Boston-based insurtech company Duck Creek Technologies has partnered with Australia and New Zealand-based general insurer Suncorp to modernise the latter’s core insurance platforms.
The multi-year agreement is set to deliver cloud-native, low-code core insurance delivery solutions, aligning with Suncorp’s digital insurer policy transformation programme.
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Duck Creek’s SaaS solutions will replace multiple on-premises legacy systems and are expected to reduce technological complexity at Suncorp.
Suncorp aims to develop customer-centric, data-driven and brand-specific propositions to deliver value to the market swiftly and efficiently across its personal and commercial brands in both Australia and New Zealand.
The modular architecture of Duck Creek’s OnDemand platform is expected to expedite Suncorp’s innovation timelines, reducing the time-to-market for amendments to products from weeks to days and new products from months to weeks.
It will also help Suncorp increase automation, eliminate manual processes and bolster data-driven decision-making.
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By GlobalDataSuncorp consumer insurance chief executive Lisa Harrison said: “Through a rigorous RFP [request for proposal] process, we selected Duck Creek as it has a proven track record both globally and locally.
“This is a multi-year programme designed to roll out new capabilities in a safe, smart and efficient way. We have assigned dedicated business and technical leadership to work alongside Duck Creek and our integration partner, with strong governance structures and oversight.”
Duck Creek APAC managing director Christian Erickson said: “Suncorp is pushing the boundaries of insurance innovation. They appreciate that they are not in the business of just insuring assets but of delivering confidence and better experiences and outcomes for their policyholders.
“Our policyholder-centric solutions are designed to equip Suncorp to overcome any technological obstacles and refocus resources toward delivering new innovative customer propositions and experiences.”
Duck Creek Technologies developed a new SaaS solution for HDFC ERGO General Insurance in July 2024. It will provide policy, rating and insurance billing services, marking Duck Creek’s first deployment in India.
