(Sunset over the Pacific Ocean, captured by Expedition 7 crew member onboard the International Space Station. Photo credit: NASA.)
In preparation for a strategic growth initiative, Pacific Specialty Insurance Company has chosen Accenture Duck Creek Suite to replace its legacy policy administration system. The Menlo Park, Calif.-based carrier will use a software-as-a-service version of the system supported by the Accenture Cloud Platform, using Microsoft Azure.
“We are making significant investments in our technology infrastructure and chose Accenture Duck Creek because it is an industry-leading solution that will bring significant value to our strategic objectives,” comments Jim P. Lee, CIO, Pacific Specialty Insurance Company. “Mobilizing the Duck Creek platform in a cloud-based environment will afford us the opportunity to leverage the end-to-end capabilities of Accenture Duck Creek, reducing our infrastructure operating expenses while enabling us to focus on providing competitive products and services to meet the needs of our customers and stakeholders.”
(Related: Aspen US Insurance Moves GL Lines Processing to Accenture Duck Creek)
In addition to its goals of profitable growth, the carrier will use the solution to enhance underwriting effectiveness, reduce loss costs and improve customer retention, according to Accenture. The Duck Creek Suite will support product development, improve policy, billing and claims administration and provide Pacific Specialty with the automation and functionality to streamline operations, quickly adapt to market changes and better serve agents and customers, according to the vendor.
Mike Jackowski, Global Managing Director, Accenture Duck Creek.
“Pacific Specialty’s decision to transition their core systems using a SaaS model reflects their commitment to innovate in order to meet market demand,” said Michael A. Jackowski, global managing director of Accenture Duck Creek. “This is a significant initiative at Pacific Specialty and we’re thrilled to support their efforts by delivering a solution that improves efficiencies, reduces costs and provides a better experience for their customers and employees.”
Benefits of having the Duck Creek Suite delivered through the SaaS model include lower upfront costs, timely and predictable upgrades and contracted service levels, according to Patti Griffin, global product lead, Accenture Duck Creek. “Implementation of a SaaS model on the Accenture Cloud Platform enables carriers to focus on running their insurance business and delivering exceptional customer service rather than being concerned with the infrastructure necessary to host robust software platforms such as the Accenture Duck Creek Suite,” she says.
The vendor offers the following information on the Suite and cloud delivery option:
The Accenture Duck Creek Suite includes policy, rating, billing and claims solutions. Each component can be implemented independently or combined for an integrated approach to manage all aspects of the P&C insurance lifecycle. Value can be attained via on-premise software or as Software as a Service.
The Accenture Cloud Platform supports multi-platform environments with self-service provisioning for any application. Its central dashboard controls cloud services and enables management, and provides the enterprise-grade governance, reliability, security and operations that enterprise clients expect.