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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.
Dulieu joins Duck Creek Technologies as CISO
On April 25, 2022, Duck Creek Technologies (NASDAQ: DCT) appointed Benjamin Dulieu as Chief Information Security Officer, responsible for enhancing the company’s cybersecurity strategy and programs, notably for its OnDemand offerings. Dulieu previously held a Senior Vice President role at Brown Brothers Harriman, where he shaped their cybersecurity program and managed global technology risk. He served in the U.S. Marine Corps, managing military technology systems. CEO Mike Jackowski emphasized Dulieu’s extensive expertise as a vital asset for the company and its clients.
Duck Creek Technologies (NASDAQ: DCT) announced a partnership with DataOne Software, integrating their solutions to enhance the consumer experience in the property and casualty insurance industry. This collaboration allows insurance carriers to access accurate vehicle details through Duck Creek's Content Exchange, improving policy document accuracy and user personalization. DataOne's tools, including VIN decoding and vehicle images, will serve major dealer direct service providers and personal auto carriers in North America, aligning with Duck Creek's commitment to exceptional customer service.
Duck Creek Technologies (NASDAQ: DCT) announced the appointment of Jess Keeney as Chief Product Officer on April 11, 2022. Keeney brings 15 years of B2B product experience, previously holding roles at ZoomInfo Technologies and UKG, where she led product and engineering teams. CEO Mike Jackowski expressed enthusiasm for Keeney's innovative and customer-oriented approach, which is expected to enhance Duck Creek's product vision.
Duck Creek delivers core system solutions to the property and casualty insurance sector through its OnDemand platform.
Tractable has announced its partnership with Duck Creek Technologies (Nasdaq: DCT) to integrate AI solutions for enhancing the insurance claims process. The integration aims to streamline claims with faster processing and improved accuracy by using computer vision to assess auto damage through photos. Duck Creek customers will gain access to Tractable's innovative tools, including AI Triage and AI Review, which promise better efficiency for insurers. This collaboration positions Duck Creek at the forefront of technology in the insurance sector, focusing on customer experience.
Duck Creek Technologies (DCT) reported second quarter fiscal 2022 revenue of $76.4 million, growing 22% year-over-year. Subscription revenue increased 29% to $39.6 million. The company's GAAP loss from operations narrowed to $0.4 million from $6.4 million the previous year, while Non-GAAP income rose to $6.6 million. Adjusted EBITDA reached $7.3 million, a significant increase from $3.0 million. Looking ahead, DCT projects third quarter revenue between $71.0 million and $73.0 million, signaling continued growth.
Athenium Analytics has teamed up with Duck Creek Technologies (DCT) to provide natural hazard risk scores, aiding insurers in managing climate risks across the U.S. This collaboration, starting this month, offers insurers access to Athenium's proprietary risk scores via the Duck Creek Content Exchange. These risk scores encompass various perils like floods and hurricanes, derived from extensive historical climate data. Athenium aims to equip insurers with actionable insights for improved underwriting and enhanced climate resilience.
Duck Creek Technologies (DCT) has appointed Shreyas Vasanthkumar as Managing Director for EMEA, responsible for driving growth in the region. Previously at Hexaware Technologies, he brings 19 years of experience, particularly in digital transformation for insurance and financial sectors. COO Eugene Van Biert expressed confidence in Vasanthkumar’s ability to enhance Duck Creek’s client base. Vasanthkumar highlighted the competitive landscape for insurers in EMEA and the importance of local expertise for accelerating market presence.
Duck Creek Technologies (NASDAQ: DCT) announced that EMC Insurance Companies has selected its Distribution Management SaaS solution to enhance relationships with agents and agencies. This decision is driven by the platform's extensive functionality, allowing EMC to modernize its agency management systems. The tool aims to optimize producer relationships and streamline operations. EMC's senior VP highlighted the importance of this investment in driving growth, while Duck Creek's VP emphasized their commitment to supporting EMC's digital transformation and improving operational efficiency.
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.
Duck Creek Technologies (Nasdaq: DCT) announced a partnership with Philadelphia Insurance Companies (PHLY) to launch a new line of commercial insurance products in North America. This collaboration utilizes Duck Creek's OnDemand software-as-a-service solutions for rapid deployment in the commercial sector. This partnership aims to meet the demands of the small commercial market by providing scalable, extensible insurance offerings with enhanced customer experience.
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