Evaluation Based on Ability to Execute and Completeness of Vision
BOSTON–(BUSINESS WIRE)–Duck Creek Technologies has been recognized as a Leader in the September 2017 Gartner “Magic Quadrant for P&C Core Platforms, North America.” It is the third consecutive time Duck Creek has been designated a Leader by the research and advisory company.
“P&C insurance CIOs and their business peers are increasingly focused on speed to deployment and the ability to support new business models and emerging technologies,” wrote Jeff Haner, Gartner Research Director and the report’s author. “They seek core platform vendors that offer mature and extendable solutions with comprehensive functionality and out-of-the box-content. A proven track record of supporting relevant LOBs and a proven ability to support rapid implementations are essential. Given the significant consolidation this market has experienced, overall competitiveness as measured by sales execution is also key. To reflect these market realities, Gartner has more heavily weighted the evaluation criteria under Ability to Execute that deal with product or service offerings, sales execution, market responsiveness and customer experience.”
As per the report, this “Magic Quadrant provides a lens into the North American market for P&C core platforms aimed at Tier 1, Tier 2 and midsize Tier 3 P&C insurers — those with at least $50 million or more (or equivalent in direct written premium [DWP] value).” A complimentary report can be viewed here.
“Gartner defines the North American P&C core platform market as composed of offerings that are aligned with the concept of the digital business technology platform (see “Building a Digital Business Technology Platform”). These core platforms include elements such as:
- Core systems, including core modules for:
- Policy management, which provides end-to-end policy management and issuance — including quoting, rating, underwriting, policy generation and statistical reporting
- Billing management, which supports the entire insurance billing and collections cycle, including functionality such as electronic bill presentment and payment (EBPP)
- Claims management, which supports every phase of the claims process for P&C insurers, from first notice of loss (FNOL) through settlement and reporting
- Data repository, which uses a reference data model to centralize data from both core systems that are a part of the platform and other external systems
- Reporting and analytics, which provide prebuilt dashboards and reports with industry-specific key performance indicators and support for ad hoc analysis
- Portals and apps, which provide customers, agents and suppliers with a variety of functions from any device, such as sales and self-service, lead management, collaboration and billing
- Integration accelerators, which extend the functionality of the core platform by tapping an ecosystem of third parties offering additional functional capabilities and data sources,” as per the report.
“It is an honor to be recognized again by Gartner as an industry leader in the P&C insurance technology space,” said Michael Jackowski, CEO of Duck Creek Technologies. “Over the past year, Duck Creek has made enormous strides with our cloud-based OnDemand product, and we have a large and proven track record of successful implementations. With our aggressive and ongoing product releases and service quality, we’re helping insurers transform their businesses, create open systems, keep them current, and gain a competitive advantage in the marketplace.”
Duck Creek Policy, Duck Creek Billing, and Duck Creek Rating are part of a suite that also includes Duck Creek Claims. These codelessly-configurable solutions are designed to work independently or as part of a combined approach to manage all aspects of the P&C insurance lifecycle. They can be deployed on-premises or via Duck Creek OnDemand, a cloud delivery model.
In previous Magic Quadrant rankings, the company was listed as Accenture Duck Creek.
About Duck Creek Technologies
Duck Creek Technologies paves a genuine path to the future for P&C insurance companies. Decades of insurance experience underpin advanced technologies specifically designed to accommodate change—allowing carriers to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek solutions are available standalone or as a full suite. All are cloud-ready. For more information, visit www.duckcreek.com.
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