About Duck Creek’s Insurance Rating Software
Duck Creek Rating is a flexible and comprehensive solution that enables carriers to launch new and modify existing products across all lines of business and develop rates easily and efficiently. With low-code tools for defining new products—from rates and rules to forms, UI, workflows, and underwriting rules—and the ability to easily incorporate myriad data sources, Duck Creek Rating can be used as a standalone rating engine, or integrated into Duck Creek Policy for full policy lifecycle processing or quote-and-buy processing.
Streamline product management lifecycle support
Duck Creek Rating standardizes the product development lifecycle from requirement definition to approvals, configuration, testing, and completion. Duck Creek’s low-code tools and modern architecture empower carriers to develop new products and maintain existing products through configuration, delivering single-point-of-change capabilities by reusing product definitions across both Duck Creek applications as well as non-Duck Creek applications.
Leverage our product inheritance model to build products more efficiently
Historically, being able to take existing products and iterate on them to launch new ones has been an overly time-consuming and inefficient process – until now. Duck Creek’s unique inheritance model enables carriers to take existing product definitions and create new product versions using the previous version as a baseline and only making changes where needed. Whether you are looking to enter new regions or transform an existing personal lines product into a commercial lines offering, our solution’s inheritance capabilities help reduce repetition and errors across products and enable you to easily manage and consolidate all of your products under a single system, allowing you to get to market faster.
Improve your pricing and underwriting strategy with what-if modeling
The ability to stress-test different rate change or underwriting rules scenarios is critical to determining what adjustments best fits your business goals. Rating’s “what-if” modeling lets you easily evaluate the rate change and underwriting rule impact on a book of business prior to moving any product update or change into production.
The rating engine was something that stood out for Duck Creek over the competitors that we looked at. And once we got into that decision process, we took it a step further and did a proof of concept with Duck Creek. And that really sold us.
Rating case study: Coverys
Whether you’re launching a greenfield initiative, changing providers, or looking to make a digital transformation, our multi-faceted team of insurance and technology experts can help get you there.