Small commercial insurance quotes on Duck Creek are faster and easier with Verisk’s LightSpeed®

Rhea-AI Summary

Duck Creek Technologies (NASDAQ: DCT) announced an expanded integration with Verisk (NASDAQ: VRSK) to enhance data delivery for insurance quotes aimed at small business owners. The new Anywhere Integration leverages Verisk's Lightspeed® to streamline the underwriting process, providing essential data in seconds. This integration aims to improve profitability and customer service by facilitating quick business binding. Both companies emphasize the importance of data analytics in today's fast-paced market.

Positive

• Expanded integration with Verisk enhances data delivery for insurance quotes.
• New Anywhere Integration streamlines underwriting, allowing carriers to bind new business in seconds.
• Integration utilizes AI and machine learning for better data quality and actionable insights.

Negative

• None.

New accelerator will improve the quality and the method that customers receive data

Boston, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, announces an expanded integration with Verisk (NASDAQ: VRSK), a leading global data analytics provider. Duck Creek’s customers are hyper-focused on providing small business owners insurance quotes as rapidly as possible, and the new accelerator for Verisk’s Lightspeed® Small Commercial will make it easier for agents to do business with them.

The Anywhere Integration allows Duck Creek’s Businessowner template customers to take advantage of Verisk’s API and access actionable underwriting insights from unstructured data sources developed with artificial intelligence and machine learning. LightSpeed Small Commercial significantly improves data quality and streamlines the quote process by serving up critical underwriting intelligence on nearly every small business in the country.

With just a business name and address, LightSpeed Small Commercial seamlessly integrates to deliver the information needed to perform highly accurate automated underwriting. The solution enables carriers to bind new business in seconds rather than days, helping to boost profitability, elevate the customer experience, and grow their portfolio.

“We are so pleased to expand our partnership with Verisk and feel confident this new Anywhere Integration will help extend the value of our product offerings, enabling our customers to improve their underwriting results,” said Jess Keeney, Chief Product Officer, Duck Creek. “Verisk is uniquely positioned to help ensure a smooth integration and continued, responsive support, which is top of mind for us in serving the needs of our customers.”

“In the rapidly evolving small commercial market, insurers need easy access to a holistic view of risk based on robust data and advanced analytics,” said Doug Caccese, president of risk assessment, underwriting solutions, Verisk. “By expanding Verisk’s integration with Duck Creek, we are helping insurers enhance their underwriting with critical insights, and make the process of buying insurance simpler and faster for today’s busy business owners.”

 

About Duck Creek Technologies

Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

 

About Verisk

Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

FAQ

What is the latest news from Duck Creek Technologies?

Duck Creek Technologies has expanded its integration with Verisk to improve data delivery and streamline the underwriting process for small business insurance.

How will Duck Creek's partnership with Verisk benefit customers?

The partnership enables faster insurance quoting and binding processes, enhancing customer experience and potentially increasing profitability for insurance carriers.

What technology does Duck Creek use in its new integration?

Duck Creek's new integration utilizes Verisk's Lightspeed® and incorporates AI and machine learning to improve data quality and underwriting insights.

When was Duck Creek's integration with Verisk announced?

The expanded integration was announced on August 24, 2022.