NEW YORK, July 28, 2021 (GLOBE NEWSWIRE) -- Planck, an AI-based data platform for commercial insurance, announced today it has partnered with Duck Creek Technologies (Nasdaq: DCT), a leading provider of SaaS insurance core systems, to offer integrated data insights and analytics that provide an accurate view of key insurance risk parameters. An integration between Planck and the Duck Creek Platform gives insurers the ability to drive service and underwriting excellence, by connecting the most up-to-date data insights for the small to medium business sector into their existing workflows and processes.
“Planck has solved the insurance industry’s long-standing need for accurate, real-time business insurance insights,” said Ernie Feirer, Head of U.S. Business at Planck. “By partnering with Duck Creek, we facilitate the delivery of those insights to the software platform where carriers manage risk.”
Planck draws on a wide range of sources for data including online images, text, videos, reviews, and public records, to generate risk-related commercial insights using just a company name and address. Planck’s holistic approach to manufacturing data provides an accurate view of key insurance influencing parameters. Carriers, MGAs, and brokers leverage Planck’s platform for underwriting new and renewing policies, instant quoting, lead generation, and claims.
“Planck’s platform uses AI to generate insights that can make commercial underwriting much faster and more predictable, resulting in the best outcomes for insurers,” said Elizabeth Del Ferro, Vice President, Partner GTM at Duck Creek Technologies. “Their solution is a fantastic value-add for carriers, and Duck Creek is thrilled to welcome them into our rapidly-growing partner ecosystem.”
Planck and their team of data experts provide insurance-related insights and analytics for more than 50 major business segments including restaurants, construction, retail and manufacturing, and multiple insurance lines including workers compensation, errors & omissions, and general liability. The Planck data integration package now available on the Duck Creek Content Exchange sends business entity inputs from the Duck Creek Platform to Planck's API, enabling transmission of up-to-date and accurate underwriting metrics to streamline commercial insurance processes, including submission prefilling & validation, underwriting recommendations, premium audit, renewals, and more, to increase gross written premium while reducing loss and expense ratios. For commercial insurers using the Duck Creek Platform, the Planck partnership offers a simple and convenient avenue to easier and more accurate underwriting powered by AI, while using a single API call across these multiple use cases.
About Planck
Planck provides an AI-based data platform for commercial insurance and works with top insurance companies to increase premiums while reducing loss and expense ratios. Its mission is to empower commercial insurers by generating existing insights and new predictive markers that streamline the commercial underwriting process, enable insurers to instantly & accurately underwrite any policy and manage their risk at policy bind and throughout the policyholder lifecycle. Planck was founded by a team of serial entrepreneurs with extensive backgrounds in insurance and technology. For more information, visit www.planckdata.com.
About Duck Creek Technologies
Duck Creek Technologies (Nasdaq: DCT) is a leading provider of core system solutions to the P&C and general insurance industry. By accessing Duck Creek OnDemand, the company’s enterprise Software-as-a-Service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek’s functionally-rich solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.
Planck Media Contact:
Sarah Caputo
marketing@planckdata.com
314-913-1827
Duck Creek Technologies Media Contact:
Paul Rechichi
Racepoint Global
prechichi@racepointglobal.com
617-624-3295