FirstBest and business intelligence company Yodil announced last week that they were forming a strategic partnership to help carriers use data and analytics to boost underwriting and front office activities. In addition, FirstBest also said that it would soon announce FirstBest Dynamic Synchronization for Accenture Duck Creek, a new technology that will more closely tie Accenture’s Duck Creek P&C software products with FirstBest’s underwriting workstation, called UMS.
Under the FirstBest-Yodil agreement, the partners are aiming to develop software and services that will give insurance underwriting teams powerful and easy-to-use BI capabilities. For instance, allowing carriers to pull past claims, billing history and other information from multiple systems and present underwriters with actionable data to use in the underwriting decision process.
The first products from the partnership are due out later this year or in early 2015.
The deal with Accenture “goes beyond integration,” said FirstBest CEO John Belizaire. The two have an established partnership. The new effort will allow UMS, using FirstBest Dynamic Synchronization technology, to query and use up-to-date Duck Creek product definitions, page and field behaviors, as well as rating and policy workflow, according to FirstBest.
“As you make adjustments to the product definition in Duck Creek to respond to evolving conditions FirstBest UMS is synchronizing behaviors and workflow in realtime,” according to the company’s literature on the new technology.
The result promises to improve underwriter efficiencies and decision making while lowering maintenance costs.
More details on the FirstBest-Accenture Duck Creek initiative are expected shortly.
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