Duck Creek strikes deal with cloud-based tech firm that will revamp reinsurance processing
Duck Creek Technologies has teamed up with a cloud-based specialist tech firm to help reinsurance processing, as first reported on sister title Insurance Times.
The partnership with DataCede will further advance Duck Creek’s market share in the fast-growing reinsurance tech processing market.
DataCede have a cloud-based solution called CedeRight which automates processing and administration of reinsurance activities for P&C insurers worldwide.
Sales chief Phil Marsh said reinsurance processing had been ‘mired in inflexible legacly applications’, but his firm had the solution to change things.
He said: “CedeRight changes all of that, automating a full range of reinsurance processes and placing the latest analysis and reporting capabilities at companies’ fingertips.
“And all of this on a software as a service delivery platform, reducing the cost and business disruption associated with a traditional on-premises implementation. Small and mid-sized insurers can quickly move to managing their reinsurance business, rather than focusing on implementation.”
The deal comes at a time when cloud-based technology continues to transform insurance technology, meaning insurers and brokers can have the technology updated at any moment and hold vast amounts of data in the clould.