The Duck Creek Blog

2020 was a banner year for Duck Creek. The launch of our initial public offering may have received the most headlines, but we continued to demonstrate why we are the leading SaaS provider for P&C insurance.  For the sixth year in a row, we were named a leader in Gartner’s 2020 Magic Quadrant for P&C…

The insurance industry has become increasingly impacted and reliant on digital technologies, for both internal operations and customer-facing programs. While technology has undoubtedly made processes faster and customer self-service more widely available, all of this data means insurers and their customers are susceptible to security breaches. That’s why many state and federal governments have enacted…

The insurance industry has been greatly disrupted in recent years, in large part due to digital transformation. The ripple effects of that transformation have driven widespread insurance innovation — no aspect of insurance functions (for both carriers and their customers) is exempt. As you might expect, this has had a disruptive effect on operations. An…

The sheer volume of data that insurance companies process and analyze on a daily basis is astonishing. And this data is what helps inform decisions from top to bottom, from premium pricing to new product development and everything in between. However, an insurer can only act on their most valuable asset — data — if…

By Duck Creek Technologies and Belhe Analytics Advisory A new standard is emerging for how the insurance industry leverages data to fuel and guide their businesses. Insurers are expected to be able to know their customers better than the customers themselves, find opportunities where competitors aren’t looking, and continuously learn and improve their operations. Yet…

I’ve been following with interest the UK Financial Conduct Authority (FCS)’s recent market study – General insurance pricing practices, and for those that have missed this, the FCA have been looking at the current practice of charging existing customers more for their home or motor insurance renewals than new customers. “Price Walking” has been prevalent…

The insurance industry has been in a state of flux: with new technologies, data-driven processes, and growing customer demands being major drivers behind this time of change. And while many changes are good — like the digital transformation of insurance and what that has meant for companies and customers alike — some of these changes…

The Insurance Network’s recent Virtual London Market Claims event saw a vibrant debate emerge during the strategic claims technology panel discussion, featuring Duck Creek Managing Director for Europe Bart Patrick. The last six months have highlighted the strategic importance of technology, both in enabling new operating models and streamlining the claims process, particularly as insurance…

In providing mission-critical functionality for running the central operational functions of P&C carriers – from product development to underwriting, rating, billing, claims, and beyond – core systems are critical to enabling carriers’ success. From personal lines to commercial and specialty, whether a carrier’s primary objective is on creating highly differentiated products, enhancing customer experience, innovating…

From increasing levels of online purchases to reduced travel to a shift to work-from-home, the insurance industry, like most industries, has been and continues to be impacted by COVID-19. Despite the pandemic, a recent survey of P&C insurers about switching to remote implementations found that when it comes to actual IT project delivery, 58% indicated…

Many insurers of all types and sizes have come to rely on reinsurance as a tool to help grow their businesses or protect their balance sheets against unforeseen events. For that reason, reinsurance administration is essential to maximizing the benefits of reinsurance and ensuring confidence in the solvency of the business. Yet the systems that…

Distribution models for insurance companies are continuing to evolve as carriers seek to better connect with their customers. For some carriers, this has meant creating channels for selling and servicing customers directly. But for many other carriers, the role of the independent agent in this aspect remains just as important as ever, and ensuring the…