Safekeep, Inc Announces Partnership with Duck Creek Technologies

Rhea-AI Summary

Safekeep has partnered with Duck Creek Technologies (Nasdaq: DCT) to enhance the claims process for insurers. This collaboration will enable insurers to identify and score subrogation opportunities efficiently, streamlining the referral and investigation processes from the First Notice of Loss. Safekeep leverages advanced AI technologies to improve claims recovery and reduce costs. The integration aims to boost claims handlers' efficiency and prevent lost recovery opportunities, ultimately impacting profitability positively for insurers.

Positive

• Partnership with Duck Creek enhances claims processing efficiency.
• Integration allows insurers to identify subrogation opportunities early.
• Use of AI technology aims to improve profitability and reduce costs.

Negative

• None.

NEW YORK, Oct. 12, 2021 /PRNewswire/ -- Safekeep, an award-winning insurtech that uses AI to maximize net recovery through its Claims Profitability Platform, announced today that it has partnered with Duck Creek Technologies (Nasdaq: DCT) to enhance the claims experience for insurers and policyholders alike. An integration between Safekeep and Duck Creek Claims will give insurers the ability to detect and score subrogation opportunities, as well as streamline the subrogation referral and investigation processes as early as First Notice of Loss.

Safekeep, the award-winning insurtech focused on leveraging AI in claims recovery, will integrate with Duck Creek.

This partnership will enhance subrogation referral quality, both in speed and potential, prevent leakage resulting in missed opportunities, and improve claims handlers' efficiency and capacity.

Jeff To, Founder and CEO of Safekeep, says, "Safekeep is proud to partner with Duck Creek to offer intelligent claims mining capabilities to P&C insurers. We are excited to deliver meaningful impact on combined ratios through best-in-class recovery, subrogation, and salvage. Duck Creek offers the flexible platform on which we could rapidly get insurers up and running to unlock profit potential in their structured and unstructured claims data."

Safekeep has partnered with global top-tier commercial lines carriers and insurtechs across all segments and lines of business. Safekeep leverages proprietary machine learning models as well as patented semantic search capable Natural Language Processing, Entity Resolution, and statutory rules-based automation to ingest claims files and drive profitability. Safekeep identifies the true extent of subrogable opportunity, automates the end-to-end recovery workflow, and increases dollar net recoveries, thereby reducing costs and improving loss-ratios. Safekeep is also able to pursue recoveries on a carrier's behalf.

"To help insurers improve their combined ratios with automated solutions, it is critical to align with partners that employ the most modern technologies," said Elizabeth Del Ferro, Vice President of Partner GTM at Duck Creek Technologies. "Safekeep's proprietary solutions make them an excellent choice for insurers of all sizes in all lines of business, and Duck Creek is happy to welcome them into our rapidly-growing partner ecosystem."

About Safekeep Inc.
Safekeep applies AI to meaningfully increase carrier profitability, and ultimately make policyholders happy. Safekeep's Claims Profitability Platform leverages machine learning, NLP, Entity Resolution and rules-based automation to maximize profitability, reduce costs, and improve combined ratios. Safekeep serves tier 1 carriers as well as insurtechs in work comp, property, auto, and general liability insurance in commercial and personal lines. Safekeep is a top 10 Insurtech Insights Future50 company, Zurich Global Gold Award Winner and Efma-Accenture Global Silver Award Winner. To learn more, visit safekeep.com.

About Duck Creek Technologies 
Duck Creek Technologies (Nasdaq: DCT) is a leading provider of core system solutions to the P&C and General insurance industry.  By accessing Duck Creek OnDemand, the company's enterprise Software-as-a-Service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors.  Duck Creek's functionally-rich solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.

DUCK CREEK CONTACT:
Paul Rechichi, Racepoint Global
prechichi@racepointglobal.com 

SAFEKEEP CONTACT:
Gabriel Weiss, Co-Founder & Chief Customer Officer
gabriel@safekeep.com 

View original content:https://www.prnewswire.com/news-releases/safekeep-inc-announces-partnership-with-duck-creek-technologies-301398581.html

SOURCE Safekeep

FAQ

What is the partnership between Safekeep and Duck Creek Technologies about?

The partnership focuses on enhancing the claims experience for insurers, enabling early detection of subrogation opportunities through improved technology.

How will the integration with Duck Creek Technologies benefit insurers?

Insurers will benefit from streamlined subrogation processes and increased efficiency in claims handling, potentially leading to improved profitability.

What technologies are being utilized in the Safekeep and Duck Creek partnership?

The partnership leverages AI technologies, including machine learning and natural language processing, to enhance claims recovery.

What is the stock symbol for Duck Creek Technologies?

Duck Creek Technologies is traded under the stock symbol DCT.