Market Capitalization (Millions $) |
2,521 |
Shares
Outstanding (Millions) |
133 |
Employees |
1,883 |
Revenues (TTM) (Millions $) |
310 |
Net Income (TTM) (Millions $) |
-14 |
Cash Flow (TTM) (Millions $) |
34 |
Capital Exp. (TTM) (Millions $) |
4 |
Duck Creek Technologies Inc
Duck Creek Technologies is the leading cloud-based SaaS provider of core systems for the global property and casualty (P&C) and general insurance industry. Core systems comprise the end-to-end back-office infrastructure of insurance companies and include underwriting, rating and policy management; billing and payments; distribution management; claims management; reinsurance management; and data insights. Insurance companies choose Duck Creek Technologies' solutions for its flexibility and seamless cloud-based deployment or on-premises deployment, based on a respective insurance company's technology strategy.
We have achieved leadership by combining over twenty years of deep domain expertise with our technology platforms differentiated SaaS capabilities and low-code configurability. We believe we are the first company to offer carriers an end-to-end suite of enterprise-scale core system software designed specifically for SaaS deployment. Our product portfolio is built on our cutting-edge technology foundation, the Duck Creek Platform, and works together to improve the operational efficiency of insurers core processes and other critical functions. The Duck Creek Platform enables our customers to be agile and capitalize on market opportunities quickly, all while lowering their total cost of technology ownership. The Duck Creek Platform also offers convenience out of the box while being highly configurable and customizable.
The core business functions of insurers are complex and data rich, typically requiring large ongoing investments in domain specific technology. Heightened end-user expectations, increased competition, and new and evolving risks pose new challenges for carriers, creating the need for software that fosters agility, innovation and speed to market. However, a large portion of the P&C and general insurance market continues to rely on home-grown, legacy technology systems that are costly and inefficient to maintain, difficult to upgrade, and lack functional flexibility and sophistication.
Duck Creek Policy. A full lifecycle solution for the development of products as well as quoting, binding and servicing policies across all channels, from agents and brokers to end-users. Duck Creek Policy maintains all the coverages, limits and exclusions that are used to create specific products. It also serves as the system of record for any endorsements, additions or changes for policies in force. We also offer Underwriting Workbench, an add-on module that extends the underwriting functionality of Duck Creek Policy by providing the ability to group quotes and policies into accounts, giving a holistic view of information relevant to underwriting.
Duck Creek Billing. A solution that provides core payment and invoicing capabilities (such as billing and collections, commission processing, disbursement management and general ledger capabilities) for all insurance lines and bill types. Our billing system allows insurers to implement unique business rules and handle flexible payment plans to meet customer expectations and address increasingly complex billing strategies and practices. Our technology and automation allow greater control over billing processes and better management of payment collections, which can improve our customers' financial performance and customer service.
Duck Creek Claims. Supports the entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting and closure. Effective claims management is integral to carriers' profitability and has become increasingly complex, time-sensitive and data-dependent. Duck Creek Claims provides enhanced technology, enabling greater information sharing and collaboration as well as providing a configuration toolset that gives all users power over the application data, screens and processes.
We also offer the following products to further enable our customers to meet the challenges and increasing demands of the P&C and general insurance industry:
Duck Creek Rating. Duck Creek Rating can be implemented on a standalone basis or as a component of Duck Creek Policy. Duck Creek Rating gives insurers the ability to quickly develop new rates and models and delivers accurate quotes in real-time based on the complex rating algorithms that are unique to each carrier's line of business. To remain competitive in today's marketplace, insurers are re-evaluating the efficacy of their rating systems. Duck Creek Rating provides insurers more granular risk segmentation and greater pricing precision.
Duck Creek Insights. An insurance analytics solution that allows carriers to gather and analyze data from internal and external sources and facilitates rapid analysis and reporting in a single system. Duck Creek Insights allows carriers to use data as a strategic asset in real time, empowering them to quickly capture and leverage data across and beyond their organizations, deliver leaders and business users crucial information needed to execute intelligent actions and employ new methods of automated decision-making.
Duck Creek Digital Engagement. A family of offerings designed to provide intuitive, multi-channel digital interactions between P&C insurers and their agents, brokers and policyholders. Duck C9,000 insurance formsreek Digital Engagement offers online digital applications, including our Duck Creek Producer, AgencyPortal, Turnstile and AgencyConnect tools.
Duck Creek Distribution Management. A solution that automates sales channel activities for agents and brokers, including producer onboarding, compliance and compensation management, thereby reducing time spent on manual processes. Duck Creek Distribution Management helps carriers stay compliant with distribution licensing and reporting while also offering insurers the ability to quickly and effectively change producer commission plans using simple configurations.
Duck Creek Reinsurance Management. Automates critical financial and administrative functions required by primary carriers, such as contracts, bills, recoveries and payables, to manage contractual relationships and provide settlement with reinsurance providers. Duck Creek Reinsurance Management supports all reinsurance structures, provides a full audit trail and analytics and produces statements, bordereaux, cover letters, footnotes and supporting details.
Duck Creek Industry Content. Provides pre-built content (including base business rules, product designs, rating algorithms, data capture screens and workflows) for specific insurance lines of business, such as commercial auto, inland marine and workers compensation. In offering Duck Creek Industry Content, we actively maintain and update approximately 700 web-based screens and 9,000 insurance forms across several industry standard bodies such as AAIS, ACORD, ISO and NCCI, which reduces the effort required by our customers to comply with these standards.
Company Address: 22 Boston Wharf Road Boston 2210 MA
Company Phone Number: 724-3509 Stock Exchange / Ticker: NASDAQ DCT
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