Cerity Launches Workers Comp Business Rapidly with Duck Creek’s SaaS Solution and Commercial Lines Templates
Firm Launches Digital Insurance Platform in Under 12 Months with Duck Creek OnDemand
Boston, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Duck Creek Technologies announced today that Cerity, a digital-first company offering workers’ compensation quotes and policies, has launched the initial rollout of their brand-new business 12 months after starting from scratch. Offering direct-to-consumer online distribution backed by Duck Creek Policy and Duck Creek Billing, both delivered via Duck Creek OnDemand, the provider’s SaaS solution for the P&C insurance industry, Cerity’s solution can produce tailored quotes and deliver a policy in five minutes or less. Now offering coverage in Illinois with plans to expand to the rest of the country, Cerity's predictive pricing model has up to 100 price points, making each quote as unique as the businesses they protect.
Starting with no infrastructure and only four employees, the challenge Cerity faced in building a fully-functional insurance solution in minimal time was significant. The company sought off-the-shelf solutions for all aspects of their business, which the carrier credits with much of their speed to market. In addition to Duck Creek Policy and Billing, Cerity also leveraged Duck Creek Industry Content, taking advantage of NCCI templates to stand up complete products with full regulatory compliance with minimal time and effort. And to add further differentiation in the market, the company utilized the Duck Creek Anywhere API, which allowed them to build a proprietary user experience on top of their technology stack without making any compromises in functionality.
“Insurers that embrace a transformational lens to customer experience are achieving significant successes when it comes to small business,” said Karen Furtado, Partner at Strategy Meets Action. “Cerity has applied an ‘outside in’ viewpoint to provide small business owners with a desirable user experience when shopping for insurance. That customer experience, combined with Duck Creek's platform capability, is a strong combination to support the launch of Cerity's business.”
“We saw an opportunity to seize the leadership position for small business owners desiring a fast, easy, and fully digital solution,” said Tracey Berg, President of Cerity Services and EVP & Chief Innovation Officer of Employers Holdings, Inc. “Starting with no infrastructure and four employees, we designed, built, and launched a digital insurance solution that allows small business owners to purchase workers’ compensation insurance in five minutes or less. Within a year, we had a policy and billing system ready for production using Duck Creek Policy, Duck Creek Billing, and Duck Creek OnDemand. We stayed out-of-the-box and leveraged the power of the product to enable an accelerated implementation.”
“Consumers are voting with their wallet and moving online in droves. This has triggered increased investments to build the kinds of omni-channel services necessary to meet their needs,” said Karlyn Carnahan, head of the Americas for Celent’s property & casualty business. “To be successful here, an insurer has to have a streamlined process, a slick user interface, minimal data input, tailored advice, and real-time decisions. Insurers need to move quickly if they want to capture a first-mover advantage.”
All the components and capabilities carriers need to quickly move from concept, development, and implementation to go-live production are included with Duck Creek OnDemand. Continuous management includes easy upgrades to the latest Duck Creek products and automatic circular content (ISO, AAIS, NCCI) updates. Duck Creek’s pre-filled Lines of Business templates, circular updates, and Content Exchange assets ensure that carriers get the implementation jumpstarts, accelerators, and up-to-date data they need to get to market quickly.
“All P&C insurers focus on speed to market as a differentiating factor,” said Andy Dey, chief product and technology officer of Duck Creek. “But what Cerity has done is truly remarkable – they have built a fully-operational business from the ground up in less time than many insurers still shackled to legacy systems take to introduce a single new product. Duck Creek is excited to continue our relationship with Cerity and help them as their operation grows and expands – which we are confident will be a very fast process.”
Founded with a bold vision to reimagine small business insurance, Cerity empowers business owners to quickly and easily protect their team, their assets and their livelihood through an online workers' compensation solution. With its digital-first approach, Cerity is transforming the entire process - from purchasing and maintaining coverage, to filing a claim - to be simple, fast, and easy. The company's proprietary pricing model produces tailored quotes within seconds, and can deliver a new policy in five minutes or less, enabling leaders to get back to what matters most - growing and scaling their operation. Cerity is currently available to small business owners in Illinois. Cerity Services, Inc. is a subsidiary of Employers Holdings, Inc. (NYSE:EIG), an industry veteran, with over 100 years of experience in workers' compensation. Learn more at cerity.com.
