Island Insurance Companies Selects Duck Creek Technologies’ Commercial Lines Rating Solution - Insurance News | InsuranceNewsNet

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December 18, 2007
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Island Insurance Companies Selects Duck Creek Technologies’ Commercial Lines Rating Solution

 

 

Speed to market and SOA key in Island’s decision to implement Duck Creek for commercial lines rating

Bolivar, MO - December 18th, 2007 -- Duck Creek Technologies, Inc., a provider of rating and policy administration solutions for the insurance industry, today announced that Honolulu based, Island Insurance Companies has chosen Duck Creek’s Commercial Lines Rating Solution.  The Duck Creek solution is built on the EXAMPLE Platform® and will be implemented as a best-of-breed rating solution.  The selection of Duck Creek’s EXAMPLE Platform is an integral component to Island Insurance’s commitment to a Service Oriented Architecture (SOA).

With implementation currently underway the Duck Creek solution will be used to rate Island’s commercial product lines, including workman’s compensation and general liability.  A key factor in the company’s selection of Duck Creek was a combination of the system’s SOA architecture and its ability to fit well with the insurer’s best-of-breed strategy. 

Jeff Fabry, CIO with Island Insurance, commented, “After a six month analysis of the market we selected Duck Creek Technologies’ EXAMPLE Platform because it offered a best-of-breed rating solution and is a perfect fit for our SOA approach.  By leveraging Duck Creek’s ISO templates we anticipate gaining a competitive advantage by increasing our speed to market.” 

Fabry continued, “Combining the system’s technical advantages with Duck Creek’s in-house IT services team, rich in insurance industry knowledge, we realized that this was the best solution to support our business strategy.”

Duck Creek’s Wendy Corman, Senior Vice President of Business Development, noted, “We are very pleased that Island Insurance selected our Commercial Lines Rating Solution as part of its growth strategy.  We are looking forward to continuing to work with the Island team throughout the implementation to help them gain maximum value from the Duck Creek solution.”

About Island Insurance Company

Island Insurance Company, Ltd. is Hawaii's largest locally owned and managed insurance carrier, offering a full range of property and casualty protection. Founded in downtown Honolulu in 1939, Island Insurance has been serving Hawaii’s families and businesses for more than 65 years. Today it employs over 185 people and has an "A" (Excellent) rating from A.M. Best & Company and an "A" (Strong) rating from Fitch Ratings.  For more information, visit the company’s website at www.islandinsurance.com

About Duck Creek Technologies

Duck Creek Technologies is a software and services company that is changing the rules of the insurance business by accelerating the ability to achieve the industry vision of “Product in a Day”.  The EXAMPLE Platform enables insurance carriers to rapidly define, develop, deploy, and manage their insurance products and services—for any line of business.  Duck Creek’s customers use the Platform’s flexible Service-Oriented Architecture for product definition, rating and underwriting, submission processing, policy management, and legacy migration.  Founded in 2000, it is headquartered in Bolivar, Missouri, and has offices in Farmington, Connecticut, and Columbia, South Carolina.  For more information, visit its website www.duckcreektech.com.

Contact:
Jaye Tower
Marketing Specialist
860-676-2328 ext 4240
[email protected]

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