Interview Synopsis

Duck Creek Technologies – SaaS P&C insurance platform leader & recent IPO

  • Multi Asset
  • Financials
  • Global

Duck Creek Technologies, which provides P&C software and services for insurers, has spent the past four years transforming its core legacy software to “go all in on the SaaS cloud platform”. Third Bridge Forum spoke to a former executive at the US-headquartered company to understand its growth strategy and what potentially lies ahead following its recent IPO.

SaaS momentum continues at Duck Creek

The Interview started with the expert sharing his observations on what makes Duck Creek stand out from its main competitors, Guidewire and Majesco. “They [Duck Creek] are definitely further ahead than Guidewire,” he said. “Guidewire has struggled with making the transition to cloud.” Although Majesco has “made some good investments within its cloud platform”, it lacks the depth of insurance and regulatory functionalities that Duck Creek has. 

Guidewire has the broadest global footprint, it was acknowledged, while Duck Creek’s clients are primarily US-based. But Duck Creek has been bolstering its US presence and, the Interview suggests, could now use some of its IPO funding to pursue international growth, including in Europe.  

Competition from start-ups including Vlocity, which was built on, and has since been acquired by, Salesforce, was also discussed. Players such as Vlocity and BriteCore are playing the “long game” by adding new products and increasing their expertise. Duck Creek is currently in a “sweet spot”, according to the expert, having established strong digital and platform capabilities with a robust insurance background.

Among other topics, the Interview considered whether Duck Creek should use some of its IPO capital for M&A. “It’s critically important,” the specialist said. “Insurance companies are looking for a full-blown solution because… there are a lot of moving pieces to provide an automated digital experience.”

To access all the human insights in Third Bridge Forum’s Duck Creek Technologies – SaaS P&C insurance platform leader & recent IPO Interview, click here to view the full transcript. 

The information used in compiling this document has been obtained by Third Bridge from experts participating in Forum Interviews. Third Bridge does not warrant the accuracy of the information and has not independently verified it. It should not be regarded as a trade recommendation or form the basis of any investment decision.

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