(Diagram of Yodil Platform. Source: Yodil.)
Duck Creek Technologies (Columbia, S.C.), a provider of core system cloud services and software to the global property/casualty industry says that it will acquire Yodil, LLC (Charlottee, N.C.), a provider of insurance data management solutions. Duck Creek positions the agreement as further cementing its full core insurance suite market positioning.
“Yodil’s vision has been to offer a core system for data,” comments Fred Waite, CEO, Yodil. “Being part of Duck Creek realizes that vision, and will empower carriers to gain accurate insights into their business from virtually all of the data resources they employ, internal and external.”
Yodil touts the ability of its platform and what it characterizes as deep insurance content to help insurers to turn data into a corporate information asset capable of achieving differentiation and creating a competitive advantage in a disruptive business environment. The Yodil platform provides data management, quality and governance capabilities which it says can quickly reduce time spent in non-accretive activities. “With better, more reliable data, results of predictive modelling, advanced analytics, product development and pricing will be more accurate and create greater competitive advantage,” a Yodil source asserts.
Full Suite of Structured Insurance Data Stores
Together, Yodil’s software and the Duck Creek Insights data and analytics platform can position carriers to harness all of their data, analyze their operations, and optimize market opportunities, a Duck Creek statement says. The combination will also provide Duck Creek customers with a full suite of structured insurance data stores, from core system to warehouse to data mart, the vendor asserts.
“The combination of Duck Creek Insights with the Yodil Platform creates the data management standard for our industry,” says Michael A. Jackowski, CEO, Duck Creek Technologies. “Yodil’s great team of data experts and software engineers share our passion to provide the best technology to our customers.”