Overview
Duck Creek Technologies Inc. is a provider of SaaS-delivered enterprise software to the property and casualty (P&C) insurance industry. Widely adopted by global insurers, Duck Creek is an industry leader in predictive analytics solutions.
A key differentiating factor of the predictive analytics solution is its platform-based product strategy which features policy administration, billing, claims, reporting, portal components, and commercial and personal lines product templates. A silver partner to Duck Creek, HCLTech’s capabilities span the entire process blueprint, from initial implementation projects to unique application, maintenance and support solutions, and is acknowledged by research analyst firms.
HCLTech-Duck Creek Partnership Capabilities
Implementation services for Configuration, Integration, and Testing
Implementation services to Configure, Test, and Maintain a service-based rating solution
Implementation services for integrated billing and payment solution
HCLTech Solutions with Duck Creek
An underwrite ‘what if’ tool that uses historical data for pricing optimization. The UW assist is a supplemental process with three elements:
- Refine the pricing parameters based on historical policy and claims data as practical and as far back as possible
- Identify risk-specific factors that can either be used as is or used in a calculation to assist in revised pricing /span>
- A tool to assist underwriters in ‘what if’ scenarios. Here the underwriter gets to change the values for the predetermined parameters to see the impact on pricing. The underwriter can further assess premium pricing across policies of same premium value and decide whether to alter the quoted premium
Photo based claim assessment using ‘Claim Genius’ Artificial Intelligence solution. The ‘digital claims experience’ contains the following solution components:
- AI based auto-claim assessment with ClaimGenius
- Outlier assessment for fraud using Daisy Intelligence
- HCLTech iDo/Exacto intelligent document solutions
- HCLTech PowerObjects Dynamics CRM/Power apps-based insurance solution
- Predictive analytics solutions for Business Intelligence and claim reserves
- Tool-agnostic RPA offerings for process automation
An ability to offer appropriate coverage and limits based on client budget. The key benefits of the iPrice solution are:
- Price-based coverage for increased quote-to-policy conversion
- Enabling the user to do more informed buying
- Improved user experience
- Enabling the user to get more out of their policy
- Interactive pricing
Implementation framework for integrating Duck Creek in a client multi-tier eco system with a separate customer experience layer using intelligent automation. HCLTech has expertise in various UI model implementation of core system products such as:
- Extend Core UI
- Hybrid UI
- Fully Developed UI
