Duck Creek’s Cloud-Based Software Enables GAINSCO Auto Insurance® to Scale in its Journey Towards Expansion

Rhea-AI Summary

Duck Creek Technologies (NASDAQ: DCT) has partnered with GAINSCO Auto Insurance, a leading provider in the non-standard auto insurance market. This collaboration aims to enhance operational efficiency and expand GAINSCO's service area from 19 to over 40 states. By leveraging Duck Creek’s SaaS solutions, GAINSCO seeks to modernize its technology stack and improve speed to market. Duck Creek's cloud-enabled software allows insurers to adapt to the complexities of minimum-limits personal auto insurance. Both companies express confidence that this partnership will bolster GAINSCO's goal of becoming a national leader in non-standard auto insurance.

Positive

• Partnership with GAINSCO supports expansion into new markets, increasing from 19 to over 40 states.
• Duck Creek's low-code SaaS solutions enhance operational efficiency for GAINSCO.
• Cloud-enabled software allows faster innovation and responsiveness to market demands.

Negative

• None.

The Non-standard Auto Insurer will utilize Duck Creek’s technology across all of its states

Boston, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, highlights its customer relationship with GAINSCO Auto Insurance® (GAINSCO), a leading provider of non-standard auto insurance products. Duck Creek’s customer-centric and low-code software enables GAINSCO to increase operational efficiencies to best serve its customers during its period of significant expansion and provides a new distribution model to more effectively manage this expansion from the current 19 states in which it actively writes policies to more than 40 states over the next few years. 

GAINSCO was seeking a best-of-breed software-as-a-service (SaaS) solution to replace its legacy technology and selected Duck Creek OnDemand, Duck Creek Policy, Duck Creek Billing and Duck Creek Distribution Management. The maturity of Duck Creek’s cloud-enabled software allows GAINSCO to innovate and go to market faster, particularly considering the minimum-limits personal auto insurance complexity in servicing its diverse market across the US. With Duck Creek continuously delivering new functionality and technology strategies to solve ever-changing business challenges, insurers and agents can better compete in today’s P&C insurance industry. 

“GAINSCO is a great partner for Duck Creek, and we are proud to work alongside a customer that powers the non-standard auto insurance market and is focused on improving upon the insurance industry,” said Eugene Van Biert, Chief Operating Officer, Duck Creek Technologies. “Our customer-focused team and our suite of cloud-based technology will help support and accelerate GAINSCO’s long-term mission to become the leading provider of non-standard personal auto insurance nationwide.” 

“We have a well-established and strategic relationship with Duck Creek’s team, which is eager to help us solve problems and achieve our goals,” said Phil West, Senior Vice President and Chief Information Officer, GAINSCO. “Duck Creek’s solutions have evolved, and the value differentiators, for us, are around our increase in speed to market and our scalability to advance into new states with ease and confidence.” 

About GAINSCO  

GAINSCO Auto Insurance® is a Dallas, Texas-based property and casualty insurance company concentrating on the non-standard personal auto insurance market, specializing in minimum-limits personal auto insurance. GAINSCO Auto Insurance is an expansionary company, currently selling its insurance policies in 19 states through independent agents as well as directly to customers via digital channels. Our insurance operations are conducted through MGA Insurance Company, Inc.  GAINSCO, Inc. was established in 1978 and has a regional office in Miami, Florida.  In December 2020, State Farm Mutual Automobile Insurance Company acquired GAINSCO, Inc. and its subsidiaries.   

 

About Duck Creek Technologies 

Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter. 

FAQ

What is the recent partnership between Duck Creek Technologies and GAINSCO Auto Insurance?

Duck Creek Technologies has partnered with GAINSCO Auto Insurance to enhance operational efficiency and support GAINSCO's expansion into over 40 states.

How will Duck Creek's technology benefit GAINSCO Auto Insurance?

Duck Creek's technology will help GAINSCO modernize its operations, improve speed to market, and manage its expansion effectively.

What is the significance of the Duck Creek and GAINSCO partnership for investors of DCT?

This partnership is significant as it positions Duck Creek to play a vital role in GAINSCO's growth, potentially driving revenue and increasing market share.

When is GAINSCO expected to expand its operations with Duck Creek’s technology?

GAINSCO plans to expand its operations over the next few years, moving from 19 states to more than 40 states.

What is Duck Creek’s stock symbol?

Duck Creek Technologies trades under the stock symbol DCT on NASDAQ.