Duck Creek To Provide Comprehensive Risk Management, Mitigation Solutions Via RCT Acquisition
KUALA LUMPUR, Oct 11 (Bernama) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) insurance, has acquired Risk Control Technologies Inc (RCT), a Toronto-based provider of risk management and loss control solutions.
This strategic investment is set to transform how insurance carriers prevent loss and manage risk, enabling deployment of advanced artificial intelligence and machine learning capabilities at the forefront.
In a statement, Duck Creek Technologies Chief Executive Officer (CEO), Mike Jackowski said RCT is a leader in not only identifying potential loss, but preventing it through preemptive risk mitigation.
“In addition to sharing Duck Creek’s core values, RCT’s leadership and team members bring a wealth of insurance knowledge and experience. Together, we will help insurers work closely with their policyholders to prevent losses, improve safety and better prepare for the future,” he said.
Meanwhile, RCT CEO, David Da Costa said being part of Duck Creek will strengthen its goal to help carriers optimise and increase risk-data coverage across their entire business.
“We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry and help insurers strengthen their customer engagements and drive impactful operational efficiencies,” said Da Costa.
The RCT RiskHub platform will enhance the Duck Creek software as a service (SaaS) suite of insurance technology products, further increasing Duck Creek’s ability to improve underwriting accuracy, optimise claims processes, and reduce overall risk exposure.
By integrating RCT’s solution into Duck Creek platform, insurance carriers will have rich predictive capabilities, enabling them to better manage underwriting risks and maximise an efficient, integrated policy and claims management experience.
RCT’s industry-leading loss control and risk assessment platform will be seamlessly integrated with Duck Creek’s comprehensive suite of products to enable data-driven decisions for all stakeholders to improve proactive risk mitigation.
-- BERNAMA