About Duck Creek Technologies
Duck Creek Technologies paves a genuine path to the future for P&C insurance companies. Decades of insurance experience underpin advanced technologies specifically designed to accommodate change - allowing carriers to navigate uncertainty and capture market opportunities faster than their competitors. All of the company’s offerings are available standalone or as a full suite, and all are available via Duck Creek OnDemand, the provider’s SaaS solution for the P&C insurance industry. For more information, visit www.duckcreek.com.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Regarding Allocation of Liquefied Natural Gas Terminal Capacities22.8.2019 15:30:00 CEST | Press release
AB Klaipedos Nafta (hereinafter – the Company) hereby informs, that upon conclusion of respective agreement on 22 August 2019, capacities of the LNG Terminal were allocated to Eesti Energia AS under the conditions indicated below: LNG regasification capacities: LNG regasification capacities 61.120.000 kWh (with reference conditions: natural gas upper heating value – 11.90 kWh/nm3, LNG expansion coefficient - 1:578 (m3 LNG/ nm3 natural gas), combustion/measurement temperature - 25/0 °C, pressure – 1.01325 bar). LNG regasification period: from 24th of September, 2019 until 31st of October, 2019 The Company constantly announces and updates the information on its website regarding the capacities of the LNG terminal which are available for booking during the Gas Year. Jonas Lenkšas, Chief Financial Officer, +370 694 80594
Nordic American Tankers Limited (NYSE:NAT) - Commencement of Time Charter with major energy company Equinor. The TC has now started.22.8.2019 15:14:00 CEST | Press release
Hamilton, Bermuda, August 22, 2019 Dear Shareholders, Earlier this year, we informed you of the Time Charter we have entered into of 12 to 15 months. Please note that the Time Charter has now started. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words
Interim financial statement of Arion Bank Mortgages Institutional Investor Fund (ABMIIF) for 201922.8.2019 12:33:00 CEST | Press release
The institutional investor fund ABMIIF, which is managed by Stefnir hf, issued bonds which were admitted to trading on NASDAQ OMX Iceland hf. in 2014. The fund reported annual earnings of ISK 258 million according to the income statement and the earnings are stated as an increase in units in the fund’s accounts. The net assets of the fund at the end of June 2019 totalled ISK 18.386 million according to the balance sheet. The interim financial statement was audited by Deloitte ehf. in accordance with international standards on auditing. It is the auditor’s opinion that the interim financial statement gives a clear picture of the performance of the fund in the first half of 2019, its financial position as of 30 June 2019 and changes in the fund's net assets in the first half of 2019 in accordance with the Annual Accounts Act and the regulations on the financial statements of management companies of UCITS set by the Icelandic Financial Supervisory Authority. On the 8th of August Arion Ban
Avance Gas Holding Ltd - Q2 2019 Presentation22.8.2019 11:14:00 CEST | Press release
Avance Gas Holding Ltd - Q2 2019 Presentation Please find enclosed the presentation of Avance Gas Holding Ltd (OSE: AVANCE) for the second quarter 2019 results to be held on the webcast/conference call 22 August, 2019 at 15:00 CET. Attend by webcast: https://edge.media-server.com/mmc/p/ai3j273v Attend by conference call: UK and International: +44 (0) 2071 928 000 US: +1 631 510 7495 Norway: +47 23 96 02 64 Confirmation code: 3835678 For further queries, please contact: Peder C. G. Simonsen, CFO Tel: +47 22 00 48 15 Email: firstname.lastname@example.org ABOUT AVANCE GAS Avance Gas Holding Ltd operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of very large gas carriers (VLGCs), operating a fleet of 14 modern VLGC. For more information about Avance Gas, please visit: www.avancegas.com This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading
Change in Valmet Oyj’s holding of treasury shares22.8.2019 10:15:00 CEST | Press release
Valmet Oyj’s stock exchange release on August 22, 2019 at 11:15 a.m. EET On August 22, 2019 a total of 389 Valmet shares have been returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2018-2020. Originally, the shares were transferred to the participants after the 2018 performance period of the plan. Including the returned shares, Valmet Oyj now holds a total of 245,624 treasury shares. Further information, please contact: Calle Loikkanen, Director, Investor Relations, Valmet, tel. +358 10 672 0020 VALMET Kari Saarinen CFO Calle Loikkanen Director, Investor Relations Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers. Valmet’s strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our adva
Result of Riksbank reversed auctions SEK bonds22.8.2019 10:07:00 CEST | Press release
Auction date 2019-08-22 Loan 1058 Coupon 2.50 % ISIN-code SE0005676608 Maturity 2025-05-12 Tendered volume, SEK mln 500 +/- 250 Volume offered, SEK mln 1,850 Volume bought, SEK mln 500 Number of bids 5 Number of accepted bids 1 Average yield -0.588 % Lowest accepted yield -0.588 % Highest yield -0.588 % % accepted at lowest yield 100.00 Auction date 2019-08-22 Loan 1061 Coupon 0.75 % ISIN-code SE0011281922 Maturity 2029-11-12 Tendered volume, SEK mln 500 +/- 250 Volume offered, SEK mln 2,150 Volume bought, SEK mln 500 Number of bids 6 Number of accepted bids 2 Average yield -0.298 % Lowest accepted yield -0.298 % Highest yield -0.298 % % accepted at lowest yield 50.00 Auction date 2019-08-22 Loan 1058 Coupon 2.50 % ISIN-code SE000x5676608 Maturity 2025-05-12 Tendered volume, SEK mln 500 +/- 250 Volume offered, SEK mln X,XXX Volume bought, SEK mln X,XXX Number of bids XX Number of accepted bids XX Average yield X.XXX Lowest accepted yield X.XXX Highest yield X.XXX % accepted at lowest y