Pacific Specialty Insurance Selects Accenture Duck Creek Software to Support Strategic Growth Initiative
Pacific Specialty Insurance Company has chosen Accenture (NYSE:ACN) to deliver its Accenture Duck Creek Suite through a Software as a Service (SaaS) model, replacing its legacy-based property and casualty insurance system. The new system, supported by the Accenture Cloud Platform, using Microsoft Azure, is designed to help Pacific Specialty enhance underwriting effectiveness, reduce loss costs, improve customer retention and drive profitable growth.
The Accenture Duck Creek Suite will support product development, improve policy, billing and claims administration and provide the personal lines insurer with the automation and functionality to streamline operations, quickly adapt to market changes and better serve agents and customers.
“We are making significant investments in our technology infrastructure and chose Accenture Duck Creek because it is an industry-leading solution that will bring significant value to our strategic objectives,” said Jim P. Lee, chief information officer of Pacific Specialty Insurance Company. “Mobilizing the Duck Creek platform in a cloud-based environment will afford us the opportunity to leverage the end-to-end capabilities of Accenture Duck Creek, reducing our infrastructure operating expenses while enabling us to focus on providing competitive products and services to meet the needs of our customers and stakeholders.”
“Pacific Specialty’s decision to transition their core systems using a SaaS model reflects their commitment to innovate in order to meet market demand,” said Michael A. Jackowski, global managing director of Accenture Duck Creek. “This is a significant initiative at Pacific Specialty and we’re thrilled to support their efforts by delivering a solution that improves efficiencies, reduces costs and provides a better experience for their customers and employees.”
“Additional benefits delivered through the SaaS model include lower upfront costs, timely and predictable upgrades and contracted service levels,” stated Patti Griffin, global product lead of Accenture Duck Creek. “Implementation of a SaaS model on the Accenture Cloud Platform enables carriers to focus on running their insurance business and delivering exceptional customer service rather than being concerned with the infrastructure necessary to host robust software platforms such as the Accenture Duck Creek Suite.”
The Accenture Duck Creek Suite includes policy, rating, billing and claims solutions. Each component can be implemented independently or combined for an integrated approach to manage all aspects of the P&C insurance lifecycle. Value can be attained via on-premise software or as Software as a Service.
The Accenture Cloud Platform supports multi-platform environments with self-service provisioning for any application. Its central dashboard controls cloud services and enables management, and provides the enterprise-grade governance, reliability, security and operations that enterprise clients expect.
About Pacific Specialty
Since 1989, Pacific Specialty Insurance Company, flagship of the McGraw Group of Affiliated Companies, has been recognized as an industry leader in motorcycle, personal watercraft and residential property insurance. For the past 16 years, Pacific Specialty has had an “A” rating with AM Best, proving Pacific Specialty has an excellent financial standing, reflecting a solid balance sheet, which assures that the necessary financial reserves are in place. AM Best is the world leader in assessing the financial strength of insurance companies. Additionally, for the fourth consecutive year, Pacific Specialty is listed as a Ward Group ‘Top 50 Performer’. There are approximately 3,400 property and casualty insurance carriers domiciled in the United States and this honor is reserved for a select group of insurance companies that have passed their stringent financial tests for the preceding five-year period. With a full suite of powersports, property and liability insurance products, Pacific Specialty is the smart choice for independent insurance agents and brokers.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 319,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
Accenture Duck Creek is a software suite offering comprehensive, full-featured property & casualty insurance software and SaaS solutions. Its configurable solutions are designed to work as a full end-to-end suite or as individual standalone components that adapt quickly and seamlessly to handle the unique needs of insurers of all sizes. Duck Creek software enables carriers to make better decisions in a real-time environment, streamline operations and improve their level of customer service. For more information, visit www.accenture.com/duckcreek.
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