Duck Creek Technologies

Duck Creek Technologies is a developer of industry-specific software that lets insurance carriers deploy and manage their product and service offerings. The company offers standalone P&C solutions or can combine them as a full suite via Duck Creek onDemand, the provider's SaaS solution. As of 2019, the suite includes a comprehensive reinsurance management functionality.

Duck Creek offers a wide range of products, including policy management software, claims management software, billing software, industry insights, reinsurance management and more. Duck Creek OnDemand is the end-to-end SaaS complete solution, providing all the above services.

In 2018, Duck Creek Technology announced 55 new clients, 28 new license sales and 28 successful upgrades, many attributable to Duck Creek OnDemand (such as West Bend Mutual Insurance upgrading to the full Duck Creek Suite OnDemand, and PURE selecting Duck Creek Billing OnDemand). Currently, its messaging Gateway and associated solutions are being used by around 100 organisations globally, including Lloyd’s Managing Agents, international carriers, and central bureau providers.

In addition to this, in 2018 the company expanded their Content Exchange to over 220 integration and accelerator packages, available via their online app marketplace, and released dozens of subscription-based, Anywhere Managed Integrations to leading third-party services and insurtech firms.

In regards to partnerships, at the start of July 2018, Duck Creek announced a strategic partnership with Bond-Pro, a provider of surety and specialty insurance software products and services, to bring high-end digital management solutions to respective businesses. The partnership has contributed to Duck Creek’s growing Partner Ecosystem, which has risen 150% of the total number of partners in the program at the close of FY 2017. The following year, too, they collaborated with Web Connectivity Limited (WCL) to give customers greater access to tools related to London Market insurance operations with the addition of a London Market messaging function. Duck Creek customers can also take advantage of WCL’s integrated products, including rapid deployment of ACORD and London Market messaging.

In 2019, Duck Creek expanded its partnership with home telematics provider, Roost, to offer an Anywhere Enabled Integration, available in Duck Creek’s Content Exchange, that enables Roost’s Smart Leak sensor to automatically send a message and create an incident within Duck Creek Claims upon detection of a leak.

Later in the same year Duck Creek once again extended its Partner Ecosystem program through its new collaboration with Terrene Labs, a data science company specialising in creating comprehensive risk profiles to better the underwriting process.

In January 2020, Duck Creek announced Gradient AI, which designs AI insurance solutions, was to join their Partner Ecosystem.

Munich Re Specialty Insurance partnered with Duck Creek Technologies in May 2020 to develop a digital, cloud-based platform for service and product innovation. MRSI will leverage Duck Creek's SaaS OnDemand platform.

Duck Creek Technologies announced it had raised $230m in June 2020. The company plans to enhance its SaaS services and scale product development and international expansion.

The following month, Duck Creek filed for a $200m IPO.

Duck Creek Technologies partnered with insurtech Akur8 in February 2021 to help insurance carriers leverage AI for pricing in a transparent way and avoid the dislocation issues with black box models.

In July 2021 Duck Creek Technologies announced a partnership with disaster-information company RedZone, granting DCK users access to new wildfire risk analysis services.

In January 2022 it was revealed insurtech Bifröst was partnering with Duck Creek Technologies to enable Adiona to offer telematics-based insurance policies with premiums that are based on individual driving behaviour.

In May 2022 Akur8 partnered with Duck Creek to offer P&C insurers an integrated platform that manages the insurers' price-making process from data to production. Five months later Claims replacement solutions provider SBS has become part of Duck Creek's partner ecosystem. 

During early January 2023 the company announced it was intending to take over Imburse, a Swiss-based payments platform. Imburse will continue to serve its current client base while accelerating plans for new clients in Europe, North American and Asia-Pacific regions. Duck Creek became interested in the company because its product offering was ideally suited for the global insurance industry.

That month it was also announced  Vista Equity Partners would buy Duck Creek in a deal worth $2.6bn. The deal was completed in April 2023. 

In January 2023 LTIMindtree Partnered with Duck Creek and Microsoft to Build a Cloud Migration Solution for Insurers. The solution brings together LTIMindtree’s migration tools, and accelerators, Duck Creek’s SaaS platform ‘Duck Creek OnDemand’, and Microsoft’s Azure cloud platform. It will help insurers gain competitive advantage by delivering superior customer experience, innovation, cost-efficiency, and revenue growth.