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Duck Creek Technologies is a leader in providing intelligent solutions for the property and casualty (P&C) and general insurance industry. As a pioneering company in the insurance technology landscape, Duck Creek offers a range of software-as-a-service (SaaS) solutions designed to help insurers streamline their operations, enhance customer experiences, and drive innovation.
Duck Creek's core business revolves around modern, cloud-based platforms that enable insurance carriers to deploy and manage their products and services efficiently. Their offerings include policy administration, billing, claims, data insights, digital enablement, and distribution management solutions. Leveraging its deep domain expertise, Duck Creek ensures that insurance companies can meet the evolving needs of their customers with agility and precision.
One of the recent notable achievements of Duck Creek Technologies is its strategic global technology partnership with Hagerty, an automotive lifestyle brand and specialty insurance provider. This partnership aims to redefine the customer experience for classic car enthusiasts by offering customized, humanized digital interactions. Another significant milestone is Duck Creek's expansion into the Indian general insurance market through a partnership with HDFC ERGO, enabling the insurer to adopt advanced AI/ML models for improved customer experience.
In addition to forging strong partnerships, Duck Creek continues to innovate and enhance its product suite. The company has collaborated with Country-Wide Insurance Company to migrate to a cloud-based system, thus modernizing its operations and improving customer satisfaction. Duck Creek's dedication to offering flexible, scalable solutions has also attracted Southern Trust Insurance, which seeks to expand its commercial auto insurance offerings using Duck Creek OnDemand.
Duck Creek Technologies emphasizes authenticity, purpose, and transparency. They believe in creating insurance solutions that are accessible when, where, and how individuals and businesses need them most. This commitment is reflected in their wide range of market-leading solutions, available individually or as a comprehensive suite through Duck Creek OnDemand.
With a strong focus on international growth, SaaS maturity, and customer-centric strategies, Duck Creek Technologies is well-positioned to continue leading the transformation of the insurance industry. For the latest updates and detailed information, visit their website at www.duckcreek.com and follow their social media channels on LinkedIn and Twitter.
Duck Creek Technologies (Nasdaq: DCT) announced that Distinguished Programs has chosen its SaaS solution, Duck Creek OnDemand, to facilitate its digital transformation. This decision follows their existing use of Duck Creek Policy software, aiming for improved efficiency and faster product deployment. The choice is driven by the need for a sophisticated platform to support new product development. Duck Creek OnDemand provides comprehensive support and resources, allowing Distinguished Programs to focus on innovation while Duck Creek manages IT operations.
Duck Creek Technologies (NASDAQ: DCT) reported strong Q2 fiscal 2021 results, with total revenue of $62.7 million, a 19% increase year-over-year. Subscription revenue surged 51% to $30.6 million, while SaaS Annual Recurring Revenue rose 75% to $118.1 million. Despite these gains, the company experienced a GAAP net loss of $6.4 million, worsening from a $2.4 million loss in the previous year. Adjusted EBITDA decreased to $3.0 million. Looking ahead, Duck Creek expects Q3 revenue between $62.5 million and $64.5 million and full-year revenue of $250 million to $254.5 million.
Duck Creek Technologies (NASDAQ: DCT) will release its financial results for Q2 FY 2021 on April 5, 2021, after market close. The results will cover the quarter ending February 28, 2021. Following the announcement, a conference call will be held at 5:00 PM ET on the same day to discuss the financial outcomes and future business outlook. Investors can access the call via phone or a live webcast on Duck Creek's Investor Relations page. Replays of the call will be available until April 19, 2021.
Duck Creek Technologies (NASDAQ: DCT) and Xceedance partnered to help global insurer Hollard launch a new platform in Australia for personal insurance lines. The integration, completed in just six months during the pandemic, relied on Duck Creek's low-code solutions. Hollard's CIO highlighted the importance of agility in a competitive market, emphasizing the platform's potential to enhance operational efficiency. The collaboration marks a significant milestone in Hollard's technology transition and positions them for future growth as they expand their services.
DCT partners with Capgemini and RSA Group to launch the Unity Program in the UK, enhancing self-service insurance channels for personal lines customers. The initiative targets major building societies, including Yorkshire Building Society and Nationwide Building Society. This platform allows customers to customize their coverage and improves the customer journey from policy purchase to claims. The successful implementation showcases the collaboration's effectiveness and positions RSA as a leader in innovative insurance solutions.
Duck Creek Technologies has appointed Courtney Townsend as its first Chief People Officer. Her role will focus on enhancing the company’s human resources strategy, including culture development, diversity, and talent management. Townsend brings over 15 years of experience in human resources, having previously served as Chief Human Resources Officer at Stats Perform. This appointment aims to support Duck Creek’s growth and leadership during a transformative period for the insurance industry.
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.
Duck Creek Technologies (NASDAQ: DCT) has partnered with Larsen & Toubro Infotech to implement the full Duck Creek Suite via Duck Creek OnDemand for Mutual Benefit Group (MBG), a property and casualty insurer.
MBG aims to migrate its core systems to a SaaS model to enhance customer service and operational efficiency, positioning itself competitively within the insurance market. This strategic decision is part of a broader cloud initiative to modernize business operations and improve user experiences while maintaining a focus on innovation and agility.
Duck Creek Technologies announced an expansion of its Partner Ecosystem through a new collaboration with DocuSign. This integration allows insurance carriers to enhance producer experiences by streamlining onboarding and contracting processes, enabling e-signatures through the Duck Creek Distribution Management system. Key benefits include reduced operational costs, faster revenue realization, and improved transparency with status tracking. The Anywhere Enabled Integration is also now available, further facilitating electronic document signatures. Duck Creek Technologies continues to position itself as a leader in core system solutions for the insurance industry.
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