Duck Creek Blog
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Navigating the Pace of Change in P&C Insurance

Falling behind

Compared to other industries, insurance has been slow to adopt new technology for several decades. Despite the availability of modern solutions delivered on software-as-a-service platforms, many carriers still rely on legacy, on-premises core systems for their most critical business functions. Carriers that find themselves in this unenviable position are challenged to build supporting ecosystems that let them to tap into new tools and services; to put data from myriad sources to work as competitive assets; and to attract innovative thinkers to workplaces that depend on outdated skill sets. Regardless of lines of business, financial stability, or established reputation, carriers that are unable to keep up with the pace of change—inside and outside of the insurance industry—face an unprecedented challenge keeping up with intensifying customer expectations.

External forces are necessitating fundamental changes to the way insurers do business. To measure the industry’s readiness to take on this challenge, Duck Creek Technologies commissioned Celent to survey carriers’ stances on the pace of change in insurance and the drivers causing this transformation. The results reveal that the P&C industry is undergoing only moderate acceleration of change, despite consumers’ expectations of radical improvements. Individual carriers—from regional insurers to multi-line Tier-1 carriers—have largely struggled to keep pace with demands placed on them by the broader marketplace.

Click here to download your complimentary copy of the full report.

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Michael Jackowski
Mike is Duck Creek’s chief executive officer and also serves on the Board of Directors. He brings more than 25 years of technology, operations and insurance-industry expertise to this global leadership role, in which he’s responsible for the company’s strategic direction and overall performance. As CEO, Mike shares his passion for the possible by aligning company goals and industry experts to deliver the solutions that drive business value for insurers worldwide. Prior to Duck Creek, Mike held several leadership roles at Allstate. He was senior vice president for the agency technology and sales business units, where he was responsible for strategic management and operations. He also led the business through a technology transformation that improved interactions and communications between the carrier’s employees, agents, and customers. He joined Allstate as the senior vice president of technology and operations, where he was credited for reinventing the insurer’s claims operations through modern technology and governance, a project that impacted 17,000 employees and involved 1,000 resources on three continents. This “Next Gen” claims initiative, which he spearheaded, was honored in 2008 with two illustrious industry recognitions: “Premier 100 IT Leaders,” by Computerworld magazine, and the Pink Elephant’s Information Technology Infrastructure Library Project of the Year award. Before joining Allstate, Mike was a managing partner for Accenture’s global claims and underwriting practice in the financial services group. In this role, he was responsible for Accenture’s overall claims and underwriting product strategy and direction, which included creating the company’s pioneering software solution, Accenture Claim Components, now Duck Creek Claims.