Duck Creek Technologies, a provider of SaaS core systems for the P&C insurance industry, has acquired Risk Control Technologies, Inc. (RCT), a Toronto-based provider of risk management and loss control solutions.
According to the announcement, this strategic investment is set to transform how insurance carriers prevent loss and manage risk, enabling deployment of advanced AI and machine learning capabilities at the forefront.
“As the world faces increasing risks—whether from climate change, cyber threats, or other emerging challenges—having advanced tools to manage these exposures is crucial. Risk Control is a leader in not only identifying potential loss, but preventing it through preemptive risk mitigation,” said Mike Jackowski, Chief Executive Officer of Duck Creek Technologies.
He continued: “In addition to sharing Duck Creek’s core values, Risk Control’s leadership and team members bring a wealth of insurance knowledge and experience. Together, we will help insurers work closely with their policyholders to prevent losses, improve safety and better prepare for the future.”
The RCT RiskHub platform will enhance the Duck Creek SaaS suite of insurance technology products, thereby augmenting Duck Creek’s capacity to improve underwriting precision, optimise claims processes, and decrease overall risk exposure.
Integrating RCT’s solution with Duck Creek Technologies platform will empower insurance carriers with robust predictive capabilities.
This integration is to enable comprehensive risk management during underwriting, optimising an efficient and seamless policy and claims management process.
David Da Costa, Chief Executive Officer of Risk Control Technologies, commented: “Being part of Duck Creek Technologies will strengthen our goal to help carriers optimise and increase risk-data coverage across their entire business.
“We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry and help insurers strengthen their customer engagements and drive impactful operational efficiencies. We look forward to this new chapter and the enhanced capabilities we can now offer to the market as part of the Duck Creek family.”
RCT’s industry-leading loss control and risk assessment platform will be seamlessly integrated with Duck Creek’s comprehensive suite of products to enable data-driven decisions for all stakeholders to improve proactive risk mitigation.
Murali Natarajan, Senior Vice President and Chief Information Officer of West Bend Mutual Insurance, stated: “I’m confident that the combined strengths of Duck Creek and Risk Control, two of our most trusted partners, will bring enhanced capabilities and innovative solutions to the market to bolster risk management and loss control.
“We look forward to the positive impact this integration will have on our underwriting process, ultimately benefiting our business and customers.”
