GEICO Makes Transition to Duck Creek’s Policy, Billing Software
Staff Writer | March 21, 2017
GEICO is enhancing their customer experience by utilizing new functionality available through Duck Creek Technologies’ policy and billing software. The insurer is transitioning its personal lines of business to the platform and infrastructure that will include both Duck Creek Policy and Duck Creek Billing.
The software is being deployed in planned stages, beginning with the policy software that supports GEICO’s umbrella product now in production. The personal auto and motorcycle lines will transition to the new policy and billing system in 2017.
“Customer satisfaction continues to be a key driver of our business and Duck Creek’s industry expertise and advanced technology will help us deliver the exceptional service our customers expect,” says Steve Smith, vice president of GEICO’s information technology department. “Every company knows that the future will continue to present more technology risks. Through this recent modernization, we’re better prepared to take advantage of the latest innovations and digital disrupters.”
According to Karen Furtado, partner with Strategy Meets Action, the GEICO implementation showcases the tangible business benefits that a modern core system can deliver to both the internal operations and directly to the policyholder experience.
“The project delivers to the business goal many are seeking—the ability to implement a 50-state line of business in a 12 month timeframe for a Tier 1 insurer mainline book of business, which translates to an exponential increase in business,” says Furtado. “The open API architecture is critical in supporting the shifting distribution needs that insurers are requiring to be competitive with both the traditional insurers and new insurtech startups that are emerging as real threats.”
“We are very excited to be able to support GEICO’s strategic growth initiative through our policy and billing software that will help them achieve the customer satisfaction and operational efficiency results they are targeting,” says Matt Foster, chief operating officer, Duck Creek Technologies. “Our integrated platform will deliver the responsiveness they require to meet the ever-changing needs of the marketplace now and beyond.”
GEICO, the second-largest private passenger auto insurance company in the U. S., selected Duck Creek Policy to streamline processes, consolidate products on a single platform, and bring products faster to market on both traditional and digital channels. It will also provide added service to customers and counselors with functionality that simplifies the user experience for customers and policyholders.
This deployment of the policy software for the umbrella business was completed in just over a year, well below the three or more years typically seen with other carriers and competing vendor technology. The delivery of the software is being supported by resources from Accenture, a delivery partner for Duck Creek.
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