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.

Six UK insuretech start-ups last month embarked on a Silicon Valley trade mission.