New policy platform to help simplify operations while enhancing customer service
NEW YORK; June 29, 2015 – Penn National Insurance has selected Accenture (NYSE: ACN) to modernize its property and casualty insurance system. The regional insurer will use Accenture Duck Creek Policy software for quoting, underwriting, and policy administration to manage business demand, streamline processes for increased efficiencies, enable faster response to market changes, while continuing to provide exceptional service to customers within the 11 states in which Penn National Insurance operates.
The comprehensive policy software includes the Accenture Duck Creek Rating engine and Accenture Duck Creek Templates, out-of-the box templates with current ISO, NCCI and bureau-based content. These two components will support all of Penn National Insurance’s commercial lines: business owners policy, commercial auto, commercial property, commercial umbrella, general liability and workers’ compensation, by helping to ensure that products are priced accurately and comply with regulatory standards while also facilitating rapid development and deployment of new products.
“Considered a super-regional carrier, we need to deliver at the same level as a national-level insurer and provide the quality service that agencies expect. We selected Accenture Duck Creek software for its functionality that will enable us to react quickly to market changes, manage our own direction, and take advantage of upgrades that can future-proof our platform and increase our ROI,” said Britta Schatz, CIO, Penn National Insurance. “Our goal is to be the primary carrier in the agencies we support and with the capabilities provided by the new platform, we’ll be able to achieve that objective.”
“We are pleased that Penn National Insurance has chosen Accenture Duck Creek software as the foundation of its policy system transformation,” said Michael A. Jackowski, global managing director, Accenture Duck Creek. “Through our integrated platform for quoting, underwriting, rating, and product configuration, we will help Penn National Insurance improve its responsiveness to market changes and provide a superior user experience for independent agents. We are delighted to be a part of Penn National Insurance’s overall growth strategy.”
Accenture Duck Creek Policy and Rating are two of the core components in a suite of software that also includes billing and claims solutions. Each component can be implemented independently or combined for an integrated approach to manage all aspects of the P&C insurance lifecycle. Value can be attained via on-premises software or Duck Creek On-Demand, a Software as a Service offering.
About Penn National Insurance
Penn National Insurance underwrites insurance in nine mid-Atlantic/eastern states and two mid-western states, selling commercial and personal property-casualty insurance through its network of independent agencies.
Accenture is a global management consulting, technology services and outsourcing company, with more than 336,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
Accenture Duck Creek is a software suite offering comprehensive, full-featured property & casualty insurance software and SaaS solutions. Its configurable solutions are designed to work as a full end-to-end suite or as individual standalone components that adapt quickly and seamlessly to handle the unique needs of insurers of all sizes. Duck Creek software enables carriers to make better decisions in a real-time environment, streamline operations and improve their level of customer service. For more information, visit www.duckcreek.com.