Duck Creek Technologies (Nasdaq: DCT) announced today that AcordPay, a North American leader in insurance payments technology that provides a suite of payment solutions including ClearPay, a service which enables producers to issue premium payments and to automate reporting to insurers, has joined the provider’s Partner Ecosystem. An Anywhere Enabled Integration with ClearPay, now available on Duck Creek’s Content Exchange, enables insurers to receive premium payments and corresponding reconciliation data and to directly import this into Duck Creek Billing.

 

ClearPay is integrated into major agency management systems, which gives producers the ability to set amounts payable, payment dates, and the ability to electronically approve payments to insurers without leaving their agency management systems. ClearPay delivers remittance advice directly to Duck Creek Billing, and transfers funds on the required date from the designated bank account of the producer to that of the insurer, both for monthly receivables and for one-time payments.

 

“With AcordPay's ClearPay service, agencies and carriers can benefit from end-to-end payment processing,” said Mike Senechal, CEO AcordPay. “This partnership, and this integration, delivers automated payments and reporting between major agency management systems and Duck Creek Billing, making auto-reconciliation a reality, and we are excited to offer the combined power of both systems to our mutual customers.”

 

Duck Creek Billing enables P&C carriers to offer flexible billing and payment choices based on evolving customer needs. Whether offering single pay for a homeowners’ policy, pay-as-you-go for workers’ compensation, or a multi-installment plan for commercial policies, Duck Creek Billing provides the tools needed to configure customer-focused, equity-friendly plans. Duck Creek Billing accelerates speed to market, enhances operational effectiveness, and enables carriers to get back to what they do best: selling insurance.

 

“This integration eliminates the tedious process for an insurer of manually reconciling all producer payments, while simultaneously reducing handling time and posting errors,” said Elizabeth Del Ferro, Vice President of Partner GTM at Duck Creek Technologies. “With this assurance of payment from producers, insurers can also improve their ability to forecast cash flows. AcordPay offers a highly valuable service to our mutual customers, and we are delighted to welcome them into our Partner Ecosystem.”