Duck Creek Technologies: Driving Innovation in P&C Insurance
Duck Creek Technologies, a leading provider of intelligent solutions for the property and casualty (P&C) insurance industry, has been chosen by Silicon Valley-based telematics startup Novo Insurance as its technology platform for policy, billing, insights, and data hub solutions. This partnership will enable Novo Insurance to bring its auto insurance products to market more quickly, leveraging Duck Creek’s low-code and configurable open architecture platform, Duck Creek OnDemand.
Novo Insurance, a subsidiary of Telenav, a provider of connected car and location-based software and services, is planning to launch in multiple states in 2023, offering daily route recommendations based on real-time road intelligence, live data updates, and historical safety scores, using powerful analytics based on Novo’s extensive Location Based Services capabilities.
With Duck Creek OnDemand, Novo Insurance can streamline its operations and improve efficiency, allowing the company to focus on delivering innovative auto insurance products to its customers. Duck Creek Claims, a comprehensive claims management solution, will help insurers manage the entire claims lifecycle.
Jess Keeney, chief product and technology officer at Duck Creek Technologies, said, “Novo is quickly bringing auto insurance innovations to US consumers using their rich location-based technology. As a start-up operation, Novo Insurance recognized that Duck Creek’s modern cloud solutions are market-leading and trusted. With simplified low-code configuration, they saw that we will get them where they want to be across their US and global markets quickly and efficiently.”
Sal Dhanani, COO and co-founder of Telenav, added, “Duck Creek is known for their excellence in their SaaS-based core systems and provide the highest level of quality and performance. By partnering with them, we are able to launch new products quickly, reach new customers, and provide differentiated consumer experiences.”
Earlier this year, Duck Creek Technologies completed its acquisition of global investment firm Vista Equity Partners. This acquisition will help Duck Creek accelerate its growth and continue to drive innovation in the P&C insurance industry.
In conclusion, Duck Creek Technologies is leading the charge in driving innovation in the P&C insurance industry. Its partnership with Novo Insurance is just one example of how Duck Creek’s intelligent solutions are helping insurers manage risk, improve efficiency, and bring innovative products to market quickly and efficiently. With its recent acquisition of Vista Equity Partners, Duck Creek is well-positioned to continue its growth and expand its reach in the years ahead.
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