Crum & Forster, a renowned provider of specialty and standard insurance offerings, has selected Accenture’s (News - Alert) Duck Creek Policy Administration software to support, enhance and modernize its technology.
Duck Creek Software will be used by Crum & Forster as a major component of its rating and policy processing system for commercial lines, workers' compensation and specialty lines. Post deployment, the software will help the organization streamline its policy administration processes, increasing operational efficiency.
Crum & Foster will be using pre-configured insurance product deployment solutions in the form of templates for Insurance Services Office (ISO)-based commercial lines and worker’s compensation products based on National Council on Compensation Insurance (NCCI).
The templates will help in the rapid implementation and maintenance of the firm’s established lines of business going forward.
"As our business continues to expand, we need a new system with advanced technology to help us scale up for growth," said Nicole Bennett, chief information officer, Crum & Forster. She commented that "We selected Accenture Duck Creek software because it will enable us to easily support and configure all of our lines of business on a single platform. “Giving our lines of business configuration capabilities will allow us to react faster to market changes with updated products and better service."
"We are pleased to be working with Crum & Forster and supporting their growth initiatives," said Michael A. Jackowski, global managing director of Accenture Software for P&C insurance. "The flexibility and rich functionality of our policy administration software suite, including our industry-leading rating solution, will allow them to provide an enhanced user experience for both underwriters and agents."
The award-winning policy and claims software from Accenture offers an integrated suite of software and modules, with the flexibility to be implemented individually or as a part of a broader migration strategy. The combined software thus aids insurers of all sizes.
The flexible suite of property and casualty (P&C) software enables all insurers big and small to configure products, transact lines of business and process claims.
The Crum & Forster group of companies consists of wholly-owned subsidiaries of Crum & Forster Holdings Corp. and indirect subsidiaries of Fairfax Financial Holdings Limited. Thus, Crum & Forster is a national insurance group that is part of Fairfax Financial Holdings Limited.
Accenture has been collaborating with its clients and helping them in becoming high-performance entities. The company generated net revenue of $27.9 billion for the fiscal year ending August 31, 2012. It is a global management consulting, technology services and outsourcing company, with about 257,000 people of its people serving clients in more than 120 countries.
Edited by Braden Becker