Suncorp Group has formed a strategic alliance with Duck Creek Technologies to overhaul its insurance operations with cloud-based, low-code technology.
The partnership is part of Suncorp’s broader initiative to enhance its digital capabilities and modernise its systems, targeting improved operational efficiency and customer experience across its Australian and New Zealand markets.
The multi-year agreement includes the deployment of Duck Creek’s policy administration, billing, and data analytics platforms, collectively aimed at replacing Suncorp’s aging on-premises systems. This transition supports Suncorp’s objective of simplifying processes and delivering more personalised, data-driven services.
Lisa Harrison, Suncorp’s chief executive consumer insurance, said that upgrading the company’s systems will drive both innovation and efficiency.
“Modernising our core insurance platforms will help us deliver innovative and affordable customer propositions, simplify and streamline our operations, and importantly enable our people,” she said.
Suncorp said the decision to collaborate with Duck Creek followed a thorough procurement process.
Harrison highlighted the technology provider’s proven expertise and capacity to align with Suncorp’s long-term goals.
“Through a rigorous RFP process, we selected Duck Creek as it has a proven track record both globally and locally,” she said. “This is a multi-year program designed to roll out new capabilities in a safe, smart, and efficient way.”
The collaboration will also involve an integration partner, supported by dedicated leadership teams and oversight mechanisms to manage the rollout.
Duck Creek’s modular OnDemand platform is designed to reduce product development timelines, with enhancements to automation and data usage enabling faster decision-making and streamlined operations.
According to Christian Erickson, Duck Creek’s managing director for the Asia-Pacific region, the partnership reflects shared ambitions to redefine customer value in insurance.
“Suncorp is pushing the boundaries of insurance innovation. They appreciate that they’re not in the business of just insuring assets, but of delivering confidence and better experiences and outcomes for their policyholders,” he said.
He added that the platform will allow Suncorp to innovate at a faster pace and adapt to changing market demands.
“Our policyholder-centric solutions are designed to equip Suncorp to overcome any technological obstacles and refocus resources toward delivering new innovative customer propositions and experiences,” Erickson said.
Suncorp’s partnership with Duck Creek to upgrade its systems spotlights calls for insurtech collaboration in Australia and New Zealand.
Deloitte’s recent report suggested that insurance companies should team up with insurtech firms to spur growth and address industry challenges.
However, as technology adoption accelerates in the Australian insurance sector, Lockton Australia has cautioned insurance companies to balance innovation with robust risk management strategies.
Lockton noted that while digital tools are becoming essential for competitiveness, they introduce risks like data breaches, outages, and operational missteps. These risks can disrupt business processes and affect both financial results and brand reputation.
