Tractable And Duck Creek Technologies Partner To Transform P&C Claims With Industry-Leading AI

Rhea-AI Summary

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.

Positive

• Integration with Duck Creek enhances claims processing efficiency.
• Tractable's AI solutions are already processing over $2bn annually.
• Access to advanced AI tools like AI Triage benefits Duck Creek clients.

Negative

• None.

Tractable's AI solutions use computer vision to assess damage and streamline the claims process, and will soon be available on the Duck Creek platform

NEW YORK, April 5, 2022 /PRNewswire/ -- Tractable, a market leader in developing and applying artificial intelligence (AI) to accelerate accident and disaster recovery, will integrate its solutions into Duck Creek Technologies' (Nasdaq: DCT) platform. Tractable's AI solutions use photos to automate auto damage appraisal, allowing insurers to improve claims accuracy, reduce turnaround times and deliver an improved experience for customers.

By joining forces with Tractable, Duck Creek empowers its insurance clients to bolster their claims workflow with the speed, accuracy and maturity of Tractable's market-leading AI. Now, Duck Creek customers will benefit from reduced processing times and an overall enhanced claims workflow.

Among the Tractable solutions that will be available to Duck Creek customers is AI Triage, which uses computer vision to scan vehicle images and instantly generate damage reports at first notice of loss (FNOL). Tractable's AI Review, which uses AI to review claims, and AI Subro, which uses AI to streamline subrogation tasks, will also be available to Duck Creek customers.

"Tractable's AI is accelerating millions of claims a year and helping drivers get back on the road," said Julie Kheyfets, vice president and general manager of North America at Tractable. "By teaming up with Duck Creek, we're able to bring the benefits of AI claims to even more carriers and drive a faster, better claims experience for even more policyholders."

"Today, insurance carriers are faced with constantly evolving standards and expectations to deliver a superior customer experience," said Andy Yohn, VP of Product Management at Duck Creek. "It's more important than ever for P&C leaders to keep pace with and implement the most advanced tech solutions. Our partnership will set Duck Creek clients apart in the industry as they benefit from the unmatched precision, speed and consistency of solutions like Tractable's AI."

About Tractable

Tractable develops artificial intelligence systems for accident and disaster recovery. Its AI solutions process over $2bn a year in vehicle repairs and purchases and have been deployed by over 20 of the world's top insurers across Europe, North America and Asia, helping millions of households recover from accidents faster. Connect with Tractable on LinkedIn and Twitter. https://tractable.ai/

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.

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SOURCE Tractable

FAQ

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

Tractable is partnering with Duck Creek Technologies to integrate its AI solutions into Duck Creek's platform, improving the insurance claims process.

How will Duck Creek clients benefit from Tractable's AI solutions?

Duck Creek clients will benefit from faster claims processing and improved accuracy through Tractable's AI tools.

What is the significance of the Duck Creek Technologies ticker DCT?

DCT is the stock symbol for Duck Creek Technologies, which is expanding its service offerings through the integration with Tractable.

What are the key features of Tractable's AI solutions for insurance?

Tractable's AI solutions include AI Triage for damage reports and AI Review for claims assessment, which enhance the efficiency of insurance workflows.