Boston, March 15, 2022 (GLOBE NEWSWIRE) — Duck Creek Applied sciences (Nasdaq: DCT), a number one, world know-how options supplier to the property and casualty (P&C) insurance coverage trade, introduced that Philadelphia Insurance coverage Corporations (PHLY) has chosen Duck Creek Coverage and Duck Creek Producer from its full suite of software-as-a-service (SaaS) core system options to launch a brand new line of economic insurance coverage in North America. Philadelphia Insurance coverage Corporations is a premier nationwide property-casualty {and professional} legal responsibility insurance coverage service that designs, markets and underwrites industrial services, and is a member of the Tokio Marine Group (TKOMY), Japan’s oldest and main property-casualty insurer.
Philadelphia Insurance coverage Corporations is making ready to enter a brand new line to reinforce their US industrial enterprise choices in 2023. After a cautious overview of market-ready options, they selected Duck Creek OnDemand for its scalability, extensibility, and ease to launch industrial strains merchandise utilizing templated, low-code configurations. Duck Creek additionally supplied PHLY a digital-first strategy by way of Duck Creek Producer to optimize buyer expertise and improve current distribution channels.
Along with these fashionable insurance coverage capabilities, Philadelphia Insurance coverage Corporations will be capable to rise up a easy, low-touch coverage that leverages third-party content material, in addition to prefill and straight by way of processing instruments to ship a aggressive new providing to insurance coverage consumers within the small industrial market.
“We recognized a market alternative and a necessity within the small industrial market that we wished to handle quickly, which meant standing up an providing with none back-end constraints or integration challenges,” stated Bob Choose, CIO of PHLY. “Duck Creek’s ready-to-use system is advantageous in permitting us to fulfill this imaginative and prescient, whereas giving us the runway to scale because the enterprise grows and our options turn into extra modern for small industrial prospects.”
“I’ve lengthy admired Philadelphia Insurance coverage Corporations and their mission to ship modern merchandise to area of interest insurance coverage markets,” stated Michael Jackowski, CEO of Duck Creek Applied sciences. “The best partnerships start with alignment of objective, and we share a robust perception in enhancing worth to prospects by way of continued innovation. That is an thrilling alternative for each corporations to work collectively and create a brand new normal for small industrial insurance coverage options in North America.”
About Philadelphia Insurance coverage Corporations
Philadelphia Insurance coverage Corporations designs, markets, and underwrites industrial property/casualty {and professional} legal responsibility insurance coverage merchandise incorporating worth added coverages and providers for choose industries. The Firm is rated “A++” (Superior) by AM Finest Firm and “A+” for counterparty credit score and monetary power by Customary & Poor’s. In enterprise for 60 years, PHLY is nationally acknowledged as a member of Ward’s Prime 50, one of many Finest Locations to Work in Insurance coverage, and amongst Forbes’ record of America’s Finest Midsized Employers. The group is strategically situated throughout the USA to supply superior service. For extra info, please go to www.PHLY.com.
About Duck Creek Applied sciences
Duck Creek Applied sciences (Nasdaq: DCT) is a number one supplier of core system options to the P&C and normal insurance coverage trade. By accessing Duck Creek OnDemand, the corporate’s enterprise software-as-a-service answer, insurance coverage carriers are in a position to navigate uncertainty and seize market alternatives quicker than their opponents. Duck Creek’s functionally-rich options can be found on a standalone foundation or as a full suite, and all can be found by way of Duck Creek OnDemand. For extra info, go to www.duckcreek.com.