Concord Group Insurance has upgraded its current Accenture Duck Creek policy software from Accenture (ACN) to take advantage of the latest features to optimize their four personal lines of business: automobile, mass automobile, dwelling fire and homeowners.
The Northeast regional insurer will use the technology advancements to pursue new revenue opportunities and help reduce product development costs in addition to improving the services it provides to customers and independent agents throughout Maine, Massachusetts, New Hampshire and Vermont.
The Concord Group will also benefit from technical and feature upgrades to the industry-leading Accenture Duck Creek Rating engine and Accenture Duck Creek Templates included in the comprehensive policy software.
The updated system supports pricing accuracy and enables regulatory compliance through the pre-configured bureau-based content within the 10,000 ISO/NCCI policy forms.
The software upgrade was completed by an integrated team consisting of Concord Group’s IT staff, Accenture Duck Creek insurance experts, and technicians from Accenture Duck Creek delivery partner Syntel, who will also assist Concord’s in-house team with ongoing system maintenance.
"We’ve been using the Duck Creek policy software for years and the latest capabilities made it very compelling to upgrade to help us grow our business," said Michael P. Capozza, vice president – IT, Concord Group Insurance.
"Any software upgrade poses challenges, but with the right team, business disruption can be managed to minimize risk and cost," said Michael A. Jackowski, global managing director, Accenture Duck Creek.
Accenture Duck Creek Policy and Rating are included in a suite that also incorporates claims and billing software. The configurable software is designed to work independently or as a combined unified approach to manage all aspects of the P&C insurance lifecycle. Value can be attained via on-premise software or Duck Creek On-Demand, a Software as a Service model.
Concord Group Insurance is one of the largest writers of personal and commercial insurance in New England and employs over 160 people in New Hampshire.