Starr Insurance Chooses Duck Creek Policy OnDemand to Create Improved User Experiences and Deliver Expanded Capabilities

Rhea-AI Summary

Duck Creek Technologies announced the selection of its Policy solution by Starr Insurance Companies to modernize its policy administration system. The transition aims to enhance user experiences and operational efficiencies using Duck Creek's OnDemand SaaS platform. This solution supports multi-currency and multilingual needs, crucial for global operations. Starr plans to build a tailored customer interface on Duck Creek's platform, emphasizing rapid market delivery and improved customer satisfaction, aligning with their digital transformation strategy.

Positive

• Starr Insurance Companies selected Duck Creek Policy to modernize its policy administration system.
• The Duck Creek OnDemand SaaS platform supports multi-currency and multilingual capabilities, beneficial for Starr's global operations.
• The implementation aims to enhance user experiences and operational efficiencies.

Negative

• None.

Specialty commercial insurance leader moves to accelerate digital transformation with SaaS

Boston, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Duck Creek Technologies (NASDAQ: DCT) announced today that Starr Insurance Companies, a leading global insurance and investment organization and a longtime user of Duck Creek Distribution Management, has selected Duck Creek Policy to replace its existing policy administration system for the Starr Technical Risks business unit. The company will be implementing Policy via Duck Creek OnDemand, the provider’s SaaS platform for the P&C insurance industry. Duck Creek’s support of complex international business with a multi-currency and multilingual solution was a driving factor behind Starr’s business decision. Digital transformation company Mindtree, which has a longtime relationship with Starr and is a Duck Creek Premier Partner, will provide end-to-end solutioning, implementation, global rollout, and support services.

Seeking to improve UI experiences for its internal users, Starr determined that Duck Creek Policy OnDemand was the best modern policy administration system available. The company plans to build its own bespoke customer-facing presence on top of Policy, such “headless” deployments being a well-known strength of solutions built on the Duck Creek Platform.

Duck Creek Policy enables P&C companies to deliver insurance products at scale in an era of rapid, customer-centric innovation and growth. Policy supports the full policy lifecycle process with automation and workflow management capabilities, an integrated development environment for insurance products, and pre-built content, so that providers can go to market faster, increase operational efficiencies, and improve customer satisfaction – built using low-code tools and delivered in a SaaS model.

“Duck Creek Policy supports our complex specialty lines worldwide,” said Richard Shaak, President, International Insurance, Starr Insurance Companies. “The software lets us create a more tailored user experience for our internal resources and roll out additional capabilities such as intuitive forms and superior user interfaces for our clients. This system will help us to exceed customer expectations and further enhance our position as a global commercial insurance leader.”

Duck Creek’s OnDemand end-to-end SaaS solution provides all of the services, support, and computing resources needed to help insurance organizations move faster and more efficiently than ever before. By leveraging the best available technology and continuously delivering new functionality to solve ever-changing P&C insurance business challenges, OnDemand enables a fundamentally new approach to competing in today’s industry – one where technology supports strategy rather than dictating it, and where providers are empowered to focus on innovation in entirely new ways.

“Starr’s size and global presence require scalable SaaS solutions like Duck Creek Policy that can underpin its operations now as well as scale to meet its goals well into the future,” said Nag Vaidyanathan, Chief Technology Officer of Duck Creek Technologies. “Our team is proud to support Starr as it moves forward with its digital transformation and adoption of evergreen SaaS technology, and to provide the solutions and expertise it needs to accelerate its success.”

About Starr Insurance Companies:

Starr Insurance Companies (or Starr) is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Singapore, U.K. and Malta each have an A.M. Best rating of “A” (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong).

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 stand-alone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.

About Mindtree:

Mindtree [NSE: MINDTREE] is a global technology consulting and services company, helping enterprises marry scale with agility to achieve competitive advantage. “Born digital,” in 1999 and now a Larsen & Toubro Group Company, Mindtree applies its deep domain knowledge to more than 260 enterprise client engagements to break down silos, make sense of digital complexity and bring new initiatives to market faster. We enable IT to move at the speed of business, leveraging emerging technologies and the efficiencies of Continuous Delivery to spur business innovation. Operating in 24 countries across the world, we’re consistently regarded as one of the best places to work, embodied every day by our winning culture made up of over 29,700 entrepreneurial, collaborative and dedicated “Mindtree Minds”. To learn more about us, visit www.mindtree.com or follow us @Mindtree_Ltd.

Duck Creek Media Contact:
Paul Rechichi
Racepoint Global
617-624-3295
prechichi@racepointglobal.com 

FAQ

What did Duck Creek Technologies announce with Starr Insurance Companies?

Duck Creek Technologies announced that Starr Insurance Companies selected Duck Creek Policy to modernize its policy administration system.

How does Duck Creek's solution support Starr Insurance Companies' global operations?

Duck Creek's OnDemand SaaS platform supports multi-currency and multilingual capabilities, which are essential for Starr's international business.

What are the expected benefits of the Duck Creek Policy implementation?

The implementation aims to enhance user experiences, increase operational efficiencies, and improve customer satisfaction.

When was the announcement made regarding Duck Creek Technologies and Starr Insurance Companies?

The announcement was made on December 15, 2021.

What is the stock symbol for Duck Creek Technologies?

The stock symbol for Duck Creek Technologies is DCT.