Duck Creek Services: Modernization Strategies to Prevent Core Commoditization – Services PEAK Matrix™ Assessment 2018
As insurers are embarking on their digital transformation journey, core modernization has become a key requisite to enable their digital strategy. Insurers are looking at third-party consulting and System Integration (SI) partners to help them simplify their modernization journey by adopting products such as Duck Creek, and at the same time avoiding the trap of a commoditized core to ensure building a differentiated digital experience. Insurers are looking at partners with deep understanding of the insurance domain and specific core products, along with a strong suite of accelerators that help them enable better time-to-market.
In order to respond to this challenge, Duck Creek services providers are investing in building add-on solutions/accelerators on top of Duck Creek products to help integrate analytics and IoT capabilities, and demonstrate a better product understanding to build market credibility and trust. Service providers are aggressively looking to invest in cloud hosting and support offerings, as insurers look to embrace cloud for their core business. They are also looking to bring thought leadership and strategic thinking to better position themselves as partners for change in insurers’ digital transformation agenda.
In this research, we analyzed the capabilities of nine leading Duck Creek services providers, specific to the global Property & Casualty (P&C) insurance sector. These providers were mapped on the Everest Group PEAK Matrix, which is a composite index of a range of distinct metrics related to each provider’s vision & capability and market impact. In this report, we focus on:
- The landscape of service providers in the Duck Creek services market
- Assessment of the service providers on several capability-related dimensions
- Characteristics of Leaders, Major Contenders, and Aspirants on the Everest Group Duck Creek Services PEAK MatrixTM
- Implications for insurance buyers and service providers
This report is available to members.