KUALA LUMPUR, Feb 5 (Bernama) -- Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has launched its Payments Marketplace, a comprehensive payments ecosystem purpose-built for the global insurance industry.
The Duck Creek Payments Marketplace offers seamless integration with trusted payment providers and delivers end-to-end payment management for carriers, according to a statement.
A key part of the launch is a strategic collaboration with Paymentus, a provider of digital payment solutions, which adds substantial payment volume to the marketplace. This partnership will support top global insurers and major regional carriers.
Duck Creek Technologies Chief Payments Officer, Allan Lacoste said the Payments Marketplace is a major technological advancement in the insurance industry, focusing on secure, seamless payment processing for carriers and their customers.
“Through strategic partnerships with industry leaders like Paymentus, we're building a robust ecosystem that empowers carriers with both payment flexibility and reliability,” he said.
Meanwhile, Paymentus Holdings Inc Chief Commercial Officer, Jerry Portocalis said the partnership will deliver best-in-class electronic billing and payment solutions to a larger, more global customer base.
By leveraging the Duck Creek Payments Orchestrator, the Payments Marketplace significantly reduces payment integration timelines from the typical nine to 18 months to just one to two weeks.
This rapid integration offers carriers a smooth connection to global payment systems, supporting both collections and payouts without requiring major changes to their information technology (IT) infrastructure.
Additionally, the platform ensures continuous updates, security, and compatibility with Duck Creek’s software as a service (SaaS) core systems, offering enhanced experiences for both insurers and customers.
-- BERNAMA
