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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 CEO Michael Jackowski and CFO Vincent Chippari will present at the Goldman Sachs Technology and Internet Conference on February 10, 2021, at 8:50 a.m. Eastern Time. A live webcast will be available on their investor relations website, with a replay offered for a limited time. Duck Creek is known for its SaaS solutions in the P&C insurance sector, enabling insurers to leverage opportunities quickly through its software.
Duck Creek Technologies (Nasdaq: DCT) announced a public offering of 9 million shares of common stock at $46.00 per share, including an upsize of 1 million shares. The offering consists of 8.91 million shares from selling stockholders and 90,000 from Duck Creek. The offering is scheduled to close on February 2, 2021. Proceeds will cover expenses related to stock registration and general corporate purposes, but Duck Creek will not receive any proceeds from the selling stockholders' shares.
Duck Creek Technologies (Nasdaq: DCT) announced a proposed underwritten public offering of 8,000,000 shares of its common stock, with 7,920,000 shares offered by selling stockholders and 80,000 shares by the company. The offering includes a 30-day option for underwriters to purchase up to 1,200,000 additional shares. Proceeds will cover registration costs and general corporate purposes. No proceeds will be received from the selling stockholders' shares. The offering is subject to market conditions and is detailed in a preliminary registration statement filed with the SEC.
Compex Legal Services, a leading record retrieval company, has joined the Duck Creek Technologies Partner Ecosystem, enhancing its digital solutions for insurers. This integration allows insurance adjusters to streamline the process of obtaining and managing records related to claims. Key features include faster record ordering, real-time status updates, secure document management, and a built-in DICOM Viewer for films. This collaboration aims to increase efficiency and effectiveness in claims handling, enabling adjusters to devote more time to resolving claims.
Duck Creek Technologies (NASDAQ: DCT) announced that Builders Mutual, a key customer, has chosen its Duck Creek Suite OnDemand to enhance operational efficiency and customer experience. This SaaS platform provides essential services and resources for commercial insurers, enabling rapid product development and the ability to adapt to market needs effectively. Builders Mutual aims to improve agent and customer interactions while reducing reliance on legacy systems.
Duck Creek Technologies (Nasdaq: DCT) announces that CEO Michael Jackowski and CFO Vincent Chippari will present at the Needham Virtual Growth Conference on January 12, 2021, at 2:45 p.m. Eastern Time. The presentation will be accessible via a live webcast on the company's investor relations website.
Duck Creek offers SaaS solutions for the property & casualty insurance sector, enabling carriers to swiftly adapt to market changes. A replay of the webcast will be available for a limited time.
Duck Creek Technologies (NASDAQ: DCT) reported a 26% revenue growth to $58.9 million for Q1 FY2021, with subscription revenue increasing by 59% to $27.9 million. SaaS Annual Recurring Revenue (ARR) reached $103.9 million, up 72% year-over-year. Despite a GAAP net loss of $4.7 million, non-GAAP net income improved to $2.4 million. The company forecasts Q2 FY2021 revenues between $58.5 million and $59.5 million and an annual outlook of $246 million to $251 million.
Duck Creek Technologies (NASDAQ: DCT) announced the release of its financial results for Q1 FY2021, ending November 30, 2020, on January 7, 2021, post-market close. A conference call will follow at 5:00 PM ET to discuss the results and business outlook, accessible via their Investor Relations page. The company's SaaS solutions for the property and casualty insurance sector enable carriers to capitalize on market opportunities efficiently.
Duck Creek Technologies (NASDAQ: DCT) congratulates Wesley Hyatt and Kym McCleerey for receiving the 2020 Women in Insurance Leadership Awards by Digital Insurance. Hyatt leads digital transformation efforts at Liberty Mutual, focusing on enhancing the workers' compensation claims process. McCleerey emphasizes team empowerment and supports AIG’s data strategies, improving underwriting efficiencies. Duck Creek’s CEO, Michael Jackowski, commended their leadership and innovation, noting the company's commitment to support their continued success.
On December 2, 2020, Duck Creek Technologies (NASDAQ: DCT) announced a new partnership with Split Limit Studios, enhancing its Partner Ecosystem. This collaboration introduces Split Limit's TRUPAY®, a key SaaS solution for workers' compensation pay-as-you-go billing. TRUPAY® integrates with Duck Creek's Policy and Billing systems, automating premium payments based on real-time payroll data. The partnership aims to improve cash flow for policyholders and streamline premium payments for insurance carriers, leveraging connections with over 350 payroll providers, including Intuit.
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