CORE INSURANCE, RISK MANAGEMENT
CCC Intelligent Solutions and Duck Creek Technologies | February 03, 2023
On February 2, 2023, CCC Intelligent Solutions (CCC), a premier SaaS platform powering the P&C insurance industry, joined Duck Creek Technologies' partner program as a strategic member.
Duck Creek Technologies is an intelligent solutions provider shaping the future of P&C insurance. Joint customers will benefit from increased automation and improved efficiency in claims handling for both employees and policyholders, thanks to the integration, which will allow Duck Creek core system users seamless access to solutions from CCC's industry-leading claims management suite.
Manju Bansal, Vice President, Ecosystems and Alliances for CCC, stated, "Our insurance customers are looking to automation to drive greater efficiency and better experiences for their staff and end consumers."
He added, "Working with Duck Creek is a natural extension of our network strategy, which is centered on enabling technology partners to integrate with the CCC platform and offer solutions that add value to our customers' business. This integration will not only save insurers time accessing the tools they need and use every day, but it will also help drive process improvements across their existing workflows."
(Source – GlobeNewswire)
The Duck Creek and CCC interface gives mutual customers seamless access to their CCC Claim Folders and technologies that promote early claim resolution, such as predictive inspection, which turns complex vehicle damage data into actionable insights at the first notice of loss. Insurers can also hire workers, find repair businesses, and schedule appraisals for policyholders. In addition, single sign-on (SSO) allows insurers to access CCC's platform from Duck Creek Claims.
Robert Fletcher, Sr. Partner Manager, Duck Creek Technologies, expressed, "We are delighted to deepen our relationship with CCC."
"This is an important integration for our customers who seek to drive efficiency and automation into everyday processes. We're excited to offer seamless access to certain CCC solutions and create even more value for our platform," he concluded.
(Source – GlobeNewswire)
About CCC Intelligent Solutions
CCC's connected data platform is reshaping the trillion-dollar automobile and insurance industries. Its cloud-based SaaS solutions use the latest AI, IoT, telematics, customer experience, mobile, and digital workflow technologies to generate deep, actionable insights that help clients drive business and impact lives. The company has innovated throughout its 40-year history, scaling through client relationships and delivering industry-leading first-to-market solutions.
About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions supplier shaping the future of property and casualty (P&C) and general insurance. Modern insurance systems use its platform to perform flexible, innovative, and evergreen operations on the cloud. The company believes insurance should be there for people and businesses when, where, and how they need it. Besides, all its market-leading solutions are available via Duck Creek OnDemand.
PCF Insurance Services | November 16, 2022
PCF Insurance Services (PCF), a top 20 U.S. insurance brokerage firm, has acquired Milwaukee-based Milz Health Group, a full-service health insurance agency providing coverage to Wisconsin Medicare-eligible individuals and coverage through the Affordable Care Act.
Milz provides affordable health care coverage for individuals through an integrated suite of online services. Offering Medicare Advantage Plans, Medicare Supplemental Insurance policies (Medigap plans), and Medicare Part D prescription drug plans (PDP), Milz Health Group uses a unique, proprietary process to design plans with top insurance carriers that are affordable and effective.
"PCF Insurance Agency Partners are deep-rooted, trusted advisors for their clients, and with more than 50 years serving Wisconsin with affordable health coverage, the Milz Health Group team was an ideal partner to expand our presence into that market,"
- Peter C. Foy, Chairman, Founder, and CEO of PCF Insurance
The PCF Insurance business model supports and expands on the agency's continued success with its strong market relationships and the efficiencies and economies of scale generated by a shared services approach. PCF Insurance Agency Partners can offer clients enhanced coverage offerings, more competitive pricing, and innovative solutions for protection against even the most unique risks.
Jason Milz, Principal at Milz Health Group, explains that PCF's entrepreneurial focus opens the door to more growth opportunities while allowing us to continue to be who we are, guided by our core values, which are important to the way we conduct our business.
About Milz Health Group
Voted Best Health Insurance Site in Milwaukee in 2021 by Expertise.com, Milz Health Group has over 50 years of experience providing affordable health coverage to individuals. Focusing on Wisconsin Medicare and the Affordable Care Act, Milz's unique process and online services find an affordable, effective plan every time. Milz Health Group represents most national Medicare insurance carriers and several regional companies. Neither Milz Health Group nor its agents are connected with the Federal Medicare program.
About PCF Insurance Services
A top 20 U.S. broker headquartered in Lehi, Utah, PCF Insurance Services is a leading full-service consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers' compensation solutions. Propelled by its people, PCF Insurance's agency-centric operating model and entrepreneurial environment support its tremendous growth profile, offering partners alignment through equity ownership, significant leadership incentives, and resources to over 3,100 employees throughout the U.S. Ranked #20 on Business Insurance's 2022 Top 100 Brokers and #13 on Insurance Journal's 2022 Top Property/Casualty Agencies, PCF Insurance is a notable leader in the insurance space.
Milliman | November 23, 2022
Milliman, Inc., a premier global consulting and actuarial firm, today announced the release of Milliman Agile ALM. This innovative software package makes asset/liability management (ALM) and stochastic valuation accessible to more insurers, helping them comply with Solvency II, IFRS 17, and other requirements.
"The fundamental advantage of Milliman Agile ALM is that it does not require remodeling the entire portfolio of insurance liabilities, Milliman Agile ALM offers an accessible solution that helps insurers satisfy reporting requirements and make business decisions with greater confidence."
-Ed Morgan, principal and Head of Strategy and M&A for Milliman's practices in Italy and Central and Eastern Europe
Unlike traditional dynamic ALM models, Milliman Agile ALM uses a standalone asset projection model that can be linked to external liability software. Rather than simulating assets interacting with liabilities, the technology runs separate asset and liability models in an iterative process that quickly arrives at a single solution.
Our approach is unique because of our method for separating the asset model from the liability model, This separation is highly efficient as it allows us to take advantage of a client's existing liability modeling and focus the validation directly on the ALM modeling and interactions,said Grzegorz Darkiewicz-Moniuszko, senior consultant at Milliman.
Using Milliman Agile ALM, insurers can test different investment and product strategies, optimize management actions, project capital requirements, and even validate other ALM models, all without significant investment or retraining.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.