More: See inside new downtown Des Moines federal courthouse, expected to open next summerĪccording to its news release, EMC received about $180 million in annual premiums from reinsurance, representing about 10% of the company's total business. "While an extremely difficult position, EMC felt this move was necessary to position the company for the future and the achievement of its strategic plans and goals," CEO Scott Jean said in a statement. The company said the affected employees will lose their jobs in waves next year, starting Jan.
The company declined to say how many of those positions are in central Iowa, where half of EMC's 2,200 U.S. The Des Moines-based insurer announced in a news release Tuesday that executives have decided to exit the reinsurance segment, costing 65 workers their jobs. will cut some jobs next year as it ends a line of business. For more information, visit Insurance Cos.
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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. 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. For more information, visit .ĭuck Creek Technologies (Nasdaq: DCT) is a leading provider of core system solutions to the P&C and general insurance industry. EMC is licensed in all 50 states and the District of Columbia. Today, operating under the trade name EMC Insurance Companies, the company provides property and casualty and life insurance products and services throughout the United States and writes reinsurance contracts worldwide. Employers Mutual Casualty Company (EMCC) was organized in 1911 to write workers’ compensation protection in Iowa. “Our team is proud to support EMC as it moves forward with its digital transformation and adoption of evergreen SaaS technology, and to provide the solutions and expertise it needs to accelerate its success.”ĮMC Insurance Companies has more than 2,400 employees and is among the top 60 property and casualty insurance organizations in the country based on net written premium. “To help carriers ensure that relationships remain productive, Distribution Management empowers sales managers and field representatives to create differentiated onboarding experiences, build targeted performance and incentive plans, and nurture producers with timely and valuable information,” said Prasad Boppana, VP of Product Management for Distribution Management at Duck Creek Technologies. “Distribution Management offers us the tools we need to better manage our producers in a SaaS environment, and also allows us to enhance relationships with our independent agent partnerships,” said Joe Riesberg, EMC Senior Vice President – Chief Information Officer. “Duck Creek Distribution Management digitally transforms operations and enhances experiences by automating a number of activities, and we look forward to using this critical functionality as we grow and expand our reach.” As a modern SaaS application, Distribution Management digitally transforms workflows to increase business agility, streamline operations, and ensure continuous compliance. Duck Creek Distribution Management’s depth and breadth of functionality were cited as major factors in EMC’s decision to modernize its agency management systems.ĭuck Creek Distribution Management is a modern producer relationship management system that enables insurers to tailor all aspects of the producer lifecycle to attract, retain, increase productivity, and build trust with agents, brokers, MGAs, and other intermediaries. Boston, Ma(GLOBE NEWSWIRE) - Duck Creek Technologies (NASDAQ: DCT) announced today that EMC Insurance Companies has selected Duck Creek Distribution Management, a software-as-a-service (SaaS) solution offered via Duck Creek OnDemand, to optimize relationships with the agents and agencies that represent the carrier.
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