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 Core Insurance Platforms, North America. We also continued to deliver product enhancements as soon as they became available, a standard among SaaS vendors of all industries, and highlights of those are summarized in the blog post.
Digital Engagement: Introduced Duck Creek Producer, a modern producer portal that enables P&C carriers to deliver genuinely valuable and satisfying experiences, resulting in more productive and loyal agents, brokers, and other intermediaries.
Policy and Rating: Expanded the statuses available within renewal, in-force, and billing scenarios to ensure transactions are processed and exceptions are logged for review. New functionality for defining reinstate with lapse and out of sequence endorsement rules was also added.
Claims: Continued development of Claims capabilities with a focus on Workers Compensation. Enhancements were made in supplier appointment, employment and compensation, medical invoice, NCCI and IAIABC claims input fields, and a data validation viewer.
Billing: Created performance and scalability improvements that enable faster processing of invoice evaluation, recurring payments, and complex billing schedule calculations, among other billing activities.
Insights: Streamlined the process of installing and upgrading Insights with automation that reduces timelines to minutes. Enhanced business intelligence capabilities are also available including new configuration tooling for developing persona-based reports and additional out of the box reports for Policy, Billing, and Claims.
Distribution Management: The integration with Duck Creek Policy that allows for data to be exchanged between the two systems was completed, enabling automatic syncing of agency credentials and validations of licenses and authorizations for Just-in-Time appointments.
Reinsurance Management: New reinsurance contract management capabilities including pooling and basket contract logic, parent/child contract grouping for combining different contracts for billing or reporting purposes, and bulk uploads of facultative certificates.
Industry Content: As always, bureau circular updates are generally made available 90 days prior to their effective dates and implemented in Policy and Rating, with templates made available monthly. These updates continually enhance the ability to work with all lines of business, including business owners (BOP), commercial auto, commercial property, crime, general liability, inland marine, umbrella, workers compensation, and more.
Platform: Introduced duckcreek.dev, a new development portal for insurance technology solution providers who seek to want to integrate their products and services into Duck Creek workflows. This development portal accelerates ease of integration with the Duck Creek Platform by offering pre-built integration patterns and reduces the need for assistance from Duck Creek for development and testing.
Content Exchange: New and updated accelerators, samples, and Anywhere Integrations are made available frequently; 2020 was no exception, including:
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- A new Anywhere Managed Integration with OnBase by Hyland for Billing that gives carriers improved access to, and control of, documents and metadata. Time is saved by not having to search between multiple systems for this data.
- New Anywhere Enabled Integrations from Gradient AI, Cytora, ISO, BitSight, Spixii, WPS Analytics, Prompt.io, FICO, DocuSign, InsurePay, Split Limit Solutions, and Ebix.
- ·A Circular Adoption Tool. This web application streamlines the process of adopting, rejecting, and modifying bureau circular updates.
- New Billing accelerators including Monthly Reporting transaction, Term Breakdown Letter, Policy Term Search, Delivery Preferences Reminder Notice, Delivery Preferences Payment Confirmation, and Delivery Preferences Invoice.
For our current customers, full documentation on everything we do is made available in our Solution Center as soon as it is ready, and we update this content regularly.
We will continue to deliver new capabilities, both to improve the technical foundation of the Duck Creek Platform and to add targeted functional enhancements to our applications. We look forward to a productive and successful 2021 as we continue our mission to transform the P&C insurance industry with customer-centric SaaS solutions.
