DCT - DCT STOCK NEWS

Duck Creek Technologies has successfully implemented its Duck Creek Suite OnDemand for Lawcover, enhancing professional indemnity insurance services in New South Wales, ACT, and Northern Territory of Australia. The project, completed during the Covid-19 pandemic, transitioned Lawcover from outdated systems, allowing them to renew 95% of their book in just three months. Duck Creek's SaaS solution positions Lawcover towards a digitized, customer-focused service model, promising improved operational efficiency and enhanced service delivery for nearly 20,000 insured lawyers.

Duck Creek Technologies (Nasdaq: DCT) appointed Jeff Winter as Chief Marketing Officer, effective immediately. Winter will oversee the global marketing strategy, focusing on brand expansion and customer engagement. Previously, he served as CMO at Rocket Software, where he significantly increased brand awareness and revenue. CEO Michael Jackowski emphasized Winter's expertise as crucial for Duck Creek's growth in the P&C insurance sector, stating the need for a seasoned marketing leader on the executive team. Duck Creek is recognized for its SaaS solutions for the insurance industry.

Duck Creek Technologies (NASDAQ: DCT) has officially launched its technology solutions for Indigo Insurance, a new Caribbean-based insurance company. Indigo is utilizing Duck Creek's Policy, Claims, Billing, and Insights solutions to enhance customer experience and efficiency.

Indigo aims to deliver modern, flexible insurance services and leverage straight-through claims processing. With the Duck Creek Suite, Indigo expects to automate key processes, allowing them to concentrate on product innovation and customer service.

Duck Creek Technologies (Nasdaq: DCT) has announced a partnership with Accurate Background, enhancing their Partner Ecosystem with a seamless integration of Accurate’s employment screening services into Duck Creek’s Distribution Management Solution. This integration aims to streamline the background screening process, crucial for insurers in meeting compliance and regulatory requirements. Accurate Background offers comprehensive services, including criminal checks and drug screening, to help organizations make informed hiring decisions. This collaboration underscores Duck Creek's commitment to providing valuable tools for the insurance industry.

NTT DATA has partnered with Duck Creek Technologies to enhance digital transformation services for property and casualty insurers. This collaboration aims to optimize Duck Creek Platform deployments, improving client efficiency, lowering operational costs, and enhancing customer experiences. Key offerings include operational leadership, cloud migration strategies, and strategic use of data analytics. The partnership is poised to help clients accelerate product market entry and improve service delivery in a competitive landscape.

On August 12, 2021, Glia announced its partnership with Duck Creek Technologies (Nasdaq: DCT) to integrate its Digital Customer Service platform into Duck Creek's solutions. This collaboration aims to enhance agent and customer service in the insurance sector, reducing call times and improving operational efficiency. Glia's technology enables insurers to deliver better digital-first experiences, helping to address the growing demand for self-service options. Duck Creek is optimistic about this partnership, emphasizing the importance of efficiency and customer satisfaction in retaining clients.

Duck Creek Technologies (Nasdaq: DCT) has expanded its presence in Australia by establishing a regional product development team and releasing multiple localized software offerings. This initiative aims to support current and future customers by providing tools tailored to the Australian market. Key offerings include an Australian base package, geo format support, GST calculations, and payment processor integration. Company officials highlight the significance of localizing services to enhance customer experience and expedite implementation of their SaaS solutions, reaffirming Duck Creek's commitment to the Australian insurance market.

On July 13, 2021, Duck Creek Technologies (Nasdaq: DCT) announced an expansion of its Partner Ecosystem through a partnership with RedZone, which specializes in wildfire hazard identification solutions. This new collaboration allows Duck Creek users to access RedZone’s API for site-specific wildfire scores and insights, enhancing risk assessment during underwriting. RedZone's capabilities will aid insurers in understanding wildfire risk, aiming to improve underwriting decisions and mitigate claims. This partnership reflects Duck Creek’s commitment to providing valuable data for managing insurance risks effectively.

Duck Creek Technologies reported a robust performance in Q3 FY2021, achieving 56% year-over-year growth in subscription revenue and 64% growth in SaaS Annual Recurring Revenue (ARR). Total revenue reached $67.9 million, a 26% increase from Q3 FY2020. Non-GAAP net income was $4.0 million, compared to $1.9 million in the same period last year. Despite a GAAP net loss of $0.4 million, Duck Creek maintains a strong liquidity position with $115.6 million in cash and no debt. The company anticipates fourth-quarter revenue between $68.5 million and $69.5 million.