Will get a software suite with processing capabilities for the P&C insurance market
Global management consulting, technology services and outsourcing company Accenture has completed the acquisition of Duck Creek Technologies.
Duck Creek Technologies is a privately held company that specializes in software solutions for the property and casualty (P&C) insurance industry.
Duck Creek will become part of Accenture Software, a dedicated software business.
The acquisition complements Accenture Software’s existing P&C, component-based software platforms.
Accenture will get a suite of software with processing capabilities for the P&C insurance market – from product configuration and definition to policy management, including underwriting, billing, rating, ISO-based products support and claims management.
Accenture Software global director Colin Davies said the P&C software suite is designed to address insurers’ business requirements while helping reduce implementation time and risk.
Accenture’s Insurance practice global managing director John Del Santo said clients will also benefit from continual access to Accenture’s ongoing R&D investments into advanced technologies, and can rely on their commitment to provide standard upgradable software, backed by software maintenance services.
Financial services industry research firm Celent senior analyst Donald Light said the .NET framework shared by Accenture Software and Duck Creek Technologies will facilitate integration and easier maintenance for a strong combined set of claims, policy administration, rating and billing solutions."
Around 370 Duck Creek employees based in the US and the UK will join Accenture through the acquisition.