Duck Creek Insights brings new analytic capabilities to P&C insurers worldwide
Duck Creek Technologies announces the launch of Duck Creek Insights, a reporting product that provides property and casualty (P&C) insurers with the ability to access and analyze operational and financial data from across the enterprise. Available as part of the Duck Creek 2016 release, this new product centralizes and normalizes data from across the entire suite of software, and it can also act as a repository for third-party core system data sources, beyond Duck Creek systems. This provides insurers the ability to analyze information from across their enterprise for a complete view of their organization.
Duck Creek Insights delivers two primary components that any insurers using the newest software can employ:
- Insurance Data Hub centralizes data collection into one repository for reporting and extraction to other downstream systems as needed. Through this consolidated view of the business, insurers can obtain valuable insights into their operations and take action based on company need. This component is extensible and therefore capable of supporting the industry’s most unique data challenges. It is also pre-integrated with Duck Creek’s suite of software, providing out-of-the-box import of their data.
- Financial Reporting gathers insurance-based financial transaction data from Duck Creek and other integrated core systems into one repository and offers readily-available financial and regulatory reporting formats as well as the ability to prepare customized extracts. Financial Reporting also supports the ability to perform full financial STAT data collection, thus enabling the carrier to more easily prepare for their bureau reporting requirements, as well as perform both standard and advanced financial business analytics.
“Data has been collected and available to insurers for years, but it’s how the information is being applied that is fundamentally changing business operations,” said Patti Griffin, chief product officer, Duck Creek Technologies. “To make informed decisions, businesses should be including data points from all areas of the enterprise within their reporting. The financial and operational analysis will be more thorough with a comprehensive perspective of the company.”
Duck Creek Insights is a new product offered with the latest suite release that incorporates Duck Creek Billing, Duck Creek Claims, Duck Creek Policy and Duck Creek Rating software, which can be deployed through an on-premise implementation or via Duck Creek On-Demand, a differentiated Software as a Service model accessed via the cloud.
About Duck Creek Technologies
Duck Creek Technologies is a leading provider of comprehensive P&C insurance software and services for insurers of all sizes worldwide. Employing progressive technology, Duck Creek solutions enable insurers to optimize outcomes and enhance engagement through advanced digital and data capabilities and integrated functionality that can be delivered via the cloud or on-premise. For more information, visit www.duckcreek.com.
