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Press release content from PR Newswire. The AP news staff was not involved in its creation.
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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Safekeep, Inc Announces Partnership with Duck Creek Technologies

October 12, 2021 GMT

NEW YORK, Oct. 12, 2021 /PRNewswire/ -- Safekeep, an award-winning insurtech that uses AI to maximize net recovery through its Claims Profitability Platform, announced today that it has partnered with Duck Creek Technologies (Nasdaq: DCT) to enhance the claims experience for insurers and policyholders alike. An integration between Safekeep and Duck Creek Claims will give insurers the ability to detect and score subrogation opportunities, as well as streamline the subrogation referral and investigation processes as early as First Notice of Loss.

This partnership will enhance subrogation referral quality, both in speed and potential, prevent leakage resulting in missed opportunities, and improve claims handlers’ efficiency and capacity.

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Jeff To, Founder and CEO of Safekeep, says, “Safekeep is proud to partner with Duck Creek to offer intelligent claims mining capabilities to P&C insurers. We are excited to deliver meaningful impact on combined ratios through best-in-class recovery, subrogation, and salvage. Duck Creek offers the flexible platform on which we could rapidly get insurers up and running to unlock profit potential in their structured and unstructured claims data.”

Safekeep has partnered with global top-tier commercial lines carriers and insurtechs across all segments and lines of business. Safekeep leverages proprietary machine learning models as well as patented semantic search capable Natural Language Processing, Entity Resolution, and statutory rules-based automation to ingest claims files and drive profitability. Safekeep identifies the true extent of subrogable opportunity, automates the end-to-end recovery workflow, and increases dollar net recoveries, thereby reducing costs and improving loss-ratios. Safekeep is also able to pursue recoveries on a carrier’s behalf.

“To help insurers improve their combined ratios with automated solutions, it is critical to align with partners that employ the most modern technologies,” said Elizabeth Del Ferro, Vice President of Partner GTM at Duck Creek Technologies. “Safekeep’s proprietary solutions make them an excellent choice for insurers of all sizes in all lines of business, and Duck Creek is happy to welcome them into our rapidly-growing partner ecosystem.”

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About Safekeep Inc.
Safekeep applies AI to meaningfully increase carrier profitability, and ultimately make policyholders happy. Safekeep’s Claims Profitability Platform leverages machine learning, NLP, Entity Resolution and rules-based automation to maximize profitability, reduce costs, and improve combined ratios. Safekeep serves tier 1 carriers as well as insurtechs in work comp, property, auto, and general liability insurance in commercial and personal lines. Safekeep is a top 10 Insurtech Insights Future50 company, Zurich Global Gold Award Winner and Efma-Accenture Global Silver Award Winner. To learn more, visit safekeep.com.

About Duck Creek Technologies
Duck Creek Technologies (Nasdaq: DCT) is a leading provider of core system solutions to the P&C and General insurance industry. By accessing Duck Creek OnDemand, the company’s enterprise Software-as-a-Service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek’s functionally-rich solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.

DUCK CREEK CONTACT:
Paul Rechichi, Racepoint Global
prechichi@racepointglobal.com

SAFEKEEP CONTACT:
Gabriel Weiss, Co-Founder & Chief Customer Officer
gabriel@safekeep.com

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SOURCE Safekeep