Property and casualty (P&C) and general insurance technology provider Duck Creek Technologies has developed a new SaaS solution for HDFC ERGO General Insurance.
The new SaaS offering is designed to provide policy, rating and insurance billing services and marks Duck Creek’s first such deployment in India, which was completed within nine months.
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It will serve a wide range of insurance coverages offered by HDFC ERGO, including retail, commercial, agricultural, specialty and health.
The new platform, which also encompasses claims management, went live with HDFC ERGO’s commercial fire product as the initial offering.
This will soon be followed by the rollout of health, retail motor, marine and liability coverages, with the rest of the insurer’s products set to launch subsequently.
Duck Creek’s SaaS solution aims to enable HDFC ERGO to provide more “affordable, accessible and personalised” insurance options.
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By GlobalDataIt targets a diverse customer base and distribution channels, as part of the insurer’s goal to deliver hyper-personalised and digital-first solutions.
The collaboration is expected to also enhance customer experiences by offering quicker quotes and claims processing, alongside faster market entry, agility, improved operational efficiencies and heightened data security.
HDFC ERGO General Insurance director and chief business officer Parthanil Ghosh said: “As a leading non-life insurer of India, who is also committed to offering superior and hyper-personalised solutions to our customers with new-age digital solutions, we understand the importance of adapting to an upgraded technology platform.
“The robust power of this new platform enables us faster go-to-market capabilities, customised offerings, improved efficiencies and enhanced data security.”
Duck Creek chief operating officer Chris McCloskey said: “Thanks to the features and capabilities of our highly configurable and intuitive applications, HDFC ERGO will have the agility and responsiveness to design and launch new and more personalised coverages and customer experiences in weeks, not months.”
In November 2023, Duck Creek partnered with Microsoft in to offer generative AI capabilities to P&C insurers.
