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The firm’s Indian subsidiary indicators its first full-suite buyer partnership within the area with HDFC ERGO
Mumbai, Aug. 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies India LLP, a subsidiary of Duck Creek Technologies, as we speak introduced a historic milestone with its enlargement into the Indian normal insurance coverage market. Duck Creek Technologies India LLP now gives India-based insurers the benefit, comfort, and energy of contemporary cloud-based software-as-a-service (SaaS), delivered as a full suite of capabilities or as stand-alone options. With this enlargement, Duck Creek reinforces its market dedication by establishing its knowledge middle in India, supported by practically 1,000 native staff.
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Speaking concerning the partnership, Sriram Naganathan, President and Chief Technology Officer, HDFC ERGO General Insurance, stated, “As a leading insurer of the country, at HDFC ERGO, it has been our priority in adopting innovative technologies to address the evolving demands of our customers and offer them an enhanced customer experience. Being a digital insurer of scale, our partnership with Duck Creek Technologies India LLP is a crucial step towards unlocking the full potential of HDFC ERGO’s wide insurance solutions and enabling us to offer efficient delivery and more convenience for our customers. Duck Creek’s SaaS solution will empower our advanced AI/ML models, providing essential digital capabilities to meet the critical needs of our customers and partners.”
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Rohit Bedi, Chief Revenue Officer, Duck Creek Technologies, acknowledged, “Our commitment to HDFC ERGO aligns with their outstanding vision to make insurance easier, more affordable, and more dependable for all the people in India. We are extremely proud to be a partner to HDFC ERGO, India’s leading insurance brand, in their journey to transform general insurance services in the region.” Bedi added, “This is a significant milestone in Duck Creek’s continued growth as a leading SaaS choice for insurers worldwide. Duck Creek’s partnership with HDFC ERGO is another proof point that our global technology solutions are geared towards enabling a more modern and efficient insurance enterprise.”
“Duck Creek is truly excited to enter the Indian insurance market with our global solutions. We want to empower insurance companies in India with hyper-personalized insurance solutions that help customers buy or service insurance from any device and anytime. Customers from all parts of India can feel secure knowing they are covered and can raise claims anytime,” stated Shaji Sethu, Managing Director APAC, Duck Creek Technologies.
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The Indian insurance coverage market was valued at $127 billion in 2021 ($30 billion, represented within the non-life sector). It is anticipated to develop to over $200 billion by 2027, which presents an thrilling alternative for Duck Creek.
About HDFC ERGO
HDFC ERGO General Insurance Company Limited was promoted by erstwhile Housing Development Finance Corporation Ltd. (HDFC), India’s premier Housing Finance Institution and ERGO International AG, the first insurance coverage entity of Munich Re Group. Consequent to the implementation of the Scheme of Amalgamation of HDFC with and into HDFC Bank Limited (Bank), considered one of India’s main personal sector banks, the Company has change into a subsidiary of the Bank. HDFC ERGO is the second largest non-life insurance coverage firm within the Private Sector as on 31st March 2023 based mostly on gross premium garnered. A digital-first firm, remodeling into an AI-first firm, HDFC ERGO is a pacesetter in implementing know-how to supply clients the best-in-class service expertise. The firm has created a stream of progressive & new merchandise in addition to companies utilizing applied sciences like Artificial Intelligence (AI), Machine Learning (ML), Natural Processing Language (NLP), and Robotics. HDFC ERGO gives a spread of normal insurance coverage merchandise and has a totally digital gross sales course of with ~94% of retail insurance policies issued digitally. HDFC ERGO’s know-how platform has empowered the purchasers to avail 69% of the companies digitally on a 24×7 foundation with ~19% of the shopper requests serviced by Artificial Intelligence-based instruments. In FY23, the corporate has issued 1.22 crore insurance policies and has settled ~50 lakhs claims. The Company has an lively knowledge base of 1.5+ crore clients. HDFC ERGO is current in 496 districts of the nation by their 215 branches, 10,000+ staff and 1.8 lakhs brokers and channel companions.
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HDFC ERGO gives a whole vary of General Insurance merchandise together with Health, Motor, Home, Agriculture, Travel, Credit, Cyber and Personal Accident within the retail area together with Property, Marine, Engineering, Marine Cargo, Group Health and Liability Insurance within the company area. Be it distinctive insurance coverage merchandise, built-in customer support fashions, top-in-class declare processes or a bunch of technologically progressive options, HDFC ERGO has been in a position to delight its clients at each touch-point and milestone to make sure shoppers are serviced in real-time.
About Duck Creek Technologies
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