Philadelphia Insurance Companies Selects Duck Creek Technologies OnDemand to Launch New Offering for Small Commercial
Duck Creek Technologies (Nasdaq: DCT), a leading, global technology solutions provider to the property and casualty (P&C) insurance industry, announced that Philadelphia Insurance Companies (PHLY) has selected Duck Creek Policy and Duck Creek Producer from its full suite of software-as-a-service (SaaS) core system solutions to launch a new line of commercial insurance in North America. Philadelphia Insurance Companies is a premier national property-casualty and professional liability insurance carrier that designs, markets and underwrites commercial products and services, and is a member of the Tokio Marine Group (TKOMY), Japan’s oldest and leading property-casualty insurer.
Philadelphia Insurance Companies is preparing to enter a new line to enhance their US commercial business offerings in 2023. After a careful review of market-ready solutions, they chose Duck Creek OnDemand for its scalability, extensibility, and ease to launch commercial lines products using templated, low-code configurations. Duck Creek also offered PHLY a digital-first approach via Duck Creek Producer to optimize customer experience and enhance existing distribution channels.
Together with these modern insurance capabilities, Philadelphia Insurance Companies will be able to stand up a simple, low-touch policy that leverages third-party content, as well as prefill and straight through processing tools to deliver a competitive new offering to insurance buyers in the small commercial market.
“We identified a market opportunity and a need in the small commercial market that we wanted to address rapidly, which meant standing up an offering without any back-end constraints or integration challenges,” said Bob Pick, CIO of PHLY. “Duck Creek’s ready-to-use system is advantageous in allowing us to meet this vision, while giving us the runway to scale as the business grows and our solutions become more innovative for small commercial customers.”
“I have long admired Philadelphia Insurance Companies and their mission to deliver innovative products to niche insurance markets,” said Michael Jackowski, CEO of Duck Creek Technologies. “The most effective partnerships begin with alignment of purpose, and we share a strong belief in enhancing value to customers through continued innovation. This is an exciting opportunity for both companies to work together and create a new standard for small commercial insurance solutions in North America.”
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