Duck Creek Technologies, a global leader in software solutions for the property and casualty (P&C) insurance sector, has acquired Toronto-based Risk Control Technologies (RCT). This strategic move will integrate RCT’s flagship platform, RiskHub, into Duck Creek’s Software-as-a-Service (SaaS) suite, marking a significant step towards enhancing underwriting accuracy and streamlining claims processes for insurers.
The acquisition aims to strengthen risk management within the insurance industry. RCT’s platform, RiskHub, is known for optimizing risk data coverage, providing preemptive risk mitigation tools, and reducing overall risk exposure for insurers. By integrating RiskHub into its SaaS offerings, Duck Creek will enable insurers to gain deeper insights into risks, improve underwriting processes, and enhance overall operational efficiency.
David Da Costa, CEO of RCT, expressed excitement about joining Duck Creek, noting that this partnership will further “optimize risk-data coverage across the insurance business.” He emphasized that the integration will help insurers modernize their approach to risk assessment and strengthen customer engagement.
Mike Jackowski, CEO of Duck Creek, stressed the growing need for advanced risk mitigation tools, particularly as emerging risks such as climate change and cyber threats create new challenges for insurers. Jackowski praised RCT’s leadership in “preventing losses through preemptive risk mitigation” and highlighted how the combined strengths of both companies will deliver innovative solutions to the market.
Murali Natarajan, Senior VP and CIO of West Bend Mutual Insurance, a long-time partner of both Duck Creek and RCT, is optimistic about the merger’s impact on the insurance sector. He believes the combined capabilities of Duck Creek and Risk Control Technologies will “bolster risk management and loss control,” ultimately benefiting insurers’ underwriting processes and improving customer outcomes.
Duck Creek’s acquisition of Risk Control Technologies positions both companies to deliver enhanced risk management solutions to the insurance industry. By integrating RiskHub into Duck Creek’s existing suite of products, insurers will have access to more accurate risk data, streamlined claims processes, and tools to better prevent losses. This move reflects Duck Creek’s commitment to modernizing the insurance industry, addressing emerging challenges, and helping insurers build stronger relationships with their policyholders.
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