CIS Insurance Services has partnered with Duck Creek Technologies, an intelligent solutions provider looking to define the future of property and casualty (P&C) insurance, to offer performance testing and stabilisation capabilities.
Duck Creek Claims is a comprehensive claims management solution that aims to help insurers manage the entire claims lifecycle.
The partnership will allow performance testing and stabilisation products to be offered to Duck Creek’s SaaS and on-premises customers.
Among the products are CIS Performance Testing Platform and Trace Tools.
Val Tarakanov, CIS Insurance Services’ managing partner, said, “We’re excited to work even closer with Duck Creek Technologies to offer leading performance testing and stabilization capabilities to Duck Creek customers.
“CIS’ experience in performance and stabilisation areas, as well as cloud and on-premises infrastructure management will complement with DCOD services to shorten implementation timelines and optimize post go-live success.”
Sean Murphy, SVP of customer and partner enablement, Duck Creek Technologies, added, “We welcome CIS Insurance Services to our partner ecosystem. Their ability to design, configure and performance test new and existing Duck Creek Technologies implementations will be a great tool for insurance carriers and system integrators.”
Earlier this year, Duck Creek announced it was to be acquired by Vista Equity Partners.
Vista Equity Partners is leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. The firm will acquire Duck Creek Technologies for $19.00 per share, in an all-cash transaction valued at approximately $2.6bn.
Under the terms of the agreement, Duck Creek shareholders will receive $19.00 per share in cash, which represents a 46% premium to Duck Creek’s closing stock price on January 6, 2023, the last full trading day prior to the transaction announcement, and a premium of approximately 64% over the volume weighted average price of Duck Creek’s stock for the 30 days ending January 6, 2023.
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