Duck Creek Pioneers the Next Era of Cloud-Based Technology for P&C Insurers Through Microsoft Azure OpenAI Service

Incorporating Azure OpenAI Service and using Duck Creek’s low-code platform empowers insurers to modernize responsibly

BOSTON, Nov. 16, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces a breakthrough initiative in collaboration with Microsoft. This collaboration is poised to empower insurers to reimagine their businesses by facilitating smoother implementation processes and faster speed to market through the aid of generative artificial intelligence (AI)—a transformative technology that enables the creation of innovative applications and low-code solutions.

Duck Creek’s comprehensive platform is built on Microsoft Azure, the preferred technology for harnessing the power of Azure OpenAI Service, as large language models (LLMs) continue to redefine and shape the technology landscape. This represents a significant leap forward in the insurance sector, fostering innovation and efficiency that promises to influence how insurers conduct their business and engage with customers. By merging Duck Creek’s expertise in insurance solutions with the cutting-edge capabilities of Microsoft, this collaboration aims to create a brighter and more agile future for the entire insurance industry.

“Generative AI is a truly transformative technology, and our valued customers will benefit immensely from its powerful capabilities as we continue to drive the modernization of the insurance industry. Our objective is to empower insurers to innovate products faster and assist employees with AI tools,” said Mike Jackowski, Chief Executive Officer, Duck Creek Technologies. “This marks the next chapter in the evolution of our longstanding partnership, where we are pioneering in the space by uniting the exceptional talent of Microsoft and Duck Creek to develop cutting-edge technology solutions for the P&C and general insurance industries. In doing so, we are committed to spearheading the insurance industry’s embrace of generative AI and solving the innovation challenges insurers face—all while upholding the highest standards of regulatory compliance and ethical responsibility.”

Duck Creek is harnessing this emerging technology to curate innovative solutions for insurers, helping them embrace the future of technology with:

  • Copilot solutions powered by near-real-time data, which empowers insurers to make informed decisions and respond to changing market conditions swiftly and effectively.
  • Enhanced productivity tools that improve efficiency and productivity throughout the insurance ecosystem, designed to benefit consumers, agents, underwriters, and claim adjusters.
  • The next era of low-code configurator tools that simplify the development and adoption of insurance products, enabling insurers to expedite their time-to-market for both new and ongoing configurations.

“Duck Creek will continue advancing how it brings responsible AI to the insurance industry and enables a rapid business transformation toward humanized experiences,” said Jess Keeney, Chief Product & Technology Officer, Duck Creek Technologies. “We are consistently assessing how our solutions can more seamlessly integrate into our customers’ operational landscapes, and we are dedicated to delivering meaningful outcomes and addressing significant business challenges. Both Duck Creek and Microsoft share a common dedication to enhancing the customer journey across the entire insurance lifecycle. This marks a significant evolution in how underwriters leverage consumer data and conduct risk analysis, the efficiency of claims handling, fraud detection, and the industry’s ability to meet customer needs and adapt to feedback promptly.”

“Innovative insurers want to move quickly to use the power of generative AI to drive demonstrable business value,” said Bill Borden, CVP for Worldwide Financial Services at Microsoft. “We’re excited to deepen our collaboration with Duck Creek to deliver new generative AI-powered capabilities to help our joint insurance customers drive marked improvements in employee productivity, reinvent customer engagement, and bend the curve on innovation – both securely and responsibly.”

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Media Contacts:
Carley Bunch
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8980331

Émissions de méthane : un enjeu de taille pour l’industrie pétrolière et gazière

LONDRES, HOUSTON et SINGAPOUR, 15 nov. 2023 (GLOBE NEWSWIRE) — Les émissions de méthane demeurent l’enjeu principal de l’industrie pétrolière et gazière. Selon le dernier numéro du rapport Horizons publié par Wood Mackenzie, la COP 28 pourrait constituer un jalon clé de la prise d’engagements envers la réduction des émissions de méthane. Entreprises et gouvernements devront ainsi adopter des mesures fermes et respecter de nouvelles exigences en ce sens.

Le méthane est responsable d’environ 30 % de la hausse de la température moyenne mondiale depuis le début de l’ère industrielle. L’industrie pétrolière et gazière serait responsable de près d’un quart des émissions de ce gaz provenant de l’activité humaine (source anthropique), selon le rapport intitulé « Mission invisible : relever le défi du méthane dans l’industrie pétrolière et gazière ».

Selon l’outil d’analyse comparative des émissions de Wood Mackenzie, les pertes de méthane distinctives par secteur sont faibles, et représentent moins de 500 kilogrammes par heure (soit environ 0,0184 million de mètres cubes par jour), un volume inférieur à la résolution mesurable de la plupart des satellites actuels. Cependant, près de 96 % de l’ensemble des secteurs rejettent des émissions de cette ampleur, ce qui en données consolidées rend le problème conséquent. Les plus fortes émissions en provenance de secteurs de taille supérieure se répartissent le plus souvent sur plusieurs sites de production, ce qui les rend plus difficiles à quantifier.

