Duck Creek and Adiona team up to revolutionise UK Motor Insurance with multi-faceted SaaS solution and scalable business model
Duck Creek Technologies (Nasdaq: DCT) announced today that it has partnered with a new UK insurtech motor insurer, Adiona, to offer insurance policies with premiums built on data / telematics, artificial intelligence and machine learning that provide fair and transparent pricing based on the driving habits of each insured customer.
Launched in September 2021 with experienced insurance, consumer and technology executives, Adiona is a customer-focused start-up that aims to change how drivers are charged for motor insurance. The company has developed a modern tech-first insurance product that leverages data at scale to deliver a revolutionary customer experience.
Adiona chose Duck Creek for the strength of its On Demand SaaS (Software as a Service) solution and the breadth of the offerings available through its partner ecosystem. Duck Creek’s platform gave Adiona the flexibility of allowing this new entrant to the motor insurance market to create a sustainable business and provide coverage tailored to each consumer’s unique circumstances, with the most exacting of technologies for policy rating and pricing.
Duck Creek Technologies CEO Michael Jackowski said:
“Adiona is set to disrupt the motor insurance industry in the UK by using evergreen technologies and more data than ever before to deliver fairness and transparency to drivers. The potential for it to change the landscape of motor insurance is unparalleled, and we at Duck Creek are proud that it has chosen us as its partner to build a new organisation based on SaaS solutions that scale with businesses of any size. Insurers in this space that are still shackled to legacy systems and outdated business models are officially on notice.”
Paul Harvey, Founder/CEO of Adiona, said:
“The problem with motor insurance today is that it’s expensive and based on other people’s driving – but it shouldn’t be. Everyone should have adequate and affordable motor insurance and be rewarded for good, responsible driving. Using best-in-class hyper scalable SaaS technology via the Duck Creek platform, we will provide simple, ongoing insights into actual driving data – highlighting good and bad driving habits and rewarding good drivers. We are thrilled to be Made on Duck Creek, focusing our resources on pricing, insured pool management, crash and claim, and customer engagement algorithms to deliver a truly customer-centric experience. Our Duck Creek relationship gives us scalability, security and time to market competitive advantage.”
Duck Creek On Demand is a cloud-based, SaaS delivery solution that includes a full suite of end-to-end applications, providing all services, support, and computing resources carriers need. By using the best available technology and continuously delivering new functionality to solve ever-changing P&C insurance business challenges, On Demand enables a fundamentally new approach for insurance carriers to compete in today’s industry.