(Image credit: David Brooke Martin.)
Duck Creek Technologies has announced an expansion its offerings through a new relationship with Milliman, Inc. For insurers seeking deeper understanding of their litigation bills and effective cost-benefit analyses of their defense strategies, Milliman’s Datalytics-Defense platform provides enhanced granular data and the necessary tools for those critical insights, according to the Duck Creek announcement. The platform incorporates what the statement characterizes as powerful data-mining algorithms, along with a robust data warehouse environment, to provide carriers with the tools necessary to better manage their defense costs and develop a best-practice approach towards claims management.
“To effectively mitigate and manage risk, today’s insurers need specialized analytics systems that employ techniques like machine learning and data mining,” comments Chad Karls, product leader, Datalytics-Defense, Milliman. “Teaming up with Duck Creek and leveraging the Duck Creek Anywhere API is a natural fit for us, and we are excited to help even more insurers efficiently process vendor invoices, conduct audits, monitor workflows, and review key claims management reports in real time.”
Datalytics-Defense extends the capabilities of Duck Creek Claims by enabling carriers to use analytics and algorithms to detect patterns in attorney billing practices, thus allowing a better understanding of litigation costs and strategies, according to the vendor. Duck Creek reports that it has collaborated with Milliman to jointly develop an Anywhere Enabled Integration, now available on the Duck Creek Content Exchange, for insurers looking to expedite implementation through Duck Creek’s Anywhere API program.
Addressing the Rising Costs of Claims Litigation Defense
“The rising costs of claims litigation defense is an important issue for our industry, to which Milliman is applying unrivaled expertise and cutting-edge analytics technologies,” comments Eddie Jones, VP, Strategies and Alliances, Duck Creek Technologies. “Datalytics-Defense gives carriers the critical information they need to create smarter strategies and implement best practices, and Duck Creek is thrilled to welcome them into our rapidly-growing ecosystem.”