Duck Creek Technologies (Bolivar, Mo.) has released version 4.1 of its EXAMPLE Platform, which the vendor says supports the Duck Creek Rating, Duck Creek Policy Administration and Duck Creek Billing products on an integrated platform for personal, commercial and specialty lines of business.
Owing to new efficiencies designed into its core infrastructure, EXAMPLE Platform 4.1 provides enhanced performance capabilities and positions carriers to take advantage of technology advancements, a Duck Creek press release. The 4.1 release enables carriers using Duck Creek Policy Administration to rapidly develop insurance products for their chosen markets while gaining integration efficiencies with third-party applications, according to the press release.
The Duck Creek source lists the following enhancements to Duck Creek Policy Administration on the 4.1 platform:
Direct-to-consumer shopping options. Insurers can quickly respond to ever-changing consumer behavior models with improvements to sales channel websites. In addition, insurers can display "shopping options" modules on their websites that provide their agents, partners and customers, with the opportunity to view price differences in policy premiums as they choose coverage options.
Reusable integration modules. Insurers can reduce time to market with improved integrations to third-party applications -- integrations can be built into insurance products by business users and then re-used in new product development.
Enhanced integration framework. Leveraging industry partnerships for robust data and reporting capabilities, the EXAMPLE Platform' 4.1 provides insurers greater efficiencies in rating, binding and policy issuance processes.
Duck Creek President and Chief Executive Officer Steve Hall comments, "The 4.1 Platform Release demonstrates Duck Creek's strong commitment to our customers and their business strategies to drive profitable premium growth in this hyper-competitive marketplace. Carriers continue to validate that the platform's flexibility and deep functionality enables them to introduce innovative insurance products more quickly, while improving retention for sustained market leadership."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio