DCT Industrial Stock Price, News & Analysis

Duck Creek Technologies (NASDAQ: DCT) announced a partnership with DataOne Software, integrating their solutions to enhance the consumer experience in the property and casualty insurance industry. This collaboration allows insurance carriers to access accurate vehicle details through Duck Creek's Content Exchange, improving policy document accuracy and user personalization. DataOne's tools, including VIN decoding and vehicle images, will serve major dealer direct service providers and personal auto carriers in North America, aligning with Duck Creek's commitment to exceptional customer service.

Duck Creek Technologies (NASDAQ: DCT) announced the appointment of Jess Keeney as Chief Product Officer on April 11, 2022. Keeney brings 15 years of B2B product experience, previously holding roles at ZoomInfo Technologies and UKG, where she led product and engineering teams. CEO Mike Jackowski expressed enthusiasm for Keeney's innovative and customer-oriented approach, which is expected to enhance Duck Creek's product vision.

Duck Creek delivers core system solutions to the property and casualty insurance sector through its OnDemand platform.

Tractable has announced its partnership with Duck Creek Technologies (Nasdaq: DCT) to integrate AI solutions for enhancing the insurance claims process. The integration aims to streamline claims with faster processing and improved accuracy by using computer vision to assess auto damage through photos. Duck Creek customers will gain access to Tractable's innovative tools, including AI Triage and AI Review, which promise better efficiency for insurers. This collaboration positions Duck Creek at the forefront of technology in the insurance sector, focusing on customer experience.

Duck Creek Technologies (DCT) reported second quarter fiscal 2022 revenue of $76.4 million, growing 22% year-over-year. Subscription revenue increased 29% to $39.6 million. The company's GAAP loss from operations narrowed to $0.4 million from $6.4 million the previous year, while Non-GAAP income rose to $6.6 million. Adjusted EBITDA reached $7.3 million, a significant increase from $3.0 million. Looking ahead, DCT projects third quarter revenue between $71.0 million and $73.0 million, signaling continued growth.

Athenium Analytics has teamed up with Duck Creek Technologies (DCT) to provide natural hazard risk scores, aiding insurers in managing climate risks across the U.S. This collaboration, starting this month, offers insurers access to Athenium's proprietary risk scores via the Duck Creek Content Exchange. These risk scores encompass various perils like floods and hurricanes, derived from extensive historical climate data. Athenium aims to equip insurers with actionable insights for improved underwriting and enhanced climate resilience.

Duck Creek Technologies (DCT) has appointed Shreyas Vasanthkumar as Managing Director for EMEA, responsible for driving growth in the region. Previously at Hexaware Technologies, he brings 19 years of experience, particularly in digital transformation for insurance and financial sectors. COO Eugene Van Biert expressed confidence in Vasanthkumar’s ability to enhance Duck Creek’s client base. Vasanthkumar highlighted the competitive landscape for insurers in EMEA and the importance of local expertise for accelerating market presence.

Duck Creek Technologies (NASDAQ: DCT) announced that EMC Insurance Companies has selected its Distribution Management SaaS solution to enhance relationships with agents and agencies. This decision is driven by the platform's extensive functionality, allowing EMC to modernize its agency management systems. The tool aims to optimize producer relationships and streamline operations. EMC's senior VP highlighted the importance of this investment in driving growth, while Duck Creek's VP emphasized their commitment to supporting EMC's digital transformation and improving operational efficiency.

Duck Creek Technologies (Nasdaq: DCT) announced the winner of its first Hatch-a-thon at Formation ’22, recognizing LTI for developing a solution to streamline insurance quoting using AI and Duck Creek APIs. The event attracted 36 teams and aims to foster innovation in the P&C insurance industry. LTI's award included a $1,000 donation to the Ukrainian Red Cross Society. The Hatch-a-thon encourages partners to enhance the Duck Creek platform while addressing operational challenges within the insurance sector.

Duck Creek Technologies (Nasdaq: DCT) announced a partnership with Philadelphia Insurance Companies (PHLY) to launch a new line of commercial insurance products in North America. This collaboration utilizes Duck Creek's OnDemand software-as-a-service solutions for rapid deployment in the commercial sector. This partnership aims to meet the demands of the small commercial market by providing scalable, extensible insurance offerings with enhanced customer experience.