Duck Creek Policy

Duck Creek Policy is the policy administration component of Duck Creek's insurance platform, handling product definition, rating, quoting, issuance and endorsement for property and casualty insurers. Policy administration is the system of record for what an insurer has actually agreed to cover.

Product definition is the capability that decides how competitive an insurer can be. Launching a new product, or changing rating factors in response to loss experience, is either a configuration change taking weeks or a development project taking a year, and that difference determines whether the insurer can respond to its market.

The legacy problem in this industry is unusually severe. Many insurers run policy systems written decades ago in languages few people still learn, and those systems work perfectly well while making every change expensive, which is why replacement projects here are measured in years and occasionally fail publicly.

Rating is where the technical difficulty concentrates. A premium calculation combines dozens of factors with regulatory constraints varying by jurisdiction, it must be auditable to a regulator, and it must produce the same answer every time for the same inputs. No pricing is published, which is standard for systems bought as multi year programmes.