The offering ties together Pitney Bowes Business Insight's Spectrum data quality platform and location intelligence solutions with the Duck Creek policy administration product. This combination provides carriers with customer information validation, data enrichment, and geo-spatial analysis in a single API called directly from the Duck Creek user interface and entirely transparent to the business user.

"Two key areas of focus for Duck Creek are: helping insurance carriers get products to market more quickly and ultimately driving profitable premium growth," says Kerrick Tweedy, co-founder, product manager of Duck Creek. "Integrating with Pitney Bowes Business Insight allows us to address both of these key initiatives. By making the integration available out-of-the-box, we help carriers get products to market more quickly. By bringing in the wealth of data provided by the Spectrum and Envinsa solutions, we give brokers and underwriters the information they need to do their jobs more effectively, therefore driving more profitable premium growth."

"Insurance carriers want a policy administration system that is designed to automate key policy functions, define workflows and enable straight-through-processing of core business processes," says Bill Sinn, strategic industry and marketing director--insurance, Pitney Bowes Business Insight. "Our partnership with Duck Creek signifies our commitment to providing insurance carriers with the most advanced, intuitive and customer-friendly solutions to enhance their business operations."

When an agent or underwriter enters data into the Duck Creek policy administration product it makes a Web services call to Pitney Bowes Business Insight Spectrum platform. Spectrum returns a comprehensive set of enriched data, including address verification, proximity to risk and emergency services, and identification of the exact location of the insured assets.

This data is leveraged at multiple points throughout the underwriting process. For instance, if the policy is returned as an underwriting exception, Pitney Bowes Business Insight's Envinsa location intelligence solution enables the carrier to visually compare the proximity of the policy to the existing book of business to determine risk accumulations and threats of over-exposure or aggregated risks within a catastrophe area.

In addition, the joint solution leverages the power of Pitney Bowes Business Insight's EngageOne solution for policyholder communications. Specifically highlighted is the ability for underwriters to conduct in-line editing of policies and other communications to reflect specific coverage parameters not available in standard forms.

(To learn how one Duck Creek customer is using the vendor's policy administration system, please click on this Tech Decisions article.)

Special Reports /

Pitney Bowes Business Insight, Duck Creek Partner on Policy Administration Solution

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