Powerful tools for business users to streamline insurance product development
Duck Creek Product Studio delivers powerful tools to conceptualize, test and launch insurance products and reduce project time and development costs through standardized requirement wizards and automated configurations.
Comprised of four components that handle modeling, publishing, change, and validation, it’s built around the principle of product lifecycle management, enabling insurers to identify needs, test ideas and put them into production quickly. Product Studio manages all aspects of insurance product creation and offers complete traceability from a product change to the requirement driving the change.
Insurers can predict the impact of a product change on their current book of business with “what if” impact modeling, policy data overrides, detailed and summary results, and the ability to assemble scrubbed data sets. This component monitors the actual yield of product changes over time and also can be used to predict underwriting workload and product information to assist with filings.
Publish enables users to access current product documentation, creating a value-add service without disrupting current business processes and resulting in centralized business-friendly product documentation that is always current. Publish requires no process changes and minimal training for most users.
A toolset that grants business users the ability to perform the types of product changes that occur most often, quickly complete an isolated set of product changes and instantly see the results. Through a business-friendly table editor and quick-change wizards and product views. Change reduces IT involvement, development times and costs, and accelerates product changes.
Tools to design, model, manage and deliver quality products while streamlining the requirements. Validation enables interview-style requirements collection, project dashboards and configurable governance workflow and queues by user. It drives consistency across all types of products and traces requirements from idea to production, thereby simplifying the product development processes, and reducing requirements churn and development costs.