Overview
Duck Creek Policy enables P&C carriers to deliver insurance products at scale in an era of rapid customer-centric innovation and growth. With automation and workflow management capabilities, an integrated development environment for insurance products and pre-built content, carriers can go to market faster, increase operational efficiencies, and improve customer satisfaction with Duck Creek Policy.
Key Features
Full policy lifecycle management
Duck Creek Policy provides out of the box functionality for the entire policy lifecycle including quote, bind, issuance, endorsements, cancellation, reinstatement, rewrite, reissue, restart, and audit processing. All of which can be automated to enable rules-driven straight-through processing or as part of high-touch workflows.
Omnichannel support
Duck Creek Policy can be exposed to any channel via APIs to incorporate analytics and 3rd party data or enable customers and agents to engage with carriers on mobile, desktop, and through the carrier’s proprietary user interfaces.
Low-code configuration tools
Duck Creek Policy provides an integrated development environment for codeless configuration of products, workflows, forms, documents, and user experiences with low-code tools that enable product experts to implement changes without writing code.
Inheritance Model
Duck Creek enables hyper-speed to market with low code configuration and robust inheritance model.Duck Creek’s inheritance model reduces repetition and errors across products, enabling rapid growth creating greater economies of scale.With a well-defined inheritance structure, carriers can consolidate product lines under a single system and achieve increased efficiencies as product counts increase.
Pre-built templates
Duck Creek Industry Content delivers pre-built rates, rules, forms, statistical coding, and state taxes, fees, and surcharges defined by ISO, NCCI, and other bureaus.
Key Benefits
Improve underwriting performance
Duck Creek Policy delivers consistent underwriting outcomes through rules-based processing during straight-through processing or high-touch workflows. The openness of the Duck Creek Platform enables carriers to integrate data and predictive analytics that improve risk selection and pricing.
Improve customer satisfaction
Rapidly responding to shifting customer needs with new or updated products is made possible with the configurability and scalability of Duck Creek’s Policy platform. As product requirements are identified, they can be easily implemented by business users without having to write code or repeating the process of creating definitions that are commonly found in all products. In addition, carriers can meet self-service demands of customers, agents, brokers and other third-party entities by configuring customized, multichannel access to Duck Creek Policy’s features.
Increase operational efficiencies
Duck Creek Policy increases operational efficiencies by automating and streamlining manual processes, providing out-of-the-box content, eliminating the need to program or hard-code changes with low-code configuration tools. These capabilities can reduce expense ratios and improve core operation performance by providing faster responses to inquiries, running significantly higher volume workflows when needed, and increasing speed to market with accelerated development of new and updated products.
