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DXC Technology's Bold Moves in Intelligent Insurance

In a significant move for the insurance industry, DXC Technology (NYSE: DXC), a prominent player in enterprise technology and innovation, has unveiled its latest strategic initiatives designed to transform the insurance landscape. Announced at the DXC Connect Executive Insurance Forum in London, these initiatives focus on the modernization of critical operations, productivity enhancement, and integration of Artificial Intelligence (AI). With over 275 clients already adopting its Assure Platform, DXC is poised to redefine the future of insurance.

Addressing Industry Demands

As the insurance sector faces mounting pressures to modernize rapidly and unlock fresh opportunities with AI, DXC's President of Insurance Software and Business Process Services, Ray August, notes the urgency for companies to evolve without disrupting their existing systems. DXC’s holistic approach, encapsulated within its “Protect, Extend, Transform” strategy, emphasizes the importance of a governed implementation of AI in insurance practices. This strategy not only aids in the transformational journey but also ensures that insurers maintain essential oversight and accountability.

Assure Platform Enhancements

DXC is continuously enhancing its Assure Platform to provide a secure and governed foundation for innovation in the insurance space. The platform integrates various services, including Smart AI capabilities, to streamline operations and bolster resilience. Among the newest features is the Assure Configuration Manager, which simplifies the configuration and deployment of business components, allowing insurers to quickly adapt to changing conditions and operational demands.

With this efficient deployment approach, carriers can now introduce new capabilities swiftly, facilitating accelerated access to automation and connected services that align with their strategic priorities.

Streamlining Insurance Workflows

To facilitate operational modernization, DXC is expanding its capabilities through Assure Smart Apps. These applications aim to automate routine tasks and enhance data utilization throughout the insurance lifecycle, including customer interactions, policy management, underwriting, and claims processing.

Since the initial launch a year ago, DXC has welcomed 18 new Smart Apps clients, collectively servicing over 450 insurers. As a result, the adoption of the Assure platform has surged, with more than 750,000 automated transactions completed, denoting a scale of efficiency never before seen in the insurance sector. The Smart Apps initiative is already operational in DXC's Life & Wealth BPS managing a staggering 11 million policies and processing financial transactions exceeding $11 billion annually.

Supporting the London Market

Focusing specifically on the London market, DXC has committed to enhancing its services with the integration of Assure Platform capabilities alongside the London Market Core Platform (LMCP). This strategic combination is aimed at improving operational security, connectivity, and visibility across critical workflows.

Through the deployment of Assure Architecture and a tailored Workflow Assistant, DXC is modernizing essential workflow processes to improve task management throughout the London market, ensuring that operational continuity and resilience are maintained.

Conclusion

DXC Technology stands at the forefront of a pivotal transformation in the insurance industry. By marrying robust technological advancements with strategic market investments, DXC not only helps insurers navigate the complexities of modernization but also empowers them to leverage AI responsibly and strategically. With a firm commitment to innovation, the future of intelligent insurance looks promising, driven by the ingenuity and expertise of DXC Technology.

For media inquiries, contact Melanie Gorski at DXC Technology.