BOSTON--(BUSINESS WIRE)--Duck Creek Technologies’ insurance policy administration software (Duck Creek Policy) received two XCelent Awards in analyst firm Celent's newly-published report, “North American Policy Administration Systems 2018.” The report, which contains in-depth profiles of 33 policy admin systems, can be viewed here.
Duck Creek Policy took top honors in two categories: Breadth of Functionality and Depth of Service. The Breadth of Functionality award is based on:
- Functions and features provided in base offering
- In-production lines of business and number of deployments for each
- User experience
The Depth of Service award is based on:
- Size of professional services and support team in the region
- Insurers’ post-implementation experiences
As the authors of this Celent report noted, “More recently, some carriers are focusing on expanding their product set with more product innovation. Carriers are utilizing more complex rating schemes and using a wide variety of data elements in their rating algorithms... Being able to take advantage of these trends requires the ability to rapidly make product changes, ingest third party data easily, and easily change business rules. Highly configurable product development environments are a requirement to deliver rapidly changing products."
In bestowing these awards, Celent noted that “Duck Creek Policy continues to enjoy significant market acceptance... It remains one of the strongest policy administration solutions for all lines of business.”
“Offering P&C carriers a policy administration solution that lets them keep pace with a highly fluid and increasingly demanding marketplace, and backing it with the most experienced team in the business, are our goals every day,” said Patti Griffin, Chief Product Officer at Duck Creek Technologies. “We’re extremely proud to stand behind the most advanced, flexible, and functionality-rich product on the market, and honored to be recognized for our achievements by Celent.”
“As organizations increasingly adopt transformation initiatives, they look for partners who can help accelerate the speed of innovation through software solutions and, most importantly, through thought leadership,” said Karlyn Carnahan, Head, The Americas, Property & Casualty for Celent. “These results demonstrate the increasing investments Duck Creek is making in digital transformation, and the trust insurers are placing in them to help them on this journey.”
The XCelent Awards are designed to help financial institutions and technology providers stay abreast of industry trends by evaluating the shifting vendor marketplace and awarding technology best practices.
About Duck Creek Technologies:
Duck Creek Technologies paves a genuine path to the future for P&C insurance companies. Decades of insurance experience underpin advanced technologies specifically designed to accommodate change - allowing carriers to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek solutions are available standalone or as a full suite. All are cloud-ready. For more information, visit www.duckcreek.com.