About Duck Creek’s Insurance Rating Software
P&C insurance rating systems are information juggernauts. The volume, myriad sources, speed, and constant change of data make it uniquely challenging to model, price, and handle large schedule policies and process complex claims. Duck Creek’s insurance rating software is built to seamlessly handle the complex troves of data P&C companies generate daily.
Duck Creek Rating’s best-in-class predictive modeling capabilities let you prepare for your underwriting workload, produce data for filing, and evaluate the rate change impact on a book of business prior to moving any product update or change into live production.
Our insurance rating engine helps you avoid legacy system updates, and define and deliver rate changes and new products quickly. Your team can configure user interfaces, security, and workflows to meet business demands, all without the need for custom coding.
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.
Increase Consistency and Improve Efficiency
Drive standardized business process management throughout the product development lifecycle via task and workflow configuration. With our insurance rating software, you can easily increase operational efficiency with straight-through processing and accelerated rate changes and approvals. Manage complex, large schedule policies – and process back-dated, out-of-sequence endorsements – in minutes, not weeks.
Utilize advanced codeless configuration capabilities to maintain task creation, assignment rules, and workflows.
Reduce System Time and Costs
Our insurance rating system utilizes single-point-of-change functionality – incorporating rules, rating, forms, pages, and data into one product definition, enabling updates to be completed once and reflected across the enterprise.
Duck Creek supports all personal and commercial lines of business for P&C carriers, from relatively straightforward personal policies to the complex, constantly evolving, massive schedules of some of the world’s leading medical professional liability (MPL) insurers, with a P&C insurance rating engine built for volume, complexity, speed, and – most of all – change.
Duck Creek Rating can be utilized as a black-box rating engine (stand-alone, integrated into an insurer’s existing policy solution) or as a companion to Duck Creek Policy.