APRIL 18, 2016 – Today we begin the next chapter of our business. Backed by a joint venture between Accenture and Apax, Duck Creek Technologies will accelerate development of its products and software as service model to meet the needs of insurers located around the world. With a renewed focus on serving the insurance marketplace, our team will continue to deliver the superior technology that can handle today’s digital demands and tomorrow’s opportunities.
The joint venture is intended to further accelerate the development of Duck Creek products and technologies, leveraging advanced digital and cloud technology, and to extend the reach of Duck Creek in key markets. As part of the venture, Accenture will collaborate with Duck Creek to help insurers take advantage of the Internet of Things, Big Data analytics and other emerging technologies. Accenture will also be designated as a premier systems integrator and consulting partner for Duck Creek Technologies pursuant to a strategic alliance arrangement.
Duck Creek Technologies will gain access to substantial capital and management expertise through Apax Partners. This will enable further investment, both organically and through acquisitions, to fuel rapid expansion of Duck Creek products and capabilities – particularly Duck Creek OnDemand, a native Software as a Service capability delivered through the cloud. Combined, this capital, technology and professional services capability will enable new levels of end-to-end, cloud-based solutions for property and casualty (P&C) insurers.