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Boston, May 16, 2019 (GLOBE NEWSWIRE) -- Duck Creek Technologies announced today that it has won an Xcelent Award from industry analyst firm Celent, taking home a 2019 Breadth of Functionality Award for Duck Creek Distribution Management. The solution lets insurers automate historically-onerous tasks like ensuring licensure compliance, compensation management, and producer onboarding—reducing paperwork and manual processes. As Celent observes in its report, “The performance management tools are quite complete and tracking individual agent plans illustrates significant breadth.”
Efficiencies in every aspect of an insurance carrier’s distribution network are key to increasing profitability as quickly as possible. With Duck Creek Distribution Management, key onboarding activities are handled automatically, saving insurers valuable time and getting producers up to speed and booking business as soon as possible. As Celent noted when giving Duck Creek this award, “The solution has all the key functionality needed for onboarding, compensation, and performance management. It supports multiple types of hierarchies as well as unlimited parent-child hierarchies. Integration with NIPR and FINRA handles just-in-time license validation. Templates are used to design and manage both transactional and incentive compensation. What-if modeling to determine compensation change impacts can be performed within the application.”
“Celent would like to congratulate our XCelent award winners” said Mike Fitzgerald, senior analyst at Celent. “Advanced distribution management solutions allows insurers to respond to the challenges of rising customer expectations and increasing channel variation.”
Complex and flexible commission structures for both transactional and incentive comp programs are becoming more prevalent. Some carriers are beginning to pay commissions more frequently than the traditional monthly schedule as a differentiating feature to drive more business. Supporting these new structures with spreadsheets or legacy systems can range from time-consuming to impossible. Duck Creek Distribution Management removes roadblocks to non-traditional compensation structures, letting carriers choose when and how their producers get paid and alter those structures at any time with simple configurations.
“Offering P&C carriers a distribution management solution that lets them take uncertainty and labor-intensive manual processes out of the picture, and backing it with the most experienced team in the business, are our goals every day,” said Prasad Boppana, VP of Product Management at Duck Creek Technologies. “We’re extremely proud to stand behind the most advanced, flexible, and functionality-rich product on the market, and honored to be recognized for our achievements by Celent.”
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. Duck Creek solutions are available standalone or as a full suite. 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.
Sam A. Shay Duck Creek Technologies +1 (857) 201-5784 firstname.lastname@example.org