Boston, March 15, 2022 (GLOBE NEWSWIRE) — Duck Creek Technologies (Nasdaq:DCT), a leading global provider of technology solutions for the property and casualty insurance industry, announced that Philadelphia Insurance Companies (PHLY) selected Duck Creek Policy and Duck Creek Producer of his complete suite of software-as-a-service (SaaS) central system solutions to launch a new commercial insurance line in North America. Philadelphia Insurance Companies is a leading national property and casualty insurer that designs, markets and underwrites commercial products and services, and is a member of the Tokio Marine Group (TKOMY), from Japan the oldest and largest P&C insurer.
Philadelphia Insurance Companies prepares to enter a new line to enhance its commercial offerings in the US in 2023. After careful consideration of market-ready solutions, they chose Duck Creek OnDemand for its scalability, extensibility, and ease of product launch commercial lines using models with low code configurations. duck creek also offered PHLY a digital-first approach through Duck Creek Producer to optimize customer experience and improve existing distribution channels.
With these modern insurance capabilities, Philadelphia Insurance Companies will be able to implement a simple, low-touch policy that leverages third-party content, along with prefill and straight-through processing tools to deliver a competitive new offering to insurance buyers in the small commercial market.
“We identified a market opportunity and a need in the small commercial market that we wanted to address quickly, which meant delivering an offering without any back-end constraints or integration challenges,” said Bob Pick, CIO of PHLY. “Duck Creek’s off-the-shelf system is beneficial because it allows us to achieve this vision, while giving us the ability to scale as the business grows and our solutions become more innovative for smaller customers. commercial.”
“I have long admired Philadelphia Insurance Companies and their mission to provide innovative products to niche insurance markets,” said Michael JackowskiCEO of Duck Creek Technologies. “The most effective partnerships begin with goal alignment, and we share a deep belief in improving customer value through continuous innovation. This is a great opportunity for both companies to work together and create a new standard for small commercial insurance solutions in North America.
On Philadelphia Insurance Companies
Philadelphia Insurance Companies designs, markets and underwrites property and casualty and professional liability insurance products that integrate coverage and value-added services for certain industries. The Company is rated “A++” (Superior) by AM Best Company and “A+” for counterparty credit and financial strength per Standard & Poor’s. In business for 60 years, PHLY is nationally recognized as a member of Ward’s Top 50, one of the Best Places to Work in Insurance, and on Forbes’ list of America’s Best Midsize Employers. The organization is strategically located across United States to provide superior service. For more information, please visit www.PHLY.com.
On Duck Creek Technologies
Duck Creek Technologies (Nasdaq:DCT) is a leading provider of core systems solutions to the property and casualty insurance industry. By accessing Duck Creek on demand, the company’s software-as-a-service enterprise solution, insurance companies are able to navigate uncertainty and seize market opportunities faster than their competitors. Duck Creek’s feature-rich solutions are available on a standalone basis or as full suite, and all are available through Duck Creek OnDemand. For more information, visit www.duckcreek.com.
Duck Creek Technologies
Source: Duck Creek Technologies