Blog Post
Insurance Ecosystems – A Roadmap to Future-Prep Your Business
All industries are experiencing some form of disruption – including insurance. Products, services, and customer experience are all impacted, and insurance ecosystems are a major cause of this disruption. Insurers can take action to get ahead, and with the right partners and path forward, ensure that their ecosystems are the right economic choice. Property &…
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Your Guide to Insurance Digital Transformation & How to Achieve It
To win in today’s crowded and hyper-competitive insurance market requires speed, efficiency, and ease of use. That means going digital – and though this is not a simple process, by employing a smart strategy, every step will move you closer to reaping the benefits of digital transformation. The trick is not to get overwhelmed –…
Blog Post
2019 Product Enhancements – A Year In Review
As a leading SaaS provider to the P&C insurance industry, Duck Creek delivers product enhancements as soon as they are available, a practice that is standard among SaaS vendors across all industries. In 2019, we continued to operate by that standard and delivered nearly 50 enhancements in this nimble fashion and not as large waterfall…
Blog Post
10 Ways Predictive Analytics in Insurance will Shape the Industry in 2020
According to Willis Towers Watson, more than two-thirds of insurers credit predictive analytics with reducing issues and underwriting expenses, and 60% say the data has helped increase sales and profitability. That figure is expected to grow significantly over the next year, as the inherent value of predictive analytics in insurance is showing itself in myriad applications.…
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Handling Claims Challenges with Modern Solutions
The modern insurance claims process is increasingly complex. More variables and data are constantly coming into play, and carriers must determine appropriate settlements and flag potential fraud faster than ever. On top of technical challenges, insurers are dealing with their customers during stressful and vulnerable moments; times when the delicate balance of empathy and automation…
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How AI is Impacting the Insurance Industry
In its earliest days, artificial intelligence (AI) was thought of as a dead-end technology, an invention that would never be adopted or used to its highest potential. That couldn’t be farther from the truth. Today, AI technologies are rapidly reshaping the way businesses operate across industries. In ours, AI in insurance is helping P&C insurers…
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Novarica Market Navigator Report: Duck Creek Policy
Industry analyst firm Novarica recently released its annual Market Navigator report on Property and Casualty Policy Administration systems, an exhaustive review of PAS products and full suites available to P&C insurers in the United States. While the report does not offer subjective analysis, it does offer a close look at the functionality and key differentiators…
Blog Post
Microservices and Modern Core Systems: The Best of Both Worlds, Together
Insurance technology can be a highly cyclical industry. Over the last 30+ years of my career, I have seen quite a few cycles repeat themselves, sometimes more than once. Centralized mainframes gave way to distributed desktops, then back to centralized servers, and now back again to distributed endpoints with the adoption of cloud-based hosting and…
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From Digital Rating Content to Bureau Content as a Service
Adding to the stress of a soft market and the hit underwriting profits took last year, all indications are that things will remain tight for P&C insurers through 2017. To set things right, many insurers will redouble their efforts to implement bureau circulars so they can rate policies more effectively, lower costs and avoid bad risks.…
Blog Post
Point of View: Speed to Market with Electronic Bureau Content for Competitive Advantage and Differentiation
Andy Yohn, Product Lead Access to the best, most recent rating information and bureau content can improve underwriting profitability and have a positive impact on your book of business. Now available as a service, future-proof insurers also get the ability to strategically manage deviations for the ultimate in speed to market. Many insurers depend on…
Blog Post
A CIO’s Legacy
“Legacy” is a weighty word, connoting the passage of time as well as the transference of wealth and wisdom. In our industry, it’s a word that comes up a lot, but typically in the context of hard-working-though-antiquated systems, where it’s generally wrought with some combination of resignation, frustration, or fear about how to maintain, kludge,…
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The Growth of Comparative Rating in Small Commercial: A Phase or the New Personal Lines?
I’ve been thinking a lot recently about how quickly the relationship between insurance carriers and independent agents is changing. (And, no, the irony of insurance and speed in the same concept is not lost on me.) New technologies and buying trends as well as changing market pressures are all playing a role. The result is…