Duck Creek Technologies Strengths, Domain Expertise, and Key Differentiators
Duck Creek Technologies is a software suite offering comprehensive, full-featured property & casualty insurance software and SaaS solutions. Its configurable solutions are designed to work as a full end-to-end suite or as individual standalone components that adapt quickly and seamlessly to handle the unique needs of insurers of all sizes. Insurers can benefit from Duck Creek Claims either through traditional licensing agreements or by subscribing to its Software-as-a-Service (SaaS) model. This model provides full support and services, typically on a "pay per Claim basis", which can lead to substantial Total Cost of Ownership (TCO) improvements.
Duck Creek Technologies Recent Developments
In June 2020, DuckCreek expanded its Anywhere Integration program by introducing a new development portal for insurance technology solution providers during one of the provider’s live vFormation virtual event sessions. Duckcreek.dev allows integrations to Duck Creek solutions to be built by third parties without requiring extensive knowledge of the Duck Creek Platform. Using pre-built patterns, solution providers can integrate their products and services into Duck Creek workflows with little to no assistance from Duck Creek.
In February 2020, Verisk, a leading data analytics provider, and Duck Creek Technologies launched additional Verisk underwriting solutions, available on Duck Creek’s Content Exchange, that will enable insurer customers to easily access robust data on applicants’ previous coverage and loss history. One of Verisk’s solutions, Coverage Verifier™, will enable insurers that use Duck Creek solutions to seamlessly submit auto coverage history data to Verisk and gain access to tools to verify coverages of policyholders. Another Verisk solution, A-PLUS™, will allow Duck Creek’s insurer customers to easily contribute property and auto claims data to Verisk and obtain loss run reports with detailed claim histories on risks they’re looking to insure.
Duck Creek Technologies Mergers and Acquisitions (M&A) Activities
In March 2023, Vista Equity Partners finalized the acquisition of Duck Creek Technologies for $19.00 per share, marking a significant investment in the enterprise software sector. This all-cash transaction, totaling approximately $2.6 billion, underscores Vista's commitment to technology-enabled businesses.
Duck Creek Technologies Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Duck Creek Technologies applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Duck Creek Technologies and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Duck Creek Suite, customers.
Duck Creek Technologies Overview
22 Boston Wharf Road, Floor 10
Boston, MA, 2210, United States
1 833-798-7789
https://www.duckcreek.com/
Ownership: - Vista Equity Partners
Number of Employees: 2039
Functional Markets: Analytics and BI, Content Management, CRM, ERP Financial, ERP Services and Operations,
Key Verticals: P&C Insurance,
Duck Creek Technologies Key Enterprise and Cloud Applications
Duck Creek Suite,
Duck Creek Technologies Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Duck Creek Technologies Revenue Breakdown By Type, $M:
Duck Creek Technologies Enterprise Applications Revenues By Functional Markets, $M:
Duck Creek Technologies Enterprise Applications Revenues By Verticals, $M:
Duck Creek Technologies Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Duck Creek Technologies Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Duck Creek Technologies Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Duck Creek Technologies Customers
No. of Duck Creek Technologies Customers: 200+
No. of Duck Creek Technologies Enterprise Applications Customers: 200+
No. of Duck Creek Technologies Cloud Customers: x
No. of Duck Creek Technologies Cloud Subscribers: x
Duck Creek has over 150 insurance customers, including the top five North American insurance carriers. Many of their customers serve multiple lines of insurance (including personal, commercial and specialty). In addition, some of their customers operate Duck Creek solutions in multiple countries. Customers range from large national and multinational carriers, such as Progressive, Liberty Mutual Insurance, AIG, The Hartford, Berkshire Hathaway Specialty Insurance, GEICO, and Munich Re Specialty Insurance to regional carriers, such as UPC Insurance, Farm Bureau Financial, Avant Mutual, IAT Insurance Group, and Mutual Benefit Group.
Duck Creek Technologies Market Opportunities, M&A and Geo Expansions
In June 2020, leading investment firms Kayne Anderson Rudnick Investment Management and Whale Rock Capital Management, along with prior investors, have invested $230 million in Duck Creek. Duck Creek will use the proceeds for continued investment into its business growth, with a focus on extending the capabilities of the company’s SaaS solutions, and to repurchase equity from certain existing investors. The new commitment of capital comes as the company continues to invest heavily in product development and international expansion.
In June 2020, insurance technology expert Juan Antonio Costa joined Duck Creek as Country Manager, Spain & Portugal, in the company’s newly-opened Madrid office, in charge of bringing the benefits of Duck Creek’s solutions to a new market and broader audience.
Duck Creek Technologies Risks and Challenges
Scaling its customer base to other markets aswell as improving their cloud product portfolio could affect Duck Creek's strategy and growth.
Duck Creek Technologies Ecosystem, Partners, Resellers and SI
In 2020, Duck Creek expandeded its Partner Ecosystem program through a new relationships with Xceedance, BitSight, Cytora, Gradient AI, Terrene Labs, SambaSafety and TransUnion.
Duck Creek`s eco system is comprised of Systems Integrators, Solution Partners, and Consulting Partners that provide complementary distinct solutions and services to get you to market quickly. Some of the partners are: Accenture, Capgemini, LexisNexis, Hyland, BitSight, Terrene and many others.
Duck Creek Technologies Cloud Infrastructure Insights
Subscribe to read more about:
- Duck Creek Technologies Public Cloud and Infrastructure (IaaS)
- Duck Creek Technologies Platform (PaaS)
- Duck Creek Technologies Application Delivery
- Duck Creek Technologies Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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