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Policy
Customer needs are evolving rapidly. Duck Creek Policy is a powerful and flexible policy administration system that enables carriers to service the complete policy lifecycle.
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Mergers & Acquisitions
- Sell-side M&A advisory
- Platform acceleration
- Divestitures and carve outs
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Empower your business users to drive change
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Learning Your Way
Choose from instructor-led training at a Duck Creek Technologies facility, on-site sessions at your location, or remote learning.
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Countries where OnDemand Claims originated in 2019
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Number of global users
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reduction in referrals through automated underwriting
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increase in quotes
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Number of claims per day our software has scaled to during a CAT event
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End to End Policy Lifecycle
Duck Creek Policy’s dynamic workflow and robust integration capabilities make it easy to quote policies – improving pricing speed and accuracy.
- Quick quote workflow – allowing carriers to define required data capture at different stages of the quoting process – providing streamlined quoting capabilities
- Optimized to take advantage of external data sources to speed capture of intake data
- Straight-through processing rules support low-touch and true no-touch quoting and issuance
- Automated quote proposal/letter generation
- Omni-channel, responsive user experience – connecting with customers and insureds on their terms
Intelligent underwriting assigns resources and provides guidance throughout the underwriting process. Underwriting Workbench offers additional add-on capabilities.
- Various levels of automated underwriting depending on the complexity of the risk
- Intelligent use of available data can further reduce the time to underwrite the quote or policy and drive appropriate workflow
- Account level access to view activity across the account
- Underwriter dashboard supports workload management and balancing
- Online collaboration and documentation to document underwriting process and decisions
Reduce quote conversion time and costs by converting all quote data to new business policy data.
- Full access to quoting and underwriting history
- Quote data automatically converted to new business policy data, eliminating re-keying
- Document triggering and pre-fill incorporated in issuance process
- Policy details provide access to policy notes, notifications, and attachments, creating an electronic file folder
Optimize underwriters’, CSRs’, and processor’s workflows, making mid-term policy changes with intelligent endorsement processing.
- Quickly view all endorsement activity across all terms of a policy – ensuring transaction accuracy
- Automated out-of-sequence and cross-term endorsements, reducing processing time and improving customer satisfaction
- Ability to view premium impact prior to transaction issuance – reducing the need to offset transactions
- Third-party information ordering and automated underwriting improve data accuracy, pricing, and underwriter performance
Capture exposures and premiums through regularly scheduled interim audits and final audits – managing both internal and external expectations of audit premium due or owed.
- Support for both interim and final audits
- Return premium held until audit on cancelled policies
- Post-audit declaration page
- Ability to void and waive audits
- Track audit transactions separately from mid-term policy transactions
- Monthly reporting and self-audit capabilities
Seamlessly renew policies through automated renewal processing.
- Accurately rate and underwrite renewal policies using effective date-driven rates and rules assignments
- Intelligently generate renewal policy documents, selecting the correct form edition dates
- Automatically issue renewal quotes or policies based on defined workflow and underwriting criteria
- Incorporate loss data and re-order third-party data during renewal processing
- Auto non-renew policies based on defined criteria or manually non-renew policies
Efficiently processed cancellations, either system-generated or manual, allow processors to focus on more complex customer requests.
- Automated cancellation processing based on defined rules
- Manually initiated cancellation
- Support for short-rate and pro-rata cancellations
- Cancellation notice generation
Reduce policy costs and recognize premium by quickly reinstating cancelled policies.
- Easily reissue, reinstate, and rewrite policies
- Notice generation based on the type of reissue, reinstate, or rewrite
- Automatically reactivate offset transactions
- System generated reinstate based on defined rules