The rating engine was honored for advanced technology in Celent’s most recent report
COLUMBIA, S.C.; Nov. 8, 2016 – Duck Creek Technologies’ property and casualty (P&C) insurance industry rating software was recognized with an XCelent Advanced Technology Award for the second consecutive time. Celent’s latest report, “North American Rating Engines: 2016 Property & Casualty ABCD Vendor View,1” provides an overview of 12 standalone rating engines based on information collected, product demonstrations and customer reference checks.
Duck Creek Rating was honored in the report’s Advanced Technology category, which evaluated each vendor’s system on several factors such as platform and modernity, user interface, data and adaptability/extendibility, integration, scalability and cloud readiness, and ease of change to name just a few. Celent previously reviewed standalone rating systems in 2013 and Duck Creek Rating was recognized as a solution leader for the same category and for Breadth of Functionality in thatreport.
“All of us at Duck Creek are thrilled that our rating software has earned this prestigious industry award,” said Patti Griffin, chief product officer, Duck Creek Technologies. “We strive to deliver the technology insurers need to quickly and accurately respond to agent and customer demand and are honored that our rating engine is being recognized for outperforming expectations.”
In the report, Celent noted that it views Duck Creek Rating “as a leading rating engine solution with very robust functionality out of the box, a modern UI, and powerful yet flexible configuration tools that work well for all lines of business.”
The review also included customer feedback on what they like best about the system and the report noted the following mentions: “Flexibility in creating solutions.” “Easily maintainable.” and “Duck Creek resources are extremely knowledgeable about insurance and leverage that knowledge when working with our teams.”
“As carriers continue to rapidly deploy highly innovative products, configurable rating solutions are becoming more desirable. Carriers are looking for flexible solutions that allow actuaries and product managers to be involved in the crafting of products”, said Karlyn Carnahan, research director and author of the report. “The Duck Creek rating engine has a very modern architecture that is fully XML based, proving to be one of the fastest to implement and flexible in managing rating algorithms, underwriting rules, and factoring tables.”
1Celent, “North American Rating Engines: 2016 Property & Casualty ABCD Vendor View,” by Karlyn Carnahan, August 30, 2016.
Duck Creek Rating is included in a suite that also incorporates Duck Creek Billing, Duck Creek Claims and Duck Creek Policy software. The configurable software is designed to work independently or as a combined approach to manage all aspects of the P&C insurance lifecycle. It can be deployed through an on-premise implementation or via Duck Creek On-Demand, a differentiated Software as a Service model.
About Duck Creek Technologies
Duck Creek Technologies is a leading provider of comprehensive P&C insurance software and services for insurers of all sizes worldwide. Employing progressive technology, Duck Creek solutions enable insurers to optimize outcomes and enhance engagement through advanced digital and data capabilities and integrated functionality that can be delivered via the cloud or on-premise. For more information, visit duckcreekstage.wpengine.com.