In a strategic move, Duck Creek Technologies India LLP is poised to introduce state-of-the-art cloud-based software-as-a-service (SaaS) solutions tailored for India-based insurers. These offerings can be availed as a comprehensive suite of capabilities or as stand-alone solutions.
According to reports, the expansion will include the establishment of a dedicated data centre within India. To bolster its operations, the endeavour will be bolstered by a workforce of nearly 1,000 local professionals.
The Indian insurance landscape presents an enticing proposition, having been valued at $127 billion in 2021. Out of this, $30 billion accounts for the non-life sector. The sector’s trajectory is projected to ascend to an impressive $200 billion by the year 2027.
Notable Collaboration and a shared vision for transformation
Duck Creek Technologies has embarked on its Indian journey with an impactful partnership, securing HDFC ERGO General Insurance Company Limited as its inaugural India-based insurance customer for its core systems full-suite.
Rohit Bedi, Chief Revenue Officer at Duck Creek Technologies, said: “Our commitment to HDFC ERGO aligns with their outstanding vision to make insurance easier, more affordable, and more dependable for all the people in India. We are extremely proud to be a partner to HDFC ERGO, India’s leading insurance brand, in their journey to transform general insurance services in the region.
He continued: “This is a significant milestone in Duck Creek’s continued growth as a leading SaaS choice for insurers worldwide. Duck Creek’s partnership with HDFC ERGO is another proof point that our global technology solutions are geared towards enabling a more modern and efficient insurance enterprise.”
Empowering innovation through Duck Creek Technologies solutions
In collaboration with HDFC ERGO, Duck Creek Technologies will unleash its intuitive, user-friendly, and robust solutions. These solutions are poised to empower HDFC ERGO to expedite the launch of new products, significantly enhance customer experiences across the policy lifecycle, and elevate the insurer’s entire portfolio—a recipe for gaining a competitive edge.
Sriram Naganathan, President and Chief Technology Officer of HDFC ERGO General Insurance, shed light on the partnership’s significance, stating, “As a leading insurer of the country, at HDFC ERGO, it has been our priority in adopting innovative technologies to address the evolving demands of our customers and offer them an enhanced customer experience.
“Being a digital insurer of scale, our partnership with Duck Creek Technologies India LLP is a crucial step towards unlocking the full potential of HDFC ERGO’s wide insurance solutions and enabling us to offer efficient delivery and more convenience for our customers. Duck Creek’s SaaS solution will empower our advanced AI/ML models, providing essential digital capabilities to meet the critical needs of our customers and partners.”
Shaji Sethu, Managing Director APAC, of Duck Creek Technologies, concluded, “Duck Creek is truly excited to enter the Indian insurance market with our global solutions.”
He added: “We want to empower insurance companies in India with hyper-personalised insurance solutions that help customers buy or service insurance from any device and anytime. Customers from all parts of India can feel secure knowing they are covered and can raise claims anytime.”
Source: IBS Intelligence