Et le rôle du Gouvernement ?
D’après le rapport, l’action gouvernementale jouera un rôle essentiel dans le pilotage des efforts de réduction. Trois mesures phares visent à stimuler les démarches :

  1. De l’ambition. L’application d’une politique raisonnable serait un bon début, telle qu’une collaboration mondiale pour mettre fin aux émanations provoquées par le torchage et le dégazage à grande échelle.
  2. De la cohérence. Les décideurs politiques et les régulateurs doivent travailler main dans la main avec les acteurs de l’industrie pour établir des objectifs réalistes et dresser le calendrier de réduction des émissions, tout en veillant à la juste application de pénalités et d’amendes et à la correction des failles.
  3. Des subventions en faveur de la technologie. Les gouvernements peuvent apporter une aide financière pour optimiser à la fois les outils de mesure et les solutions de réduction. Les États-Unis montrent l’exemple avec la promulgation d’une loi sur la réduction de l’inflation (ou Inflation Reduction Act – IRA) régissant la mise à disposition d’une enveloppe de 350 millions de dollars aux fins de la surveillance et de la réduction des émissions de méthane.

Kevin Baxter
+44 330 124 9400
Kevin.Baxter@woodmac.com

Vivien Lebbon
+44 330 174 7486
Vivien.lebbon@woodmac.com

Mark Thomton
+1 630 881 6885
Mark.thomton@woodmac.com

Hla Myat Mon
+65 8533 8860
Hla.MyatMon@woodmac.com

The Big Partnership (agence de relations publiques britannique partenaire)
woodmac@bigpartnership.co.uk

À propos de Wood Mackenzie
Wood Mackenzie est le spécialiste mondial des énergies renouvelables, de l’énergie et des ressources naturelles. Les données sont notre force. Mise en œuvre par les hommes et les femmes. En pleine révolution énergétique, les entreprises et les gouvernements ont besoin d’informations fiables et exploitables pour mener à bien la transition vers un avenir durable. C’est pourquoi nous intervenons sur l’ensemble de la chaîne d’approvisionnement avec une ampleur et une profondeur inégalées, grâce à plus de 50 ans d’expérience dans le domaine des ressources naturelles. Aujourd’hui, notre équipe rassemble plus de 2 000 experts au cœur de 30 sites répartis dans le monde entier, qui s’efforcent de guider nos clients dans leurs prises de décision grâce à des analyses effectuées en temps réel, à une approche conseil, à des manifestations et du leadership éclairé. Ensemble, nous leur transmettons les données dont ils ont besoin pour distinguer les risques des opportunités et arrêter de saines décisions au bon moment. Pour en savoir plus, rendez-vous sur woodmac.com.

GlobeNewswire Distribution ID 1000899674

As emissões de metano continuam sendo um desafio de difícil solução no setor de petróleo e gás

LONDRES, HOUSTON e CINGAPURA, Nov. 15, 2023 (GLOBE NEWSWIRE) — O metano continua sendo um grande desafio para o setor de petróleo e gás. A COP28 pode ser um momento marcante para os compromissos de redução de metano, e será necessário que as empresas e os governos tomem medidas firmes para reduzir as emissões e impor novos padrões, de acordo com um novo relatório Horizons da Wood Mackenzie.

O metano é responsável por quase um terço do aumento das temperaturas globais induzido pelas emissões desde o início da era industrial, e estima-se que o setor de petróleo e gás seja responsável por até um quarto das emissões de metano causadas pelo homem (antropogênicas), de acordo com o relatório Mission invisible: tackling the oil and gas industry’s methane challenge (Missão invisível: enfrentando o desafio do metano do setor de petróleo e gás).

De acordo com a Emissions Benchmarking Tool (Ferramenta de Benchmarking de Emissões) da Wood Mackenzie, as perdas típicas de metano por campo são pequenas – menos de 500 quilogramas por hora (cerca de 0,65 milhão de pés cúbicos por dia), o que está abaixo da resolução mensurável da maioria dos satélites atuais – mas cerca de 96% de todos os campos têm emissões nessa escala, o que torna o problema grande e cumulativo. As emissões mais significativas de campos maiores geralmente estão espalhadas por várias instalações de produção, o que dificulta a quantificação.

