COUNTRY Insurance & Financial Services Selects Duck Creek Technologies' Rating Engine.Business Editors BOLIVAR, Mo.--(BUSINESS WIRE)--Sept. 17, 2002 COUNTRY implements one-stop rating environment with fast, flexible, and self-maintainable rating - enabled by Duck Creek's EXAMPLE Platform(TM) Product Suite Duck Creek Duck Creek may refer to:
Please [ improve this article] or discuss the issue on the talk page. has selected Duck Creek Technologies' EXAMPLE Platform Product Suite (EXAMPLE Author(TM), EXAMPLE Server(TM)) for their commercial lines rating engine. The Duck Creek rater rat·er n. 1. One that rates, especially one that establishes a rating. 2. One having an indicated rank or rating. Often used in combination: a third-rater; a first-rater. is integrated with the Castek Insure Insure can mean:
in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. integration standards. The first product to be implemented in the new Duck Creek/Castek environment is the COUNTRY business owners' product (BOP), with implementation on track for production use in November, 2002. All remaining COUNTRY commercial lines are planned for implementation and rollout throughout 2003. The Duck Creek rating engine enables the COUNTRY Actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin Services area to self-maintain rates, incorporate changes and distribute rates and rate changes effectively throughout the enterprise. Future plans include the use of the Duck Creek solution's Internet capabilities to empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems agents and customers to easily receive and analyze premium comparisons on a self-service, anywhere, anytime basis. The combination of Castek and Duck Creek solutions provides COUNTRY with a true best-of-breed solution to meet both their current and future needs as they expand lines of business and increase market share through additional company alliances. Gary L. Shay shay n. Informal A chaise. [Back-formation from chaise (taken as pl. )] Noun 1. , CPCU CPCU Chartered Property Casualty Underwriter CPCU Cardiac Progressive Care Unit CPCU Custody Pending Completion of Use , Manager of Special Projects for COUNTRY, noted, "Our goal was to provide one-stop shopping for rating with a common rater regardless of policy administration system. The Duck Creek rating tool not only provides the common rating environment, but also offers the flexibility and ease-of-use that COUNTRY was searching for. With Duck Creek's rater, our Actuarial Services group is able to maintain the rates, apply rate changes, and easily distribute rates and changes - all without the involvement of the IT organization required with traditional raters - translating to faster time to market and faster responsiveness to our distribution channels and ultimately our customers." Mr. Shay continued, "We believe that innovative and quality products combined with an exemplary level of service mean increased market share and competitive advantage for COUNTRY. The Duck Creek solution not only supports our current requirements, but will also address future Web expansion." Wendy Corman, Vice President of Business Development, Duck Creek Technologies, noted, "We are extremely pleased to announce that COUNTRY has selected the Duck Creek EXAMPLE Platform Suite for their rating needs. This project has been a real team effort with the COUNTRY staff as well as the integration effort with Castek. With the combined project team focused on the COUNTRY objectives, we are all keeping our `eye on the prize' - success for COUNTRY, their agents, and their customers! We look forward to continuing our close working relationship with COUNTRY as they implement new products and expand their Internet capabilities." About COUNTRY Insurance & Financial Services COUNTRY(SM) Insurance & Financial Services offers a full range of insurance and financial products and services from auto, home and life insurance to investment management services and mutual funds. COUNTRY products are offered in 31 states. For further information, visit http://www.countryfinancial.com . About Castek Castek develops core insurance-business processing systems for large and mid-sized property and casualty insurance carriers. Castek's Insure3 (TM) (insure cubed) suite of insurance-business processing systems includes insurance product and process configuration, policy processing, and claims management. For more information, visit www.castek.com or call 1-866-9CASTEK. About Duck Creek Technologies Duck Creek Technologies enables insurance carriers and other participants in the insurance distribution process to define and develop rating, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , and other policy-related services for deployment to all points on the product value chain. The company was founded in January 2000, and is based in Bolivar, Missouri Bolivar is a town in Polk County, Missouri, USA. The population was 9,143 at the 2000 census. It is the county seat of Polk CountyGR6. The town was named for Bolivar, Tennessee, home to many of the original settlers. , with a sales office in Burlington, Connecticut Burlington is a town in Hartford County, Connecticut, United States. Situated at the foot of the Berkshires and bordering the Farmington River, Burlington is a scenic hill town, rural in nature, located 20 miles west of Hartford. . For more information, visit http://www.duckcreektech.com or call 866-DUCK-TEC. All trademarks appearing in this news release are the property of their respective owners. |
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