DCT Industrial Stock Price, News & Analysis

Duck Creek Technologies (NASDAQ: DCT) has partnered with Mutual Benefit Group to enhance customer experience through integrated communication solutions.
This collaboration leverages SPLICE Software's automated text integration within the Duck Creek platform, enabling insurers to improve customer engagement during the claims process. By utilizing various communication channels, such as SMS and email, Mutual Benefit can provide timely updates to clients, enhancing the overall claims lifecycle management and customer satisfaction.

Duck Creek Technologies announced a successful implementation for Argyle Insurance in Australia, achieving a sub-60-day rollout of its platform. This rapid deployment was made possible through collaboration with Coforge, facilitating a hybrid operating model in the Australian general insurance market. The platform enhances broker access to various insurers and products, thereby improving client outcomes. The implementation signifies a milestone in insurance technology, enabling Argyle to leverage over 5,000 dynamic questions and pricing combinations to better meet SME insurance needs.

Gradient AI and Duck Creek Technologies have announced a partnership to provide integrated AI solutions aimed at enhancing workers’ compensation management. Their first joint customer, Builders Mutual Insurance, will benefit from streamlined claims processing, improved risk identification, and reduced training time for new adjusters. This initiative addresses the significant talent gap in the insurance industry as many experienced workers retire. The AI solutions utilize institutional knowledge to better inform adjusters, allowing them to make decisions efficiently and effectively.

Duck Creek Technologies (NASDAQ: DCT) announces a new integration with ExamWorks’ U.S. IME division, enhancing its claims platform for property and casualty insurance. This cloud-based integration allows users to effortlessly manage Independent Medical Examination (IME) referral requests, specifically for workers’ compensation, auto, and liability claims. By embedding this service, Duck Creek aims to streamline workflows and improve efficiency. The partnership signifies a commitment to integrating industry leaders to enhance the overall claims lifecycle experience for customers.

Duck Creek Technologies (NASDAQ: DCT) reported its Q4 and full-year fiscal 2022 results, highlighting a 14% increase in total revenue to $80.7 million. Subscription revenue reached $40.2 million, up 21% year-over-year, while SaaS ARR increased 25% to $169.3 million. The company achieved non-GAAP income from operations of $6.1 million for Q4 and $21.6 million for FY 2022. Duck Creek forecasts FY 2023 revenue between $328.0 million and $336.0 million and adjusted EBITDA of $25.0 million to $27.0 million.

Duck Creek Technologies (NASDAQ: DCT) has announced the international expansion of its platform, Duck Creek Producer, into the UK and EMEA markets. Initially launched in the US in 2020, the platform enhances insurer-broker relationships and speeds up product distribution. It incorporates extensive user experience research, offering intuitive tools for brokers and insurers. The aim is to improve operational efficiency and increase revenue by streamlining processes for brokers. The launch responds to growing demand in these regions, aiming to help insurers stand out in a competitive marketplace.

Duck Creek Technologies (NASDAQ: DCT) has partnered with Coaction Specialty Insurance Group to transition Coaction’s core policy and billing systems from on-premises to cloud-based solutions using Duck Creek OnDemand. This shift aims to enhance operational efficiency and speed up product development, allowing Coaction to respond more rapidly to customer needs. The deployment will utilize Microsoft’s Azure platform, ensuring scalability and an evergreen technology approach. Leadership from both companies expressed optimism about the partnership's potential to drive innovation and improve customer experience.

Duck Creek Technologies (NASDAQ: DCT) announced it will release its financial results for Q4 and the full year ended August 31, 2022, on October 12, 2022, after market close. A conference call is scheduled for the same day at 5:00 PM ET to discuss the results and business outlook. The call will be accessible via the company's Investor Relations page, with a replay available afterward. Duck Creek positions itself as a leading solutions provider in the P&C insurance sector, enabling agile operations through cloud technology.

Duck Creek Technologies (NASDAQ: DCT) announced an expanded integration with Verisk (NASDAQ: VRSK) to enhance data delivery for insurance quotes aimed at small business owners. The new Anywhere Integration leverages Verisk's Lightspeed® to streamline the underwriting process, providing essential data in seconds. This integration aims to improve profitability and customer service by facilitating quick business binding. Both companies emphasize the importance of data analytics in today's fast-paced market.