Pitney Bowes Business Insight and Duck Creek Technologies® Form Partnership to Deliver Enhanced Policy Administration Solution
Joint Solution Enables Insurance Carriers to Improve Underwriting Operations with More Productive, Cost-Effective and Error-Proof Processing
LAS VEGAS, May 24, 2010 - Pitney Bowes Business Insight and Duck Creek Technologies, Inc. today announced that they are partnering to offer a comprehensive policy administration solution. The integrated solution enables carriers to enhance underwriting operations through more productive, cost-effective and error-proof policy processing. The two companies will be demonstrating the joint solution at Booth #653 at the ACORD LOMA Insurance Systems Forum, to be held May 24-26 at the Mandalay Bay Resort & Casino in Las Vegas, NV.
The integrated offering ties together Pitney Bowes Business Insight’s Spectrum™ Data Quality Platform and Location Intelligence solutions with the Duck Creek Policy Administration™ product. This powerful combination provides carriers with customer information validation, data enrichment and geo-spatial analysis—all in a single API called directly from the Duck Creek™ user interface and entirely transparent to the business user.
“Two key areas of focus for Duck Creek Technologies are: helping insurance carriers get products to market more quickly and ultimately driving profitable premium growth,” said Kerrick Tweedy, co-founder, product manager, Duck Creek Technologies, Inc. “Integrating with Pitney Bowes Business Insight allows us to address both of these key initiatives. By making the integration available out-of-the-box, we help carriers get products to market more quickly. By bringing in the wealth of data provided by the Spectrum and Envinsa solutions, we give brokers and underwriters the information they need to do their jobs more effectively, therefore driving more profitable premium growth.”
“Insurance carriers want a policy administration system that is designed to automate key policy functions, define workflows and enable straight-through-processing of core business processes,” said Bill Sinn, strategic industry and marketing director, Insurance, Pitney Bowes Business Insight. “Our partnership with Duck Creek Technologies signifies our commitment to providing insurance carriers with the most advanced, intuitive and customer-friendly solutions to enhance their business operations.”
When an agent or underwriter enters data into the Duck Creek Policy Administration™ product it makes a web services call to Pitney Bowes Business Insight Spectrum Platform. Spectrum returns a comprehensive set of enriched data, including address verification, proximity to risk and emergency services, and identification of the exact location of the insured assets. This enhanced data is leveraged at multiple points throughout the underwriting process. For instance, if the policy is returned as an underwriting exception, Pitney Bowes Business Insight’s Envinsa® Location Intelligence Solution enables the carrier to visually compare the proximity of the policy to the existing book of business to determine risk accumulations and threats of over-exposure or aggregated risks within a catastrophe area.
In addition, the joint solution leverages the power of Pitney Bowes Business Insight’s EngageOne solution for policyholder communications. Specifically highlighted is the ability for underwriters to conduct in-line editing of policies and other communications to reflect specific coverage parameters not available in standard forms.
About Duck Creek Technologies ®
Duck Creek Technologies, Inc. is a leading provider of software and services to the insurance industry, providing next-generation policy administration, product definition and configuration, billing and rating for the Property & Casualty and Healthcare insurance markets. Duck Creek Technologies is dedicated to enabling customers to develop insurance products and to sell and service those products in their chosen markets with unprecedented speed to market, flexibility, reach and quality. Founded in 2000, Duck Creek Technologies is headquartered in Bolivar, Missouri, and has multiple offices within the United States, with its affiliate and licensing partner in Europe, the Middle East and Africa, Duck Creek Technologies Europe Ltd., headquartered in London. For more information, visit www.duckcreektech.com or call 866-382-5832.
About Pitney Bowes Business Insight
Pitney Bowes Business Insight, a division of Pitney Bowes Software Inc., a wholly-owned subsidiary of Pitney Bowes Inc., provides leading enterprises with solutions to acquire, serve and grow customer relationships. Our software and services enable organizations to turn data into critical customer insight that provides the competitive advantage required to succeed in today's global markets. With a deeper understanding of its customers, organizations can establish meaningful connections and build more profitable customer relationships. Visit www.pbbusinessinsight.com and www.pb.com for more information.
Duck Creek is a registered trademark or trademark of Duck Creek Technologies, Inc. All other trademarks are the property of Pitney Bowes Software, Inc.
© 2010. Pitney Bowes Software, Inc. and Duck Creek Technologies, Inc. All Rights Reserved.