Duck Creek and Adiona team up to revolutionise UK Motor Insurance with multi-faceted SaaS solution and scalable business model

Rhea-AI Summary

Duck Creek Technologies (Nasdaq: DCT) has partnered with UK insurtech start-up Adiona to revolutionize motor insurance through data-driven pricing. Adiona, launched in September 2021, aims to provide fair premiums based on individual driving habits using AI and telematics. Duck Creek's On Demand SaaS platform supports Adiona in creating tailored insurance products. CEO Michael Jackowski highlighted the partnership's potential to disrupt outdated insurance models. Adiona plans to launch its services in May 2022, focusing on customer-centric solutions that reward responsible driving.

Positive

• Partnership with Adiona enhances Duck Creek's market presence in the insurtech sector.
• Adiona's innovative use of AI and telematics may lead to increased customer satisfaction.
• Duck Creek's On Demand platform provides scalability and flexibility for new entrants.

Negative

• Market competition may intensify as traditional insurers adapt to Adiona's disruptive model.

London, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Duck Creek Technologies (Nasdaq: DCT) announced today that it has partnered with a new UK insurtech motor insurer, Adiona, to offer insurance policies with premiums built on data / telematics, artificial intelligence and machine learning that provide fair and transparent pricing based on the driving habits of each insured customer.

Launched in September 2021 with experienced insurance, consumer and technology executives, Adiona is a customer-focused start-up that aims to change how drivers are charged for motor insurance. The company has developed a modern tech-first insurance product that leverages data at scale to deliver a revolutionary customer experience.

Adiona chose Duck Creek for the strength of its On Demand SaaS (Software as a Service) solution and the breadth of the offerings available through its partner ecosystem. Duck Creek’s platform gave Adiona the flexibility of allowing this new entrant to the motor insurance market to create a sustainable business and provide coverage tailored to each consumer's unique circumstances, with the most exacting of technologies for policy rating and pricing.

Duck Creek Technologies CEO Michael Jackowski said:

“Adiona is set to disrupt the motor insurance industry in the UK by using evergreen technologies and more data than ever before to deliver fairness and transparency to drivers. The potential for it to change the landscape of motor insurance is unparalleled, and we at Duck Creek are proud that it has chosen us as its partner to build a new organisation based on SaaS solutions that scale with businesses of any size. Insurers in this space that are still shackled to legacy systems and outdated business models are officially on notice.”

Paul Harvey, Founder/CEO of Adiona, said:

“The problem with motor insurance today is that it’s expensive and based on other people’s driving - but it shouldn’t be. Everyone should have adequate and affordable motor insurance and be rewarded for good, responsible driving. Using best-in-class hyper scalable SaaS technology via the Duck Creek platform, we will provide simple, ongoing insights into actual driving data - highlighting good and bad driving habits and rewarding good drivers. We are thrilled to be Made on Duck Creek, focusing our resources on pricing, insured pool management, crash and claim, and customer engagement algorithms to deliver a truly customer-centric experience. Our Duck Creek relationship gives us scalability, security and time to market competitive advantage.”

Duck Creek On Demand is a cloud-based, SaaS delivery solution that includes a full suite of end-to-end applications, providing all services, support, and computing resources carriers need. By using the best available technology and continuously delivering new functionality to solve ever-changing P&C insurance business challenges, On Demand enables a fundamentally new approach for insurance carriers to compete in today’s industry.

About Duck Creek Technologies

Duck Creek Technologies 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 standalone basis or as a full suite, and all are available via Duck Creek OnDemand.

For more information, visit www.duckcreek.com and register to attend Duck Creek’s annual user conference, Formation ‘22, taking place March 6-8, 2022.

About Adiona Technologies Limited Adiona, is a London-based motor insurtech start-up that will disrupt the insurance market by delivering simplicity, savings and great customer experience through AI and real-time data. Expecting to launch policies in May 2022, Adiona commits to offering insurance that is fair, transparent and puts the customer first.

For more information, visit www.adiona.com Duck Creek PR Contacts

Helen Wright
Lysander PR Limited

helen@lysanderpr.com 07842 729 579

Steve Colton
Lysander PR Limited

steve@lysanderpr.com 07554 889 056

Roddy Langley

Lysander PR Limited

roddy@lysanderpr.com 07547 901 618

Adiona PR Contact

Bill Shaw
Four PR and Marketing

bill@four-pr.com

FAQ

What is Duck Creek Technologies' recent partnership?

Duck Creek Technologies has partnered with UK insurtech Adiona to innovate motor insurance pricing based on driver data.

When will Adiona launch its insurance policies?

Adiona plans to launch its insurance policies in May 2022.

How does Adiona's approach to motor insurance differ from traditional methods?

Adiona offers fair premiums based on individual driving habits using AI and telematics, as opposed to the outdated models used by traditional insurers.

What technologies support Adiona's insurance offerings?

Adiona leverages Duck Creek's On Demand SaaS platform to provide scalable and flexible insurance solutions.