If core systems are the heart and lungs of an insurance company, then data is its lifeblood – which is why Duck Creek is so excited to announce the availability of the new data management, reporting and analytics platform, Duck Creek Clarity! Clarity allows insurers to unify their Duck Creek Policy, Billing, and Claims data with external data and put it to work to make smarter and faster decisions. If a carrier’s objective is to uncover novel observations about its customer segments, understand the performance of its agents or brokers, identify areas of process improvement to reduce claims cycle time, or feed its data into downstream AI/ML pricing models or other systems, data in Clarity has been curated (i.e., cleansed, flattened, aggregated), making it easier than ever before to share and embed intelligence throughout the organization.
Over the past few years, Duck Creek’s customers have found success building more data-driven organizations through the previous product offering, Duck Creek Insights. Now, with Duck Creek Clarity, we are advancing data-driven innovation within the data analytics space and introducing a dynamic product that simplifies data complexity. Read on to learn more.
See Also: Register for our webinar to see a preview of Clarity
A Modern Data Management System in an Evolving World
Data is more important than ever. Between increasing insured losses due to natural catastrophes, rising costs of fraud, and the explosion of new data sources such as connected devices, insurers must be able to take meaningful action using large amounts of data effectively and accurately.
Our previous Insights product met the needs of insurers today. However, Duck Creek realized that as its customers and the broader market reached new levels of data maturity, required more volumes, velocity, and access to data, and began to embrace new technologies such as generative AI, that the analytics offering needed to evolve. Duck Creek Clarity is purpose built as a brand new platform with those needs in mind such as data velocity, smart access controls, and the power to prepare data to be consumed by data science teams and machine learning models.
Key areas where Clarity improves upon the existing strengths of its Insights predecessor:
Faster Data Access, Higher Availability, Scalability and ReliabilityUnder the hood, Duck Creek has evolved the architecture of the data model to not only continue leveraging the power of Azure, but also take advantage of the Snowflake Data Cloud. For insurers, this will mean faster access to data in Clarity, as well as other applications, analytics tools, or other internal systems.
Improved Data GovernanceClarity makes it easier to empower different teams to access data in a safer and more responsible way. Clarity has been natively set up to be more flexible in providing insurers with the ability to set different levels of permissions and controls for data access and data masking based on user roles. These configurable capabilities will make it easier to meet compliance and regulatory mandates.
No More Upgrade ProjectsNo more upgrades…ever. Clarity leverages the Duck Creek “Active Delivery” approach to automatically deliver continuous updates of new enhancements and customer requests every two weeks. This approach ensures carriers never have to put business priorities on pause and the users can adopt new features programmatically to drive faster innovation.
Bringing Forward the Best Parts of Insights
Duck Creek Clarity continues to be analytics package independent. This means an insurer can ingest data into any reporting interface of its choosing. To provide a bridge into this new analytics offering, Duck Creek remains excited to continue providing pre-built Microsoft Power BI reference reports that can be easily configured to an insurer’s preferences. Duck Creek now has 20+ pre-built supported reports. Additional reports continue to be added as needed based on market feedback.
The Future Vision: Elea
Clarity is the first of many steps in Duck Creek’s new commitment to investing in data and analytics, and in transformational solutions (generative AI) that reshape the insurance carrier’s relationship with data via a more intelligent and adaptable Duck Creek Suite. In the months and years ahead, Duck Creek will be working to bring new capabilities and offerings to market, currently being developed under the Duck Creek Elea initiative, starting with Clarity. Duck Creek is excited about the capabilities that Clarity will unlock for carriers in helping build more data-driven businesses and reimagine the future of insurance for the better.