Accenture has agreed to acquire Duck Creek Technologies, a Missouri-based firm that specializes in software solutions for the property and casualty (P&C) insurance industry for undisclosed amount.
The transaction, which is expected to close within the next 30 days, will strengthen Accenture’s capabilities to support P&C insurers of all sizes. It will enhance Accenture’s ability to help insurers react faster to changing market conditions, quickly launch products that match consumers’ evolving needs, and improve customer satisfaction, while reducing operating costs.
Accenture said the transaction will complement its existing P&C, component-based software platforms and will provide a comprehensive spectrums of processing capabilities for the P&C insurance market from product configuration and definition to policy management, including underwriting, billing, rating, ISO-based products support and claims management.
Established on 2000 in Bolivar, Missouri, the Duck Creek has grown to serve more than 60 clients in North America and the UK, processing all commercial, personal, and specialty lines of business. It has offices in Columbia, South Carolina; Farmington, Connecticut; and Surrey, UK.
Accenture Software global managing director Colin Davies said this acquisition will enable the firm to provide insurers with a comprehensive component-based P&C software platform, with modules that can be implemented individually or collectively as part of a broader migration strategy, while reducing the total cost of ownership.