Duck Creek's Mission

Duck Creek Technologies seeks to become the leading provider of product lifecycle management software and services for the insurance industry.

How does product lifecycle management differ from policy lifecycle management? Product lifecycle management (PLCM) focuses on managing the entire insurance product manufacturing process from the cradle (product design and creation) to adult-hood (filing and deployment), and-when necessary-to the grave (market withdrawal). Unlike traditional policy lifecycle management, which focuses primarily on the distribution process, PLCM recognizes that a great policy distribution system means little if product quality, timeliness, efficiency, and profitability are ignored.

How can carriers benefit from implementing PLCM? Leading companies in other industries have practiced forms of PLCM for years, and the benefits to these companies have been significant. Computer manufacturing companies, for example, have created significant margin and quality advantages by continuously improving all phases of the product lifecycle process, from design to supply chain, to manufacturing, to sales, to distribution and support. Carriers who implement similar strategies will realize similar benefits:

• Improved time-to-market for new products and product enhancements
• Reduced product development costs
• Better product and service quality

Duck Creek's XML-enabled EXAMPLE Platform® enables insurance carriers and other participants in the insurance distribution process to define and develop rating, underwriting, and other policy-related services for deployment to all points on the product value chain.

Duck Creek's extensive use of XML enables users to create and manage their insurance products in a universally available format - one place to store all product information, available to all applications.