Função do governo
De acordo com o relatório, a ação do governo será vital para os esforços de redução, e há três ações de alto nível que podem estimular o progresso:

  1. Maior ambição. Uma política implementável e aplicável seria um começo positivo, como, por exemplo, a colaboração global para acabar com toda a queima e ventilação em larga escala.
  2. Fiscalização consistente. Os formuladores de políticas e os órgãos reguladores devem colaborar com o setor para definir metas e cronogramas realistas para as reduções de emissões e, ao mesmo tempo, garantir que as taxas e multas sejam cobradas adequadamente e que as brechas sejam eliminadas.
  3. Apoio financeiro para tecnologia. Os governos podem apoiar o financiamento para melhorar a tecnologia de aferição e as soluções de redução. Por exemplo, como parte da Lei de Redução da Inflação (Inflation Reduction Act, IRA) dos EUA, US$ 350 milhões em financiamento estão disponíveis para monitorar e reduzir as emissões de metano.

Kevin Baxter
+44 330 124 9400
Kevin.Baxter@woodmac.com

Vivien Lebbon
+44 330 174 7486
Vivien.lebbon@woodmac.com

Mark Thomton
+1 630 881 6885
Mark.thomton@woodmac.com

Hla Myat Mon
+65 8533 8860
Hla.MyatMon@woodmac.com

The Big Partnership (agência de RP do Reino Unido)
woodmac@bigpartnership.co.uk

Sobre a Wood Mackenzie
A Wood Mackenzie é a consultoria de visão global para energias renováveis, energia e recursos naturais. Orientada por dados. Movida por pessoas. No meio de uma revolução energética, as empresas e os governos necessitam de visões confiáveis e viáveis para liderar a transição para um futuro sustentável. É por isso que cobrimos a cadeia de suprimentos completa com amplitude e profundidade sem precedentes, apoiados por uma experiência de mais de 50 anos em recursos naturais. Atualmente, nossa equipe de mais de 2.000 especialistas opera em 30 localidades no mundo todo, inspirando as decisões dos clientes por meio de análises em tempo real, consultoria, eventos e influência especializada no setor. Juntos, fornecemos as informações necessárias para diferenciar o risco da oportunidade e tomar decisões ousadas nos momentos mais importantes. Para obter mais informações, acesse woodmac.com.

GlobeNewswire Distribution ID 1000899674

Navigating the Right to Be Forgotten in the Digital Age

Africa – The right to be forgotten, a concept allowing individuals to request the removal of their personal information from online platforms, is gaining traction globally.

According to World Economic Forum, this right, while not universally recognized, is increasingly being debated and implemented in various countries.

Emergence of the Right to Be Forgotten

Originally established in the European Union, the right to be forgotten allows people to request organizations to delete their personal data under specific conditions, such as when the data is outdated or offensive. This concept arose from a 2010 case where a Spanish national successfully sought to have Google remove outdated legal information about him.

Global Adoption and Variations

The right to be forgotten is part of the EU’s General Data Protection Regulation (GDPR) introduced in 2014. A 2019 ruling limited Google’s obligations to apply this right only within the EU. However, the concept is spreading beyond Europe, with recent developments in Canada and Japan recognizing similar rights.

Criteria for Data Erasure

The right to be forgotten applies to individuals, not organizations, and hinges on certain criteria. In the EU, these include the data no longer being necessary for its original purpose or the individual withdrawing consent. However, requests can be denied if the data is used for public interest, freedom of expression, or public health purposes.

Companies Responding to Data Removal Requests

Search engines like Google and social media platforms are increasingly receiving requests for data removal. For example, X (formerly known as Twitter) reported receiving an average of over 250 requests per day for data removal in the latter half of 2021.

Balancing Rights and Responsibilities

There is a delicate balance between the right to be forgotten and freedom of expression. Critics warn that this right could be misused to cover up illegal activities or human rights violations. Moreover, as AI and large language models evolve, new challenges arise in how to ensure data erasure from these complex systems.

Efforts to Tackle Harmful Online Content

The World Economic Forum’s Global Coalition for Digital Safety focuses on addressing harmful online content. The coalition, comprising public and private sector members, has developed Global Principles on Digital Safety to promote cooperation in creating a safe digital environment.

Making a Request for Data Removal

Individuals wishing to have their data removed can make requests verbally or in writing, depending on the jurisdiction. The EU offers a template for such requests, and companies like Google and X have established online request forms to facilitate this process.

The right to be forgotten is evolving as a significant facet of digital rights and privacy, reflecting the complexities of managing personal data in an increasingly digital world.

Rwanda Embarks on Major Electricity Network Project for Ngororero District

Ngororero – Rwanda has commenced construction of a 1,300.7 km long electricity network in the Ngororero district, aiming to provide power to over 24,000 households. The project, estimated to cost Rwf 27 billion, marks a significant step in enhancing electricity access in the region.

According to Africa News Agency, the initiative is a part of Rwanda’s broader efforts to expand electrical infrastructure and improve energy access across the country. This ambitious project is expected to significantly benefit local communities by providing them with a reliable power supply, which is crucial for both residential and economic activities.