{"id":123132,"date":"2023-12-19T08:45:11","date_gmt":"2023-12-19T08:45:11","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=115257"},"modified":"2023-12-19T08:45:11","modified_gmt":"2023-12-19T08:45:11","slug":"duck-creek-technologies-adds-lloyds-of-london-integration-to-its-reinsurance-cloud-platform-2","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/duck-creek-technologies-adds-lloyds-of-london-integration-to-its-reinsurance-cloud-platform-2\/","title":{"rendered":"Duck Creek Technologies Adds Lloyd\u2019s of London Integration to its Reinsurance Cloud Platform"},"content":{"rendered":"

Duck Creek Reinsurance extends its market leading capabilities to support insurance carriers globally<\/h4>\n

LONDON, Dec. 19, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces support for and integration into Lloyd\u2019s Outwards Reinsurance Scheme (LORS) for its ceding reinsurance customers using Duck Creek Reinsurance. Lloyd\u2019s of London demands their members to have robust outwards (ceding) reinsurance strategies with appropriate systems, controls, procedures, and expertise to enable the effective management of outwards reinsurance purchasing and recoveries.\u00a0With this latest functionality,\u00a0Duck Creek Reinsurance<\/a>\u00a0continues to offer global carriers the necessary tools to integrate into the world\u2019s leading reinsurance market.<\/p>\n

The LORS capability within Duck Creek Reinsurance offers all the code sets used in LORS and USM messages, enabling Lloyd\u2019s members and Duck Creek customers to directly connect to and interact with the Lloyd\u2019s technology platform and processes. Duck Creek Reinsurance is equipped with the required data structure to support LORS Outward Reinsurance Advice Message to advise underwriters of transactions which are new, amended, or replaced by brokers, as well as Underwriter Response Messages which are used to advise underwriter authorisations, objections, and data changes. Duck Creek\u2019s LORS integration also will confirm successful batch processing or report errors and will automatically notify insurance carriers regarding ceding movements and processing status. The Duck Creek Reinsurance LORS module includes full audit trail functionality giving insurers the ability to delete pre-authorised items or groups of items where they are in error and to request authorisation for signed items to be cancelled.<\/p>\n

\u201cDuck Creek\u2019s LORS integration demonstrates our commitment to the London reinsurance market. As we build upon over three decades of market-leading reinsurance management capabilities, Duck Creek Reinsurance is delivering the core functionality and innovation to enable global growth for our reinsurance customers,\u201d says Julien Victor, managing director, reinsurance management. \u201cDuck Creek is also involved in the Lloyd\u2019s Blue Print 2 initiative and we are proud to lead the market with cloud-based technology that supports many of the world\u2019s most prominent insurance carriers\u2019 reinsurance programs spanning the London, European, APAC, Bermuda, and USA territories.\u201d<\/p>\n

Duck Creek Reinsurance is a SaaS-based cloud platform that connects with any policy or claims system, data warehouse, and downstream general ledgers to track all the information related to reinsurance contracts (treaties and facultative contracts), claims, accounting data, technical data, auxiliary data, financial data, and more). Duck Creek Reinsurance has built-in reporting and can also connect to popular corporate reporting solutions. Duck Creek Reinsurance is a flexible solution tailored to international organizations using multiple currencies and multiple GAAP requirements.<\/p>\n

About Duck Creek Technologies<\/strong>
\nDuck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a\u00a0full suite<\/a>, and all are available via\u00a0Duck Creek OnDemand<\/a>.<\/p>\n

Visit\u00a0www.duckcreek.com<\/a>\u00a0to learn more. Follow Duck Creek on our social channels for the latest information \u2013\u00a0LinkedIn<\/a>\u00a0and\u00a0Twitter<\/a>.<\/p>\n

Contact<\/strong>
\nDrake Manning
\ndrake.manning@duckcreek.com<\/a><\/p>\n

GlobeNewswire Distribution ID 9006572<\/p>\n","protected":false},"excerpt":{"rendered":"

Duck Creek Reinsurance extends its market leading capabilities to support insurance carriers globally LONDON, Dec. 19, 2023 (GLOBE NEWSWIRE) \u2014 Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces support for and integration into Lloyd\u2019s Outwards Reinsurance Scheme (LORS) for its ceding reinsurance customers using [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31,182,2280,2584,17,53,343,32],"tags":[],"yoast_head":"\nDuck Creek Technologies Adds Lloyd\u2019s of London Integration to its Reinsurance Cloud Platform - Lebanon News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lebanonnewsgazette.com\/duck-creek-technologies-adds-lloyds-of-london-integration-to-its-reinsurance-cloud-platform-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Duck Creek Technologies Adds Lloyd\u2019s of London Integration to its Reinsurance Cloud Platform - 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