#USA #Boston #Reinsurance #Duck Creek #Fortegra

Fortegra Partners with Duck Creek Technologies for Strategic Growth

In a significant move to enhance its operational efficiency and expand its global reach, Fortegra, a prominent global specialty insurer, has selected Duck Creek Technologies as its official partner for financial transformation. This collaboration is set to modernize Fortegra's financial systems through Duck Creek's innovative solutions, Duck Creek Reinsurance and Duck Creek Clarity.

As Fortegra aims to solidify its position as the underwriter of choice for specialized insurance, the partnership with Duck Creek is pivotal in driving its growth strategy. The integration of Duck Creek's technology is anticipated to modernize the company’s financial operations, improve portfolio transparency, and accelerate closing cycles, thereby supporting Fortegra’s diverse product offerings across various regions and distribution models.

Objectives of the Partnership

Fortegra's decision to collaborate with Duck Creek is rooted in its mission to advance its finance transformation initiative. Notably, Fortegra is focused on strengthening its reinsurance capabilities to effectively manage portfolio complexity and scale. To that end, Fortegra has established a dedicated reinsurance accounting team. The selection of Duck Creek Reinsurance aims to streamline financial and operational processes, fortifying risk management while providing clearer visibility across reinsurance activities.

Ed Peña, Fortegra's Chief Financial Officer, expressed the significance of this implementation, stating, "This journey marks a critical milestone in our finance transformation. By enhancing our data quality and analytics, we will gain deeper insights into performance drivers, evaluate our reinsurance strategies, and expedite our financial closing processes. Duck Creek's robust reinsurance capabilities and experienced team played a vital role in this decision."

The partnership promises to yield numerous benefits, including:

• - Modernization of financial systems tailored to support operational scale.
• - Enhanced transparency across the reinsurance portfolio.
• - A reduction in manual processes through increased automation and accelerated closing cycles.
• - Improved integration between core functions and data sources.
• - Supportive measures for expansion across diverse lines of business and regions.

Commitment to Operational Excellence

With Fortegra placing a strong emphasis on its 'people first' approach and thoughtful expansion strategies, Duck Creek's Chief Operating Officer, Chris McCloskey, underscored the excitement surrounding the partnership. He noted that Duck Creek Reinsurance and Clarity would facilitate increased operational efficiency and valuable insights, enabling Fortegra to navigate risk with confidence as they expand globally.

About Fortegra

For over 45 years, Fortegra has provided tailored risk management solutions through its diverse portfolio of insurance products and warranty solutions. As a multinational specialty insurer, Fortegra's subsidiaries hold an A.M. Best Financial Strength Rating of A- (Excellent), reflecting their robust financial stability and service capabilities. The company continues to innovate and expand, ensuring that it meets the unique needs of its clients.

About Duck Creek Technologies

Duck Creek Technologies stands at the forefront of the property and casualty insurance industry, delivering intelligent solutions that empower insurers to leverage the full potential of the cloud. With a commitment to authenticity and transparency, Duck Creek’s comprehensive suite of solutions can be utilized independently or as a cohesive framework, furthering the advancement of insurance operations.

Through this partnership, Fortegra and Duck Creek are not only enhancing their operational frameworks but also setting a precedent for how technology can drive growth in the insurance sector amidst evolving market dynamics. This collaboration promises to support Fortegra's continued success as a key player in the insurance industry, offering reliable and specialized insurance solutions worldwide.