Duck Creek Technologies launches Marketplace to revolutionise insurance payments

Duck Creek Technologies, a global provider of intelligent solutions for property and casualty (P&C) and general insurance, has launched a comprehensive ecosystem tailored for the global insurance industry.

Duck Creek Technologies, a global provider of intelligent solutions for property and casualty (P&C) and general insurance, has launched a comprehensive ecosystem tailored for the global insurance industry.

The launch of the Payments Marketplace aims to address a critical need in the insurance industry—streamlining and simplifying payment processes for carriers.

Traditional payment integrations have been known to take anywhere from nine to 18 months, leading to inefficiencies and delays.

Duck Creek’s new offering significantly reduces integration timelines to as little as one to two weeks, revolutionising the way payments are managed in the sector.

The solution offers an integrated, end-to-end payment management system for insurance carriers.

Connecting carriers to a trusted network of global payment providers, allowing for both collections and payouts, regardless of the carrier’s existing IT infrastructure, the offering leverages the Duck Creek Payments Orchestrator, the platform accelerates payment integration, making it possible for carriers to go live in a fraction of the time compared to traditional methods.

The Payments Marketplace is powered by strategic partnerships, including one with Paymentus, a leading provider of digital payment solutions.

This partnership brings billions in payment volume to the platform, enhancing its value for insurers. The integration process is streamlined, enabling carriers to benefit from rapid connectivity without the need for years of orchestration readiness.

Additionally, Duck Creek ensures continuous updates and robust redundancy, ensuring a reliable, secure service for both carriers and their customers.

It is designed with security and customer experience at its core. The platform adheres to rigorous security standards and is fully compatible with Duck Creek’s SaaS core systems. The system also prioritises best practices and certification, ensuring that all partners are thoroughly vetted.

“Duck Creek continues to innovate with the launch of our Payments Marketplace, which represents a major leap forward in insurance technology and delivers security-focused, seamless payment processing for carriers and their customers,” said Duck Creek Technologies Chief Payments Officer Allan Lacoste. “Through strategic partnerships with industry leaders like Paymentus, we’re building a robust ecosystem that empowers carriers with both payment flexibility and reliability.”

“Through our partnership with Duck Creek, we can deliver our best-in-class electronic billing and payment solutions to a larger, more global customer base,” said Paymentus Holdings, Inc. Chief Commercial Officer Jerry Portocalis. “Together, we’ll realise our common goal to simplify payments for carriers and help them deliver the best customer experiences for their customers.”

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