Duck Creek Technologies, a leading provider of intelligent solutions for property and casualty (P&C) and general insurance, has launched Duck Creek Payments in the North American market.
The introduction of Duck Creek Payments aims to revolutionise the insurance industry by offering a cutting-edge, cloud-based Software as a Service (SaaS) solution.
It provides insurers with unparalleled access to global payment providers and technologies for premium collections and claims disbursements.
Recognising the growing importance of payments in meeting customer expectations, Duck Creek Payments addresses insurers’ unique needs. It simplifies payment processes, enhances cost efficiency, accelerates time-to-market, improves customer experiences, and ensures payment compliance.
Duck Creek Payments serves as a singular entry point to the global payments ecosystem, enabling insurers to effortlessly connect with their preferred payment providers. This eliminates the challenges associated with integrating payment solutions not originally designed for the insurance industry.
Initially developed for the European insurance market, the offering has already demonstrated its effectiveness in solving payment complexities for European clients. By complementing Duck Creek’s suite of core system solutions, insurers can seamlessly integrate their preferred payment technologies on a regional or global scale.
Jess Keeney, Chief Product & Technology Officer, Duck Creek Technologies, remarked, “Duck Creek Payments is the key to unlocking a streamlined, future-ready payment experience for insurers, solidifying its status as a game-changer in our industry. The choice and flexibility this innovative solution provides our customers will offer them significant advantages and position them for success in the evolving digital payments landscape.”
Karlyn Carnahan, head of Celent’s North American insurance practice, added, “Revolutionising payment practices in the insurance sector isn’t merely an upgrade; it’s a fundamental shift towards a future where efficiency and customer satisfaction reign supreme. Modernising payment processes is the linchpin for insurers to stay agile, reduce operational complexities, and ultimately, deliver a frictionless customer-centric experience. In an era defined by technological advancements, embracing these changes isn’t just an option; it’s a strategic necessity for the insurance industry to thrive and meet the evolving needs of both insurers and policyholders alike.”
Copyright © 2024 InsurTech Analyst
