Duck Creek Technologies (Boston) announced today that Precisely (Burlington, Mass.), a provider of data integrity solutions, has launched a new integration with Duck Creek Policy, the tenth such integration between Precisely and the Duck Creek Platform to date, according to a Duck Creek statement.
The Precisely CAT Area Underwriting Embargo integration for Duck Creek Policy is designed to give carriers more control when it comes to writing policies in potential natural disaster areas such as wildfire and hurricane prone areas. This integration leverages Precisely Spectrum Spatial to manually select areas that are seen as high risk to the carrier.
“Leading Insurers must manage and extract insights from a wide array of location and other data sources which fuel their underwriting decisions,” comments Clarence Hempfield, Senior VP, Product Management, Precisely. “With Spectrum Spatial, you can integrate and orchestrate data from different databases, applications, formats, and data types to quickly gain a richer, more complete view of opportunities and risks through powerful location analytics and visualization. We’re excited to launch this integration with Duck Creek Policy and help our mutual customers underwrite risk more accurately with trusted data.”
Duck Creek describes Duck Creek Policy as enabling P&C carriers to deliver insurance products at scale in an era of rapid, customer-centric innovation and growth. The Policy product supports the full insurance policy lifecycle process with automation and workflow management capabilities, an integrated development environment for insurance products, and pre-built content, according to the vendor. “Using low-code tools and delivered though a software-as-a-service (SaaS) model, carriers can go to market faster, increase operational efficiencies, and improve customer satisfaction,” the Duck Creek statement says.
“Location intelligence software and data empower you to tackle some of your toughest challenges and position your insurance organization for profitable growth,” said Jeff Winter, Chief Marketing Officer of Duck Creek Technologies. “This integration uses a vast data set to help insurers make underwriting decisions in some of the most challenging areas they cover, and we are proud to continue our relationship with Precisely as a valuable member of our Partner Ecosystem.”
Source: Insurance Innovation Reporter
