leadership.”
In related news, Toronto-based RSA Canada, which offers personal and commercial products across Canada, will use Duck Creek’s commercial lines platform for its Canadian operations, the company reports.
RSA Canada, a tradename of Royal & Sun Alliance Insurance Company of Canada, offers, writing approximately $1.9 billion in annual premium. RSA Canada has regional offices throughout the country employing more than 3,000 people. RSA Group, headquartered in London, England, owns RSA Canada, and collectively writes more than $12 billion in annual premium in 130 countries while employing 22,000 people.
Steve Knoch, VP of underwriting operations and CIO at RSA, says his company selected Duck Creek Technologies’ (DCT) policy administration system its strategic platform for commercial insurance operations because of its flexibility. “More than just an administration system, this solution lets us better manage business processes and automate workflows, which improves underwriting discipline and drives efficiency,” he said.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access