Smarter Decisions

Made on Duck Creek.

There’s a new standard for specialty insurance that is redefining how fast insurers can identify and capitalize on opportunities and quickly become the market leaders. Because specialty insurance covers such a wide variety of risks like transportation, aviation, professional liability, construction, excess liability, or unique risks requiring manuscripted forms and custom rating – flexibility, configurability, and product inheritance are fundamental for delivering market leading specialty products.

Benefits

Accelerate business growth

Tailor coverage to insureds’ needs by unifying multiple data sources such as roof quality and risk perils, policyholder credit score, home telematics, and fraud risk protection to create a single source of truth that captures customer intent. Make products that incorporate non-traditional variables for pricing and discounts that incentives producers and influence customer behavior.

Tackle emerging and complex risks

Managing new and complex risks is simplified with tools that empower underwriters and claims handlers with the ability to make faster and more informed decisions. As market conditions or strategies evolve, you can adjust workflows with agility to ensure that experiences remain efficient and productive.

Design ideal producer experiences

There’s no one-size-fits-all approach for bringing products to market and serving customers. Whether your business works with agents, brokers, wholesalers, or MGAs – in close collaboration or by offering self-service – you can define the experiences that make it easy do business no matter the distribution channel.

The combination of the full-scale functionality of the Duck Creek Suite and its ability to offer these capabilities as a cloud solution makes Duck Creek the ideal business partner for this highly strategic initiative.

Matt Bates

Berkshire Hathaway Specialty Insurance VP of Information Technology

Our loss ratios are 20% lower than what we expected when we started this business. That’s due in part to our ability to make changes in Duck Creek and deploy them into production very quickly when underwriters see emerging trends.

Kardiner Cadet

SVP of e-Commerce

Specialty Lines Solutions

Rapid product development

Business intelligence

Complex risk underwriting

Complex claims handling

Digital
Distribution

Producer relationship management

Implement a product factory approach to quickly create products and experiment

Learn About AXIS’s Product Factory

Capabilities Enabled

Rationalize product portfolios using an inheritance model to create base products that act as reusable components for differentiated hierarchies
Enable business experts to rapidly iterate on product definitions including forms, endorsements, coverages, business rules, or user interfaces without the need for IT intervention
Leverage industry content templates and kits as the base components for specialty lines to accelerate the development process

Benefits

Increased speed to market
Reduction in product development resources
Stay current with industry actuarial data

Identify new opportunities, quickly determine the viability of new products, and track performance

Learn About Duck Creek Insights

Capabilities Enabled

Create a single source of truth that centralizes data across insurance core systems, other internal systems, and external data feeds
Maintain a timely view of the risk, regulatory, and economic landscape with tools that ease data mapping, business rules management, and metrics development
Develop persona-based reports and dashboards that answer common operational or management questions and provide insights to executives, underwriters, and claims handlers

Benefits

Improved data completeness and quality
Faster decision making
Advanced analytics

Empower experts in their markets to construct the right products

Learn About Duck Creek Policy

Capabilities Enabled

Streamline workflows for complex, high-touch underwriting activities like account reviews, renewals, and the evaluation, negotiation, and pricing of risk
Incorporate complex rating variables and algorithms within underwriting to accurately assess unique risks, including for large schedule policies, without sacrificing performance
Embed data and predictive analytics at every decision point to ensure proper segmentation, risk selection, and price adequacy

Benefits

Increased underwriter productivity
Lower loss ratios
Higher customer satisfaction scores

Take out the drudgery and let your adjusters focus on claims themselves to get the right outcomes fast

Learn about Duck Creek Claims

Capabilities Enabled

Design a claims lifecycle that can handle any scenario and quickly make adjustments to rules and workflows as your experience with new types of claims increases
Embed data and predictive analytics at every decision point to ensure proper claims triaging and accurate loss evaluation
Orchestrate a variety of stakeholders including claims adjusters, litigators, and vendors to efficiently help customers recover from losses

Benefits

Increased claims handler productivity
Lower loss adjustment expenses
Shorter claims throughput times

Be the first to meet your producers’ needs and win their loyalty

Learn about Duck Creek Producer

Capabilities Enabled

Extend underwriting capabilities to producer portals or integrate with broker management systems, making it easy to choose your products
Automate the intake of new business submitted via email in ACORD PDF file format for processing submissions within point of sale, CRM, or policy systems
Cross-sell products with a lead line that a broker may be writing with another commercial carrier

Benefits

More productive and loyal producers
Faster turnaround on quoting requests
Increased cross-sell and up-sell

Improve onboarding, compliance, and compensation for better engagement with producers

Learn About Duck Creek Distribution Management

Capabilities Enabled

Streamline recruiting, contracting, licensing, and appointments to quickly get producers up to speed and ready to sell policies
Create differentiated commission plans, profit-sharing schemes, or non-monetary incentives that steer producers towards the right outcomes
Collaboratively build action plans, define goals, track performance, and stay engaged with producers to successfully execute go-to-market strategies