NU Online News Service, May 18, 2:42 p.m. EDT--Duck Creek Technologies Inc.,a provider of rating and policy administration software for the insurance industry,announced today the upcoming release of a 50-state Commercial Lines rating, underwriting and policy processing solution.
The Bolivar, Mo.-based firm said EXAMPLE Commercial Templates now are scheduled for limited release by the end of summer 2005, with wide availability by the end of the year.
Commercial Lines Templates, Duck Creek said, are off-the-shelf products that support ISO and NCCI-based rating, underwriting, policy processing, statistical coding and forms generation.
Duck Creek said it is currently working with several "early adopter" customers to test and complete the product for general liability, workers' compensation, property, auto, crime and inland marine lines.
Duck Creek's Commercial Lines Templates can be customized through EXAMPLE Author, a product definition environment that enables the carrier to adjust the ISO and NCCI standard rates, rules and workflow, resulting in a customized, carrier-specific product, the company said.
Customers can utilize the templates in a "black box" rating environment or as part of a full policy processing system.
Duck Creek Technologies said it enables insurance carriers and other participants in the insurance distribution process to define and develop rating, underwriting and policy processing services for any line of business and to deploy those services to the Web and to all other points on the product value chain. The company's EXAMPLE Platform supports all aspects of product definition, including data capture, rating, rules, interview screens, documentation, workflow and transactions.
Further information is available at http://www.duckcreektech.com.
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