A pioneering initiative has been revealed by Duck Creek Technologies, a provider of property and casualty (P&C) solutions, in collaboration with Microsoft. This endeavor aims to empower insurers to rethink their processes by streamlining implementation procedures and accelerating time-to-market using generative artificial intelligence (AI).
The Goose Creek program is built on Microsoft Azure, leveraging the capabilities of the Azure OpenAI Service.
This development comes at a time when large language models (LLMs) are reshaping the technological landscape.
Given its potential to transform how carriers operate and engage with clients, Duck Creek asserts that this marks a significant advancement in the insurance sector.
The partnership between Duck Creek and Microsoft seeks to enhance the adaptability of the healthcare industry by merging Duck Creek’s expertise in comprehensive solutions with Microsoft’s cutting-edge technologies.
“Generative AI is a truly groundbreaking system, and our esteemed clients stand to gain significantly from its robust functionalities,” stated Mike Jackowski, CEO of Duck Creek Technologies. “Our objective is to equip policyholders with the means to leverage AI tools and expedite product development.”
This collaboration signifies the next phase in our longstanding partnership, where we are at the forefront of combining Microsoft’s exceptional capabilities with Duck Creek’s expertise to deliver state-of-the-art technological solutions for the P&C and general insurance sectors. We are committed to spearheading the adoption of relational AI in the insurance sector and addressing development challenges while upholding ethical standards and regulatory compliance.
Duck Creek is leveraging this evolving technology to create cutting-edge solutions for carriers.
Examples include Copilot options, which utilize near-real-time data to empower policyholders in making informed decisions and adapting to market dynamics, as well as performance tools that enhance efficiency and productivity across the insurance ecosystem.
According to Jess Keeney, Chief Product & Technology Officer at Duck Creek Technologies, “Duck Creek will continue to advance the application of AI in the insurance sector and drive rapid business transformation towards personalized experiences.”
We are dedicated to delivering tangible outcomes and tackling critical business issues, continuously exploring how our solutions can seamlessly integrate into our clients’ operational landscapes. Microsoft and Duck Creek share a common goal of enhancing the overall customer experience across the insurance lifecycle. This signifies a significant shift in how underwriters leverage customer data for risk analysis, claims handling effectiveness, fraud detection, and the industry’s ability to meet customer demands and swiftly address feedback.
Bill Borden, CVP for Worldwide Financial Services at Microsoft, remarked, “Modern insurers are keen to leverage the power of relational AI to drive measurable business value.”
To help our mutual insurance clients achieve substantial enhancements in workforce productivity, redefine customer interactions, and drive innovation responsibly and effectively, we are thrilled to deepen our collaboration with Duck Creek and introduce innovative generative AI-powered capabilities.
