Core Specialty Partners with Duck Creek Technologies for Increased Speed to Market and Operational Efficiency
Duck Creek Technologies (NASDAQ: DCT) announced its collaboration with Core Specialty Insurance Holdings to implement Duck Creek OnDemand, a SaaS platform tailored for the P&C insurance sector. This partnership aims to enhance operational efficiency and innovation as Core Specialty targets significant growth over the next three years. Duck Creek’s solutions are designed to empower insurance carriers with advanced technology and improved market responsiveness. Industry experts express optimism about this development, highlighting its potential to strengthen Core Specialty’s competitive position.
- Core Specialty is implementing Duck Creek OnDemand to enhance operational efficiency.
- The partnership aims to support Core Specialty's goal of tripling in size over the next three years.
- Duck Creek's SaaS solutions provide a scalable platform that can meet evolving business needs.
- None.
Boston, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Duck Creek Technologies (NASDAQ: DCT) announced today that Core Specialty Insurance Holdings, Inc. and its subsidiaries (“Core Specialty” or the “Company”) will implement Duck Creek’s solutions via Duck Creek OnDemand, the provider’s SaaS platform for the P&C insurance industry.
With its sights set on becoming the leading specialty insurer, Core Specialty is moving swiftly toward its goal with a unified set of powerful SaaS solutions while intensifying its focus on product innovation and distribution via the nation’s largest specialty line brokerages. Core Specialty sought a next-generation technology platform capable of delivering unmatched operational efficiency, harnessing data from myriad sources, and empowering distribution partners with best-in-class ease of doing business. Duck Creek’s Professional Services arm is handling the implementation of all solutions, as well as developing a proprietary API-based connection to the broker ecosystem Core Specialty is cultivating.
"Core Specialty is truly 'ready to go,' a theme we are emphasizing as part of our Company rebranding,” said Jeff Consolino, President & CEO of Core Specialty. “Collectively and in each of our specialist niche business units, we intend to operate with strong entrepreneurial spirit, drive, speed, agility, and empowered decision-making. Duck Creek OnDemand will give us the important tools we need from a technical perspective to continue pursuing our goals. This is a decision we know will serve us well into the future as we grow our business with greater speed to market and critical business intelligence.”
Duck Creek’s OnDemand end-to-end SaaS solution provides all of the services, support, and computing resources needed to help carriers move faster and more efficiently than ever before. By leveraging the best available technology and continuously delivering new functionality to solve ever-changing P&C insurance business challenges, OnDemand enables a fundamentally new approach to competing in today’s industry—one where technology supports strategy rather than dictating it, and where carriers are empowered to focus on innovation in entirely new ways.
“Core Specialty’s digital strategy is quickly building impressive momentum and scale,” said Marc Stad, Founder and Managing Partner of Dragoneer Investment Group, a key investor in Core Specialty. “By selecting Duck Creek OnDemand to power their business, Core Specialty is strengthening their leadership position in the rapidly-modernizing P&C insurance sector— and we are excited to see what they can accomplish with the support of OnDemand’s highly innovative solutions.”
“Core Specialty’s scale and geographic reach require SaaS solutions that can support all of its operations now, as well as scale and speed to meet its goal of tripling in size over the next three years,” said Michael Jackowski, CEO of Duck Creek. “Our team is proud to support our longtime customer as they take this important step forward in their journey, and to provide the solutions and expertise they need to achieve operational excellence and provide their customers and distribution partners with service excellence. We’re excited to expand our relationship and look forward to working together to help Core Specialty accelerate their success.”
About Core Specialty:
Core Specialty offers a diversified range of property and casualty insurance products for small to mid-sized businesses. From its underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge; offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers. Core Specialty is an insurance holding company operating through StarStone Specialty Insurance Company, a U.S. excess and surplus lines insurer, and StarStone National Insurance Company, a U.S. admitted markets insurer. The Company is rated A- (Excellent) by AM Best. For further information about Core Specialty, please visit www.corespecialty.com.
About Duck Creek Technologies:
Duck Creek Technologies (NASDAQ: DCT) is a leading provider of core system solutions to the P&C and General insurance industry. By accessing Duck Creek OnDemand, the company’s enterprise Software-as-a-Service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek’s functionally rich solutions are available on a stand-alone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.
Core Specialty Media Contact:
Sam Reinhardt
Prosek Partners for Core Specialty
Pro-corespecialty@prosek.com
646.818.9035
Duck Creek Media Contact:
Paul Rechichi
Racepoint Global
617-624-3295
prechichi@racepointglobal.com
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