Duck Creek Technologies, a leading global provider of software solutions for the property and casualty insurance industry, has announced its acquisition of Risk Control Technologies (RCT), a Toronto-based firm specializing in risk management software. The financial terms of the deal were not disclosed.
The acquisition will see RCT’s signature platform, RiskHub, fully integrated into Duck Creek’s suite of software-as-a-service (SaaS) offerings. This integration is aimed at improving underwriting accuracy, streamlining claims management, and reducing overall risk exposure for insurers.
David Da Costa, CEO of Risk Control Technologies, expressed enthusiasm about the acquisition: “Joining Duck Creek Technologies strengthens our mission to help insurance carriers optimize and expand risk-data coverage across their operations. We are eager to collaborate with Duck Creek to deliver cutting-edge technology that will revolutionize the insurance industry, enhance customer interactions, and drive significant operational efficiencies.”
Industry experts have weighed in on the impact of the merger. Murali Natarajan, senior vice president and chief information officer at West Bend Mutual Insurance, highlighted the benefits for insurers: “The combined strengths of Duck Creek and Risk Control, two trusted partners, will bring new capabilities and innovative solutions to the market, boosting risk management and loss prevention efforts. We are excited to see how this integration will positively influence our underwriting processes, ultimately benefiting both our business and our customers.”
Duck Creek CEO Mike Jackowski underscored the importance of advanced risk mitigation tools, particularly as insurers face growing challenges from climate change, cyber threats, and other emerging risks. “Risk Control is not only a leader in identifying potential losses but also in preventing them through proactive risk mitigation strategies,” Jackowski said.
He added, “Beyond aligning with Duck Creek’s core values, Risk Control brings deep insurance knowledge and expertise. Together, we will work with insurers to prevent losses, improve safety, and better prepare for the challenges ahead.”
The acquisition is expected to significantly enhance Duck Creek’s ability to provide comprehensive risk management solutions, positioning the company as a stronger partner for insurers worldwide.
