Duck Creek Technologies, a global provider of intelligent solutions for the property and casualty and general insurance industry, has launched its Payments Marketplace, a payments ecosystem designed for insurers.
The Payments Marketplace integrates with established payment providers to facilitate end-to-end payment management for carriers.
Duck Creek has also announced a partnership with Paymentus, a provider of digital payment solutions, to simplify integration for insurers.
This collaboration brings significant payment volume to the Payments Marketplace. Together, Duck Creek and Paymentus will support several global top 10 insurance carriers and large regional insurers.
The Payments Marketplace utilizes the Duck Creek Payments Orchestrator, reducing payment integration timelines to one to two weeks, compared with the typical nine to 18 months required for direct integrations.
The Payments Orchestrator connects insurers to payment technologies and providers for collections and payouts, regardless of existing IT infrastructure.
“Duck Creek continues to innovate with the launch of our Payments Marketplace, which represents a major leap forward in insurance technology and delivers security-focused, seamless payment processing for carriers and their customers,” said Allan Lacoste, chief payments officer at Duck Creek Technologies. “Through strategic partnerships with industry leaders like Paymentus, we're building a robust ecosystem that empowers carriers with both payment flexibility and reliability.”
The Payments Marketplace provides continuous updates, redundancy measures and an improved customer experience. It ensures compliance with security standards and compatibility with Duck Creek’s SaaS core systems.
“Through our partnership with Duck Creek, we can deliver our best-in-class electronic billing and payment solutions to a larger, more global customer base,” said Jerry Portocalis, chief commercial officer of Paymentus. “Together, we’ll realize our common goal to simplify payments for carriers and help them deliver the best customer experiences for their customers.”
Duck Creek Technologies provides solutions for the P&C and general insurance industry, offering cloud-based platforms to support modern insurance operations. Its solutions are available as standalone products or as a full suite through Duck Creek OnDemand.
