Duck Creek Recognizes Ecosystem Partner, LTI, as Formation ’22 Hatch-a-thon Champion
Duck Creek Technologies (Nasdaq: DCT) announced the winner of its first Hatch-a-thon at Formation ’22, recognizing LTI for developing a solution to streamline insurance quoting using AI and Duck Creek APIs. The event attracted 36 teams and aims to foster innovation in the P&C insurance industry. LTI's award included a $1,000 donation to the Ukrainian Red Cross Society. The Hatch-a-thon encourages partners to enhance the Duck Creek platform while addressing operational challenges within the insurance sector.
- LTI's solution reduces data entry time and acquisition costs for insurers.
- Engagement of 36 teams fosters innovation within the Duck Creek platform.
- Recognition of innovative partnerships can strengthen market position.
- None.
Inaugural partner ecosystem competition garners excitement around innovation and collaboration
Boston, March 16, 2022 (GLOBE NEWSWIRE) -- Duck Creek Technologies (Nasdaq: DCT), a leading, global technology solutions provider to the property and casualty (P&C) insurance industry, announces the company has recognized LTI as the inaugural “Duck Creek Hatch-a-thon” winner at Formation ’22. This year is the first year Duck Creek has opened its Hatch-a-thon to external guests.
Duck Creek and EY, a global leader in assurance, tax, strategy, transaction and consulting services, who was the premier sponsor of the Hatch-a-thon, welcomed members throughout the global developer community to compete over the course of 36-hours. Duck Creek recognized the Hatch-a-thon as an opportunity for partners and customers to show off their skillsets and share their ideas to enhance the value of the Duck Creek Platform. This year’s session sparked interest from 36 teams whose projects were judged by a panel based on innovation, product impact, business impact, and execution.
This year’s winning team from LTI, produced a one click quote from existing policy documents using their solution SWITCH. Their solution leverages the power of artificial intelligence (AI) and Duck Creek APIs to reduce the time-consuming data entry process to provide an insurance quote for a customer while also reducing the cost of customer acquisition for carriers and agents. The solution can be extended to multiple use cases such as book transfer/rollover and legacy to Duck Creek Policy Migration.
“It is critical that we continue to advance strategic innovation within the industry,” said Quinn Easterbrook, Chief Enterprise Architect at Duck Creek, “and it is even more exciting when we are creating a forum where our customers and partners get to be a part of that.”
Other Duck Creek ecosystem partners who competed in this year’s Hatch-a-thon were:
- Atos
- Coforge
- CogniSure
- Cognizant
- EY
- Hexaware
- HTC
- Mindtree
- Planck Data
- Xceedance
Duck Creek was delighted to have a handful of Hatch-a-thon participants from LTI on stage at Formation ’22 to accept their award and prizes, which included a
About Duck Creek Hatch-a-thon
Duck Creek Hatch-a-thon encourages the development of new and innovative ideas that advance on-demand, cloud and software-as-a-service technology solutions to rapidly improve insurance carriers’ core technology systems, as well as unique concepts that address insurance carrier operational pain points.
Designed as a 36-hour innovation marathon, Duck Creek brings together its internal teams and its developer community to upskill, build amazing solutions and hatch new ideas that will further advance technology for the P&C insurance industry. Hatch-a-thon ideas focus on:
- Accelerating speed-to-market activities and initiatives for insurance carriers
- Maximizing operational efficiency across insurance functions
- Optimizing user experience – this includes all individuals across the end-to-end insurance landscape, from carriers and producers to third parties and policyholders.
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 standalone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.
FAQ
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