DCT Industrial Stock Price, News & Analysis

Duck Creek Technologies (Nasdaq: DCT) has announced its first ecosystem hack-a-thon, named the Duck Creek Hatch-a-thon, scheduled for March 6-8, 2022, during the Formation user conference in Orlando, Florida. This 36-hour innovation event invites participation from partners and customers to generate ideas aimed at enhancing cloud and software-as-a-service solutions for the insurance industry. Key areas of focus include accelerating market readiness, improving operational efficiency, and optimizing user experiences across the insurance landscape. Entries close on February 4, 2022.

Duck Creek Technologies (DCT) has announced a strategic partnership with Hi Marley to enhance customer interactions in the insurance sector. This collaboration focuses on integrating AI-enabled SMS technology into Duck Creek's OnDemand software, particularly the claims management solution. The integration aims to streamline communication between insurers and policyholders, improving claims cycle times and customer satisfaction. Initially targeting the US market, the partnership may expand globally, catering to insurers' need for efficient customer engagement.

Duck Creek Technologies (Nasdaq: DCT) announced the launch of a new integration with Precisely, enhancing Duck Creek Policy's capabilities. This integration aims to improve underwriting for high-risk natural disaster areas by leveraging Precisely's Spectrum Spatial for better data control. Senior Vice President Clarence Hempfield emphasized the importance of integrating diverse data sources for enriched insights. Duck Creek Policy enables P&C carriers to utilize low-code tools for faster market entry and heightened operational efficiency, supporting the full insurance policy lifecycle.

Duck Creek Technologies (Nasdaq: DCT) announced that its CEO, Michael Jackowski, and CFO, Vincent Chippari, will present at the Needham Virtual Growth Conference on January 12, 2022, at 8:30 a.m. Eastern Time. A live webcast of their presentation will be available on Duck Creek's investor relations website, with a replay accessible for a limited time. Duck Creek is a leading SaaS provider for the property and casualty insurance industry, offering solutions to help insurance carriers respond to market opportunities effectively.

Duck Creek Technologies reported a 25% year-over-year revenue growth for Q1 FY2022, totaling $73.4 million. Subscription revenue soared 28% to $35.7 million, while SaaS Annual Recurring Revenue grew 40%. The company achieved a GAAP net income of $0.7 million, a significant improvement from a $4.7 million loss in the prior year. Adjusted EBITDA also rose to $7.8 million. Duck Creek forecasts Q2 fiscal 2022 revenue to be between $71.5 million and $73.5 million, maintaining a positive outlook for the full year.

Duck Creek Technologies (Nasdaq: DCT) has partnered with UK insurtech start-up Adiona to revolutionize motor insurance through data-driven pricing. Adiona, launched in September 2021, aims to provide fair premiums based on individual driving habits using AI and telematics. Duck Creek's On Demand SaaS platform supports Adiona in creating tailored insurance products. CEO Michael Jackowski highlighted the partnership's potential to disrupt outdated insurance models. Adiona plans to launch its services in May 2022, focusing on customer-centric solutions that reward responsible driving.

Duck Creek Technologies (NASDAQ: DCT) will release its financial results for Q1 FY2022, ending November 30, 2021, on January 6, 2022, after market close. A conference call to discuss these results and the company’s outlook will follow at 5:00 PM ET on the same day. Participants can access the call via phone or through a live webcast on the company’s website. A replay of the call will be available until January 20, 2022.

Duck Creek Technologies announced the selection of its Policy solution by Starr Insurance Companies to modernize its policy administration system. The transition aims to enhance user experiences and operational efficiencies using Duck Creek's OnDemand SaaS platform. This solution supports multi-currency and multilingual needs, crucial for global operations. Starr plans to build a tailored customer interface on Duck Creek's platform, emphasizing rapid market delivery and improved customer satisfaction, aligning with their digital transformation strategy.

Duck Creek Technologies (Nasdaq: DCT) has partnered with SECURA Insurance to implement Duck Creek's SaaS solutions via Duck Creek OnDemand. This collaboration aims to enhance SECURA's Specialty Lines operations and streamline its property and casualty business processes. Key features of Duck Creek's platform include low-code configuration and API-based architecture, which are expected to improve operational efficiency. SECURA's CIO highlighted the partnership's strategic importance for modernization and market expansion, marking a significant digital transformation in the insurance sector.