Duck Creek Announces Release of Product StudioBy Duck Creek Technologies Inc., PRNE
Sunday, May 22, 2011
BOLIVAR, Missouri, May 23, 2011 -
- Product lifecycle management tool dramatically reduces the time to
develop, maintain, and modify any line of business.
Duck Creek Technologies, Inc., a provider of innovative software and
services for the insurance industry, continues to expand its portfolio of
product definition tools with the release of EXAMPLE Product Studio(TM)
(Product Studio), the core of a product development suite designed to improve
efficiencies by giving insurance professionals control of all aspects of the
insurance product development and maintenance process, freeing technical
resources to focus on technical tasks.
Product Studio enables insurance product managers to model, manage,
modify, and monitor their products in a collaborative manner. Working in
tandem with Duck Creek's powerful product definition tool, EXAMPLE Author(R),
Product Studio will more radically reduce the time, cost, and effort it takes
to respond to market opportunities and changes. With product management,
definition and configuration fueling the Duck Creek EXAMPLE Server(R)
operating system, carriers can now have a fully operational, self
documenting, product centric policy administration solution.
While results will vary by customer and project, Duck Creek's Services
team has been piloting aspects of Product Studio over the past year, and
examples from its use during customer implementations were extremely
positive. Real world examples at early adopters have shown productivity
improvements that range from 40% to 80% for new insurance product
introductions and updates. Immediate return on investment can be measured in
shorter implementations with fewer resources, with long term savings realized
from reduced maintenance costs. Additionally, companies can generate
additional revenue from the faster introduction of new products.
"Duck Creek continues to embrace the insurers' need to improve product
innovation and time to market. With the deployment of Product Studio, the
product configurator component, Duck Creek has brought the foundation of
product development full circle," stated Karen Furtado, Partner, SMA. "The
combination of product configuration with an experienced, proven rating
component, commercial ISO templates, sales automation, and policy
administration system positions Duck Creek as a leading solution provider in
any modern policy administration selection discussion."
"This is a transformative moment in product development," commented Steve
Hall, Duck Creek's President and CEO. "Giving the business user control of
the product lifecycle will enable insurance companies - from start-ups to
Tier 1 - to respond to market changes faster, better serving their customers
while also controlling costs. Duck Creek continues to set the standard for
rapid insurance product development."
About Duck Creek Technologies(R)
Duck Creek Technologies, Inc. is a provider of innovative software and
services to the insurance industry, providing next-generation policy
administration, product configuration and definition, billing, and rating for
the Property & Casualty and Healthcare insurance markets. Duck Creek(R) is
dedicated to enabling customers to develop insurance products and to sell and
service those products in their chosen markets with unprecedented speed to
market, flexibility, reach, and quality. Founded in 2000, Duck Creek is
headquartered in Bolivar, Missouri, and has multiple offices within the
United States and its subsidiary, Duck Creek Technologies Europe Ltd, has an
office in the United Kingdom.
For more information, visit www.duckcreektech.com or call
Contact: Nancy Hines +1-803-935-9331 email@example.com
(c) 2011 Duck Creek Technologies, Inc. All Rights Reserved.
Duck Creek Technologies, Duck Creek, Duck Creek Rating, Duck Creek Policy
Administration, Duck Creek Templates, Duck Creek Billing, and EXAMPLE
Platform are trademarks or registered trademarks of Duck Creek Technologies,
All other trademarks are the property of their respective owners.
Tags: Bolivar, Duck Creek Technologies Inc., May 23, Missouri