Bolivar, Mo. — Everest National Insurance Co., a Liberty Corner, N.J., provider of property/casualty insurance to policyholders in the U. S. and part of Everest Re Group, Ltd., a Bermuda Holding company, selected a commercial policy administration solution from Duck Creek Technologies Inc., a provider of product configuration, sales automation, rating and policy administration solutions for the insurance industry.
The product is a Web-enabled platform designed to manage the complete commercial lines policy lifecycle. The implementation will initially focus on Everest’s General Liability and Excess & Surplus lines, with plans to support other commercial lines in the future.
One of the key factors contributing to Everest’s selection of Duck Creek was the system’s flexibility and tool-based approach that is designed to enable quick development and deployment of new insurance products, reports Duck Creek. Being able to respond quickly to market opportunities in today’s competitive marketplace was one of the insurer’s main objectives.
As a Web-enabled solution built on service-oriented architecture (SOA), the Duck Creek policy administration solution proved a good fit for Everest’s technology strategy. In addition to the need for a flexible and configurable system, Everest also had a desire to be self-sufficient in order to quickly make product modifications and build new products with minimal ongoing dependence on Duck Creek resources.
“We wanted a solution that was tool-based and was consistent with our SOA technology strategy, but we also wanted a system that would enable us to control our own destiny without having to rely on the vendor for every modification, enhancement and new product,” says Sandeep Bajaj, CIO with Everest National. “Duck Creek proved to be a good fit on all counts.”
“With the Duck Creek system, the tools-based technology platform enables our business users, for the first time, to have easy access to—and control of—data so they can quickly make informed underwriting decisions. This allows us to take advantage of market opportunities with the proper infrastructure,” says Everest’s EVP and CAO Barry Smith.
Source: Duck Creek Technologies Inc.
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