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Builders Mutual Insurance (Raleigh, N.C.), a major writer of commercial insurance for the construction industry in the Mid-Atlantic and Southeast U.S., has leading writers of commercial insurance for the construction industry, has selected Duck Creek Distribution Management and Duck Creek Reinsurance Management to better support its agents and reinsurance operations, according to the vendor. The carrier cited outdated homegrown systems as a major factor in this decision to move to SaaS-based, vendor-agnostic solutions that can integrate with any core systems, a Duck Creek statement says.
Duck Creek Distribution Management helps property/casualty insurers effectively drive revenue growth through their producer networks, according to the Duck Creek statement. “With the ability to optimize onboarding, compensation, and relationship management processes related to their sales channels, as well as automate activities and make changes on the fly with low-code configurations, carriers can increase the productivity of their producer networks while increasing their own operational efficiencies and ensuring continuous compliance,” the vendor statement says
The vendor says that Duck Creek Reinsurance Management’s analytics tools offer 360-degree policy, claims, partner, and treaty overviews, along with a reconciliation tool for validating direct and ceded transactions. It offers real-time management reports, export and email capability, and Schedule F Part III functionality. The solution allows carriers to drill down to better understand their reinsurance exposures and inuring schema, and take advantage of a complete and hardened audit trail that enables full compliance, the vendor asserts.
Automating Key Processes
“We are thrilled that Builders Mutual has chosen Duck Creek Distribution Management and Reinsurance Management to continue their digital transformation,” comments Jeff Wargin, Chief Product Officer, Duck Creek Technologies. “Automating many key processes will enable the carrier to focus on their agents and insureds instead of managing legacy systems and handling tedious manual processes, and we look forward to helping them continue their success.”