Accenture Duck Creek Templates Updated to Help Insurers More Easily Develop Products with New ISO Cyber Liability Coverage Options
2015 marks ten year anniversary of Accenture and ISO alliance that helps property and casualty insurers bring new products to market
NEW YORK; April 23, 2015 – Accenture (NYSE: ACN) announced new cyber liability coverage options from ISO, a Verisk Analytics company, are now available through Accenture Duck Creek Templates. The newly integrated cyber liability endorsements will allow insurers to more easily create and sell cyber security coverage to customers.
Accenture Duck Creek and ISO have a decade-long alliance that is committed to providing clients with up-to-date templates that enable them to create and deliver products to market more quickly. As cyber security continues to be a top priority for businesses, new endorsements will be automatically provided to insurers using the Accenture Duck Creek Template subscription service, enabling them to stay current with ISO definitions.
Today, more than 35 insurers are processing ISO-related business using Duck Creek Templates, which has expanded to support 11 lines of business in all jurisdictions in the United States with hundreds of programs and variations implemented through the extension and override features of the Duck Creek software. Other benefits include base ISO’s advisory loss costs, rules and forms with the ability to override, extend and adjust base ISO content.
“Using the Accenture Duck Creek service, we continue to deliver our customized offering to the marketplace. Being able to use ISO-based content, along with our unique coverage extensions is key to our commercial business,” stated Tracey Berg, CIO, West Bend Mutual Insurance.
“As a result of our ten years of working with ISO, we have been able to ensure that the newest rules and regulations are included in Duck Creek Templates so that our clients can continue to reduce costs, lower risks and maintain agility in product development,” said Patti Griffin, global product lead, Accenture Duck Creek. “By staying current on cyber liability endorsements and any other new liability coverages, we can assist our clients in their efforts to remain compliant and to more easily create new offerings.”
“We value our long-standing and successful relationship with Accenture Duck Creek,” said Chris Perini, chief marketing officer, Verisk Analytics. “Our Verisk Strategic Alliance program provides an efficient way for our mutual clients to receive and implement ISO’s industry-leading data and analytics services.”
Accenture Duck Creek Templates provide an out-of-the-box set of content for ISO, NCCI and bureau products as well as an on-going subscription service for circular maintenance. It is part of the Accenture Duck Creek Suite, which includes policy, rating, billing and claims software components that can be implemented independently or combined for an integrated approach to manage all aspects of the property and casualty insurance lifecycle.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 323,000 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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