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 Accenture Duck Creek Claims either through traditional licensing agreements or by subscribing to its Software-as-a-Service (SaaS) model. This model provides full Accenture support and services, typically on a "pay per Claim basis", which can lead to substantial Total Cost of Ownership (TCO) improvements.
With over 20 patents and about 40 patents pending, Accenture Duck Creek Claims offers highly componentized software that features a unique set of capabilities for insurers looking to increase competitive advantage. Accenture Duck Creek Claims was developed on the .NET framework and is certified with Microsoft SQL Server databases, but it is designed to be database-agnostic and is in production at some customers with databases other than SQL.
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 August 2016, Accenture completed the sale of a majority stake in Duck Creek Technologies to funds advised by Apax Partners, a leading global private equity firm. As part of the agreement, which was originally announced on April 18, Accenture and Apax have formed a joint venture in which Apax funds hold a 60 percent stake in Duck Creek Technologies, and Accenture retains a 40 percent stake. Duck Creek will leverage new access to capital to accelerate development and expansion of property and casualty (P&C) insurance technologies.
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
Ownership: - x
Number of Employees: 1300
Duck Creek Technologies Key Enterprise and Cloud Applications
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* 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.
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Duck Creek Technologies Customers - Breakdown by Geo, Size, Vertical and Product
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Accenture Duck Creek is used by more than 65,000 claims professionals worldwide and manages more than 40 million claims a year. Accenture Duck Creek Claims has a well-established customer base of 21 customers in production in the U.S. and Canada, eight customers in production in Europe and one customer in production in Japan.
Accenture Duck Creek's recent customers are Baldwin & Lyons, Inc., West Bend Mutual Insurance Company, Zurich Insurance PLC, Berkshire Hathaway Specialty Insurance (BHSI), Southern Trust, Millers Mutual Group, Coverys. Among its policy & rating, customers are 1st Central, American Safety Insurance, Auto-Owners Insurance, Chubb Specialty Group, Cochrane, Concord Group Insurance, HUB International, Mutual Benefit Group, North American Program Manager, Specialty commercial insurance company, Torus Insurance, Tower Group, RLI Insurance Company. Accenture claims customers are: Affirmative Insurance, Allstate, Mutual Benefit Group, XL Group, XL Insurance.
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.
Accenture Duck Creek delivery partners include Avanade, Discoverture, Syntel, and TCube, all of whom offer configuration and systems integration accelerators. Its solution partners are: Advisen Commercial risk data; AssureSign Electronic signature; Finity Consulting Actuarial and pricing (Australia/New Zealand); FirstBest Underwriting Workstation; HP Exstream Customer communications management; OnBase by Hyland Enterprise content management; ISO - Data, analytics and decision support services for the P& C industry; Microsoft DynamicsCustomer relationship management; Outline Systems' Producer management; OutsideIQ' Real time big data analysis; Pitney Bowes Location intelligence and data quality; Preview - IT strategy (Australia/New Zealand); and Yodil Data warehouse, business intelligence and reporting.
Duck Creek Technologies Cloud Infrastructure Insights
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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).
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