Duck Creek Reinsurance
Centralize, streamline and automate all your reinsurance processes.
Reinsurance
Reinsurance Management Made Smart
Duck Creek Reinsurance tracks all information related to your reinsurance contracts (treaties and facultative policies, claims, incidents, accounting data, technical data, auxiliary data, financial data, and more). Manage all your contracts from underwriting to endorsements and renewals in a flexible solution using multiple currencies and GAAP requirements.
Benefits
Maximize Recoverables and Reduce Claims Leakage
Identify all claims meant to be covered by reinsurance by accurately calculating recoveries, and rapidly creating reinsurance bills. Ensure all reinsurance ceded or assumed achieves its intended goals of helping reinsurers and brokers manage risks and making available the capital needed to support those risks.
Improve Process for Contract Certainty
Digitally transforming reinsurance administration creates opportunities to strategically leverage data in ways that were previously extremely difficult. With the ability to better understand reinsurance transactions and outcomes, finance and risk management teams can leverage data to make critical decisions regarding risk appetite and support reinsurance contract negotiations.
Increase Reinsurance Operational Efficiencies
Labor-intensive tools such as spreadsheets and unsophisticated databases, as well as legacy systems built on older platforms, are ill-equipped to manage today’s increasingly complex reinsurance treaties. Through automation, standardization, and data transparency, our platform helps you create a more efficient and productive reinsurance administration program.
Key Features
- Centralize all your reinsurance policies in one place within the platform for greater visibility and security in your data processing
- Manage all types of contracts, including treaties, facultative reinsurance, proportional and non-proportional contracts, excess loss, stop loss, quota share, and more
- Support both P&C and general insurance, as well as life and health insurance
- Easily navigate through contracts structure on a schematic view for quick information access (from program to account status through the layers)
- Handle your contract renewals efficiently and save considerable time by copying an existing contract with its contractual terms from the previous year
- Easily view and update the status of your claims at any time
- Centralize all of your claims with dates and events in a single platform
- Attach all dates and times for multiple claims to a single event
- Automatically determine and update the optimal period for an event’s retroceded amounts through an hours clause
- Manage and link events and claims to multiple ceding companies
- Automate the production of your technical accounts for your partners—ceding companies, reinsurers, and brokers—at the frequency you want.
- Robust and accurate calculation engine for premiums and claims, including expenses, commissions, rates, reinstatement premiums and more reinsurance terms
- View a cumulative summary of all your reinsurance contracts
- Support all account types, in acceptance and retrocession, including estimated accounts, final accounts, provisional premium accounts, and cash call accounts.
Testimonials
Useful Resources
Press Release
Duck Creek Technologies Strengthens Global Sales Leadership with Strategic Appointments in…
New executive hires reinforce the company’s commitment to elevating the customer experie…
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Blog Post
Duck Creek Named a Leader in the Gartner…
Insurance companies are modernizing systems and adopting advanced technologies to overcome…
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Blog Post
Unifying Underwriting and Loss Control to Increase Profitability
In today’s competitive insurance landscape, underwriting profitability hinges on mak…
Read MoreFrequently Asked Questions
Duck Creek is committed to providing the information you need to solve your insurtech needs. Find answers to common questions below or, if this information isn’t enough, fill out the form at the bottom of the page. Our team will respond with the answers you need.
Can I purchase Duck Creek products as a stand-alone, best-of-breed product, or only as part of a suite of products?
Duck Creek offers you the flexibility to purchase our products either in a stand-alone implementation, as part of an à la carte suite of products, or as a comprehensive suite. Our products are designed to work together or independently, providing you with the choice and flexibility you need.
What are the benefits of buying Duck Creek products as a suite?
Integration: The products are designed to work together seamlessly, providing a more streamlined and efficient experience.
Cost savings: Purchasing products as a suite may offer cost savings compared to purchasing them individually.
Consistency: Using a suite of products from the same company ensures a consistent user experience and reduces the learning curve for new users.
Are Duck Creek products available on the cloud?
Yes – Duck Creek’s products are deployed on Microsoft’s Azure cloud. Our evergreen SaaS (Software as a Service) platform is designed to lower the total cost of ownership for your solution without the need for large IT (Information Technology) teams and expensive upgrades. And with Active Delivery, available for Claims and Policy today and rolling out to all Duck Creek products, when a new version of a Duck Creek product comes out, “feature flags” allow you to accept the update on your terms, and start using the new version when you choose without deploying an IT team to manually update the system.
See It In Action Today
Whether you’re launching a greenfield initiative, changing providers, or looking to make a digital transformation, our multi-faceted team of insurance and technology experts can help get you there.
