#USA #DXC Technology #ServiceNow #Insurance #Ashburn, Virginia

Transforming the Insurance Industry with AI

In an era where innovation drives success, DXC Technology (NYSE: DXC) has taken a significant step alongside ServiceNow (NYSE: NOW) to enhance the insurance landscape. This collaboration aims to merge advanced software with artificial intelligence capabilities, targeting the distinct challenges that insurance providers face today.

A Competitive Edge through Partnership

As elite partners, DXC and ServiceNow leverage their respective strengths to create the new 'Assure BPM' (Business Process Management) powered by ServiceNow. This initiative intends to provide insurers with modern tools tailored to boost operational efficiency and improve customer satisfaction ratings.

The urgency for insurance companies to reinvent their workflows arises from the need to streamline operations, accelerate growth, and respond rapidly to customer needs. Yet, traditional practices often encumber these goals due to outdated processes and heavy manual workflows.

Recent insights from HFS Research reveal that nearly 45% of insurers are already investing in aligning their technological capabilities across various operational sectors—front, middle, and back offices. This shift is not merely a trend but a crucial strategy for survival and growth in the industry.

Revolutionizing Operational Efficiency

The introduction of DXC Assure BPM brings a comprehensive solution capable of transforming the entire insurance policy lifecycle—from underwriting to claim management. This innovative approach integrates AI, data, and workflow technologies to effectively reduce operational inefficiencies by up to 40%, particularly in areas requiring tedious manual processing.

Ray August, president of insurance software and business process services at DXC, emphasized the partnership's potential, stating, "We are committed to delivering exceptional value to our clients and achieving better operational outcomes. Our expanded partnership with ServiceNow combines our extensive insurance expertise with cutting-edge AI-based workflow technology to drive speed, agility, and operational transformation within the insurance sector."

On the other side of the partnership, Erica Volini, executive vice president of global industries at ServiceNow, added, "The combination of AI and ServiceNow's workflow capabilities with DXC's industry knowledge has the potential to alter insurance processes in unprecedented ways. Collectively, we are accelerating transformation processes among operators, infusing greater agility and speed into every operation."

Key Features of Assure BPM

Available immediately, the Assure BPM solution is tailored to support the entire lifecycle of insurance policies, including management, billing, new business processing, underwriting, and claims management. Here are some of its standout features:

• - Pre-configured Workflows: Built on over four decades of DXC's expertise in insurance, complemented by ServiceNow's AI and workflow technologies.
• - Integrated Security and Applications: Fully integrated with DXC’s Assure Platform to ensure optimal security and seamless connections with numerous DXC insurance applications.
• - AI-Powered Customer Portal: A self-service portal that enhances customer interaction by providing faster, more precise responses to inquiries.
• - Enhanced AI Capabilities: Capable of automating back-office policy management, freeing resources to focus on innovation and customer service, thus improving overall efficiency.

Looking Ahead

For more information on how DXC Assure BPM powered by ServiceNow can reshape your insurance experience, visit DXC’s official website.

With the insurance sector evolving rapidly due to technological advancements, this partnership sets the stage for an exciting future, driving innovation and efficiency across the entire industry. As DXC Technology and ServiceNow forge ahead, the insurance companies that embrace these changes will be well-positioned to thrive in an increasingly competitive landscape.