KUALA LUMPUR, Nov 17 (Bernama) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has announced a breakthrough initiative in collaboration with Microsoft.
This collaboration is poised to empower insurers to reimagine their businesses by facilitating smoother implementation processes and faster speed to market through the aid of generative artificial intelligence (AI), a transformative technology that enables the creation of innovative applications and low-code solutions.
Duck Creek Technologies Chief Executive Officer, Mike Jackowski in a statement said the company’s objective is to empower insurers to innovate products faster and assist employees with AI tools.
Meanwhile, Microsoft Corporate Vice President for Worldwide Financial Services, Bill Borden said innovative insurers want to move quickly to use the power of generative AI to drive demonstrable business value.
“We are excited to deepen our collaboration with Duck Creek to deliver new generative AI-powered capabilities to help our joint insurance customers drive marked improvements in employee productivity, reinvent customer engagement, and bend the curve on innovation, both securely and responsibly,” he said.
Duck Creek's comprehensive platform is built on Microsoft Azure, the preferred technology for harnessing the power of Azure OpenAI Service, as large language models (LLMs) continue to redefine and shape the technology landscape.
This represents a significant leap forward in the insurance sector, fostering innovation and efficiency that promises to influence how insurers conduct their business and engage with customers.
By merging Duck Creek's expertise in insurance solutions with the cutting-edge capabilities of Microsoft, this collaboration aims to create a brighter and more agile future for the entire insurance industry.
Duck Creek is harnessing this emerging technology to curate innovative solutions for insurers, helping them embrace the future of technology with copilot solutions which empowers insurers to make informed decisions and respond to changing market conditions swiftly and effectively.
In addition it enhanced productivity tools that improve efficiency and productivity throughout the insurance ecosystem, designed to benefit consumers, agents, underwriters, and claim adjusters; and the next era of low-code configurator tools that simplify the development and adoption of insurance products, enabling insurers to expedite their time-to-market for both new and ongoing configurations.
-- BERNAMA
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