Partner Agent has Ability to Quote within Three Weeks
Duck Creek Technologies, a provider of software and services that enable the insurance industry to design, develop, and deliver insurance products faster than ever, today announced that Duck Creek client, SUA Insurance Company (SUA), has successfully delivered full policy lifecycle capability to their newest Partner Agent in 45 days using Duck Creek’s EXAMPLE Platform.
SUA originally selected Duck Creek in late 2005, with the goal of being able to bring every new partner or program live in less than 60 days. In March of this year, SUA announced its new Partner Agent agreement with Minden, Nevada based, Flying Eagle Insurance Services, Inc. (Flying Eagle) to market and underwrite commercial general liability through brokers in ten states to support the underserved construction segment, including the roofing trade.
With the EXAMPLE Platform, SUA and Duck Creek collaboratively built a base carrier layer for lines of business specific to niche markets for contracting, trucking and roofing programs. The development of each new SUA program begins with this base layer, minimizing the development time to bring the new programs to market.
For the Flying Eagle program, the flexibility of the EXAMPLE Platform enabled SUA to build out the initial workflow to deliver the quoting process to Flying Eagle inside of three weeks while the rest of the application was completed – including underwriting, policy issuance and administration, and program specific customizations. Providing the ability to quote quickly offered Flying Eagle and SUA speed to market, which would not have been possible with a manual rating workflow. The final application was designed to allow Flying Eagle to complete its initial quotes without re-entry and without extensive training.
Barry Cordeiro, SVP/CIO, SUA, commented, "Speed to Market is a principle part of our business model. When we signed on with Duck Creek, our goal was to be able to implement a new partner or new program in under sixty days. The EXAMPLE Platform and the flexible architecture of the system, has enabled us to accomplish that strategic objective."
David Lambin, President, Flying Eagle, said, "I have heard every system promise – from artificial intelligence, to expert systems, to end-to-end agency management systems. These systems all seemed to cost double the budget, take twice as long, and deliver half of what was expected. It was a pleasure to experience the Duck Creek difference. Duck Creek provided SUA with a solution that enabled us to be quoting with its rating engine in three weeks and fully implemented in our operation in under sixty days. The entire package and workflow is outstanding."
Doug Roller, President, Duck Creek, commented, “It’s always exciting to watch customers leverage our software and services for higher profit and productivity. SUA has been a great partner, and their work to achieve speed-to-market has benefited not only their organization but Duck Creek as well. Together, we will continue to work toward our vision of ‘product in a day.’”