Summary
- Duck Creek Technologies has filed to raise $300 million in an IPO.
- The firm provides software and services to Property & Casualty insurance companies.
- DCT is growing revenue, is generating positive operational cash flow and the IPO appears reasonably priced, so is worth considering.
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Quick Take
Duck Creek Technologies (DCT) has filed to raise $300 million from the sale of its common stock in an IPO, according to an amended registration statement.
The company provides property & casualty insurance companies with improved policy, billing and claims software workflows.
DCT is producing accelerating growth, positive operational cash flow, has strong interest from investors and a reasonable IPO price, so the IPO is worth a close look.
Company & Technology
Boston, Massachusetts-based Duck Creek was founded to develop an online platform that provides P&C insurance carriers with software to improve their operational efficiencies for policy administration, claims management and billing functions.
Management is headed by Chief Executive Officer Mr. Michael Jackowski, who has been with the firm since August 2016 and was previously a managing partner at Accenture and held several positions at insurance carrier The Allstate Companies (ALL).
Below is a brief overview video of the use of AI in claims decisions:
