ICBC turns to Duck Creek for new ratings solution

Duck Creek Technologies Inc. (Duck Creek), a provider of software and services for the insurance industry, has signed an agreement with B.C.’s public auto insurer, the Insurance Corporation of British Columbia (ICBC), to license Duck Creek Rating.Duck Creek Rating is a solution designed to modernize a company’s rating function, whether by means of replacing a legacy rating function or providing a rating solution for a new business line. ICBC sought the new rating technology to help improve its flexibility and speed to market for new products and rating changes to respond more quickly to customer needs.”There are many vendors in the insurance technology marketplace,” stated Kellee Irwin, ICBC’s vice president of underwriting. “We wanted to make sure that we chose the right business partner for ICBC and our customers, considering costs, technology, and the culture of the company we would be working with.”We felt that Duck Creek was a great fit in all areas.”