Specialty and standard insurer Crum & Forster, which previously announced it is embarking on an infrastructure modernization effort, confirmed this week it will deploy Accenture Duck Creek Policy Administration software, with the intention of helping the carrier scale for growth. Crum & Forster will use the software as a major component of its rating and policy processing system for commercial lines, specialty lines and workers' compensation. According to an Accenture press release, the new system will enable Morristown, N.J.-based Crum & Forster to "quickly and easily launch and maintain products, and increase operational efficiencies by streamlining policy administration processes."
[Accenture's Gino B. DiGregorio and Charity McGill analyze the potential benefits of automated underwriting in 12-Point Checklist for Automated Underwriting.]
Crum & Forster will also use Accenture Duck Creek Templates, a pre-configured insurance product deployment solution for Insurance Services Office (ISO)-based commercial lines and National Council on Compensation Insurance (NCCI)-based workers' compensation products. The templates will enable the rapid implementation and maintenance of these lines of business, according to Accenture.
"As our business continues to expand, we need a new system with advanced technology to help us scale up for growth," said Nicole Bennett, CIO, Crum & Forster, in a press release. "We selected Accenture Duck Creek software because it will enable us to easily support and configure all of our lines of business on a single platform. Giving our lines of business configuration capabilities will allow us to react faster to market changes with updated products and better service."
"We are pleased to be working with Crum & Forster and supporting their growth initiatives," said Michael A. Jackowski, global managing director of Accenture Software for P&C insurance. This initiative, he added "will allow them to provide an enhanced user experience for both underwriters and agents."