Mid-tier IT (information technology) services company Mindtree on Monday said it has partnered with Boston, Massachusetts based insurance software maker Duck Creek Technologies to improve customer experience for UPC Insurance.
Through a creation of SaaS-based core systems, the two IT companies will integrate functions of policy, billing, claims, data insights, and other insurance technology applications into a single platform.
Duck Creek will use Duck Creek OnDemand, its SaaS solution, for the property and casualty (P&C) insurance industry, in the reported exercise, as per a statement.
Founded in 1999, St. Petersburg, Florida based insurer UPC Insurance is an underwriter of catastrophe exposed property insurance in the coastal regions of the United States for personal and commercial properties.
With increasing customer expectations around fast and convenient processing of claims, UPC Insurance has successfully modernised its IT systems so that it can improve operational efficiencies and process claims in a matter of minutes instead of hours, the statement said.
“Our partnership with Mindtree and Duck Creek has led to the launch of our latest company, Skyway Technologies. Skyway.com will offer direct-to-consumer personal lines homeowners’ products, allowing for a true multi-channel experience for UPC customers,” Chris Griffith, president of Skyway Technologies and CIO of UPC Insurance, said.
Digitally-enabled, UPC Insurance provides customers with faster intake of first notice of loss (FNOL), touchless claims handling, enhanced payment capabilities including digital payments, and improved customer service on its self-service channels, the statement added.
Mindtree added that product launches and updates at UPC Insurance can now happen in weeks versus months. It can now leverage analytics across the organisation, to adopt an insights-driven approach in optimizing customer experiences.
“Together with Duck Creek, we are able to ensure on-time, on-budget delivery of solutions – allowing UPC Insurance to deploy new products at the speed of business, and to provide its customers with an improved digital experience,” Venu Lambu, executive director and president, global markets at Mindtree, said.
Founded in 2000, Nasdaq-listed Duck Creek Technologies’ enterprise software solutions are designed for insurance carriers.