(Image source: Duck Creek.)
Duck Creek Technologies, (Boston) a core system/insurance platform for the property/casualty industry, has announced the release of Duck Creek Clarity, a cloud-native technology solution and the successor to Duck Creek Insights, designed to empower insurers with advanced data management, reporting, and analytics capabilities. With the introduction of Duck Creek Clarity, the company says it is modernizing the traditional technology upgrade cycle through a unique “Active Delivery” approach, which provides continuous updates and eliminates the need for insurers to undergo timely and costly upgrade projects.
Duck Creek Clarity is a cloud-native offering that simplifies the process of accessing, managing, and unifying data originating from Duck Creek’s SaaS-based core systems, including policy, billing, and claims solutions, according to a statement from the vendor. With the ability to seamlessly integrate external data sources, Duck Creek Clarity enables teams to gain comprehensive insights, leading to enhanced decision-making and improved loss ratios, Duck Creek says. The vendor adds that insurers can harness the service for both daily operational reporting and strategic long-term planning, setting the stage for portfolio-wide improvements.
Duck Creek Clarity uses the Snowflake Data Cloud to equip insurers with curated data layers and a suite of pre-built business intelligence dashboards and reports, facilitating more informed underwriting and renewal decisions, as well as team performance evaluation. The new offering is also designed to simplify data integration into AI/ML (artificial intelligence/machine learning) models, consumer and agent/broker applications, and third-party systems, empowering insurers to make well-informed decisions at every stage of the insurance lifecycle, from underwriting to billing and claims.
“We are ushering in a new era of data-driven excellence with the launch of Duck Creek Clarity,” comments Jess Keeney, Chief Product & Technology Officer, Duck Creek Technologies. “Duck Creek has proven the solution’s robust capabilities are an essential element that supports data ownership and agile decision-making, which offers insurers a greater competitive edge in the marketplace. This is only the beginning of Duck Creek’s commitment to ongoing investment in data and analytics that enable insurers across the globe to be smarter and faster in their response to market opportunities. Duck Creek Clarity is a pivotal step in our technology roadmap vision to provide insurers with the means to ‘execute with intelligence,’ optimize operational efficiencies, and provide more personalized customer experiences.”
Breaking Down Silos, Accelerating March toward Data Maturity
“Data is a critical building block for insurance companies looking to unlock the true power and efficacy of advanced analytics and generative AI,” comments Tom Benton, Partner at ReSource Pro (formerly known as Strategy Meets Action). “Insurers need data management and analytics tools like Duck Creek Clarity that can break down data silos and provide a path toward rapidly accelerating their level of data maturity, and ultimately help insurance product management, underwriting, and claims teams make smarter decisions and deliver more differentiated customer experiences.”
Duck Creek has scheduled a live product launch webinar for Thursday, December 7, 2023, at 12:00 p.m. ET to demonstrate Duck Creek Clarity’s capabilities for empowering data-driven insurance decisions.