BOSTON--(BUSINESS WIRE)--Duck Creek Technologies announced today that attendance at its annual flagship event, Formation, surpassed all previous years’ participation. This year’s conference in Orlando, Florida included more than 250 representatives from more than 70 top P&C insurers worldwide, a strong industry analyst showing, and more than 100 key players from Duck Creek’s rapidly-growing partner ecosystem.
To kick off the event, Duck Creek unveiled its new P&C innovation lab, Launchpad. This dynamic, hands-on environment challenges industry leaders to think differently about the future of the marketplace, their roles in that future, and the ways in which technology can help power strategies and innovation necessary to succeed. At the close of Formation ‘18, Launchpad will move to its permanent home at Duck Creek’s new headquarters in Boston’s innovation district.
During his keynote presentation, Duck Creek CEO Michael Jackowski outlined his vision of a future in which insurance carriers are able to do significantly more for policyholders and the uninsured. He challenged attendees to leverage the growing capabilities of technology to drive down operating expenses - unleashing capital that can be put to immediate use to improve individual companies and offer broader and more affordable policies to the people and businesses that count on them. Jackowski pointed out that, while the Duck Creek customers in attendance at Formation enjoy an average 23.5 percent expense ratio compared to the industry average of 27 percent, there is still work to do. To optimize digitally, contended Jackowski, carriers need to transform their thinking and working to the models of platform companies, not product companies, and that SaaS deployment sits at the heart of that transformation.
“Duck Creek’s mission has always been to provide carriers with the solutions they need to make work more productive and more efficient, and to position them well for the future through digital technologies,” Jackowski said. “Emerging cloud technologies offer abilities to scale more affordably, innovate faster, and more rapidly deploy valuable features to our customers. That’s why our SaaS solution, Duck Creek OnDemand, is the single largest investment we are making as a company.”
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. All of the company’s offerings are available standalone or as a full suite, and all are available via Duck Creek OnDemand, the provider’s SaaS solution for the P&C insurance industry. For more information, visit www.duckcreek.com.