Duck Creek Technologies (Nasdaq: DCT) announced today that it has entered into a partnership with global information services company Experian which will help general insurance providers in the U.K. market to enhance the quality of their underwriting and claims handling, delivering more detailed risk profiles through enhanced consumer data.
The partnership will deliver an on-demand Software as a Service (SaaS) solution using Experian’s iCache platform – which integrates critical and accurate risk information during the underwriting process for motor, buildings, and contents insurance.
iCache enables insurers to gain a better understanding of customers, from financial status to risks associated with their homes or vehicles. The rich datasets include both public market and semi-public data about consumers, including credit and fraud scores, which will give customers extra confidence to better manage their financial position and protect against issues such as fraud and identity theft.
By using Duck Creek’s Platform, Experian will have a single point of configuration and, therefore, a holistic view of customer data – which means that their general insurer partners can deliver timely and personalised service in a secure environment to meet ever-changing customer demands.
Duck Creek Technologies Partner Go-To-Market Leader Douglas Rudd said:
“This partnership with Experian is an exciting development for both parties and will initially be specific to the U.K. market, whereby we can jointly serve and add significant value for insurers and their customers.
Combining the breadth of critical consumer Experian data with the technical market know-how and expertise provided by Duck Creek are key to helping insurers accelerate their speed to market and operational resilience.
We are very pleased that Experian has chosen us to be their technology provider for this unique deal for them, and we are confident of significant take-up when we roll out the partnership in 2022.”
Paul Speirs, Managing Director for Digital Consumer Information at Experian, commented:
“At Experian, we are continually innovating and using technology to modernise the financial services industry and satisfy the real-time data demands for providers and their customers. We believe every consumer deserves access to fair and affordable credit, and we are committed to helping our clients to provide greater financial opportunities for everyone.
The robust data assets of Experian, combined with the best-in-class technology and expertise of Duck Creek, will allow us to deliver new, scalable solutions for our general insurance partners while delivering better outcomes for consumers.
We already have a number of mutual customers who benefit from our collective expertise, and a collaboration such as this is a natural extension of the excellent relationship we have with the Duck Creek team.”