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DXC Technology Launches Assure Smart Apps for Insurance

In today's fast-paced insurance landscape, the need for agility and efficiency has never been more critical. DXC Technology has made a significant move in this direction with the introduction of their new Assure Smart Apps, designed to accelerate the AI-driven transformation process for insurers. Unveiled at the DXC Connect Insurance Executive Forum, these applications are aimed at streamlining workflows and reducing operational complexities within the insurance sector.

Addressing Industry Challenges

Insurers are currently facing various challenges, including rising customer expectations, regulatory complexities, and an increasingly competitive environment. Many are still hindered by outdated legacy systems and fragmented data processes, which contribute to inefficiencies and slow response times. Traditionally, addressing these issues would necessitate lengthy and costly restructuring efforts, often taking years to yield tangible results. DXC's Assure Smart Apps are tailored to support gradual modernization without disrupting core systems or requiring extensive investments in time and resources.

Features of Assure Smart Apps

Developed in collaboration with clients, the Assure Smart Apps offer modular, pre-designed, AI-driven workflows that promise business advantages within just twelve weeks or even less. This innovative approach enables insurers to reduce manual processes by 30-40%, while also cutting down cycle times by approximately 30%. Here are a few highlights of these new applications:

1. Claims Assistant: This app streamlines the entire claims lifecycle, ensuring compliance with regulations while minimizing the need for manual interactions and system switches. It significantly reduces claims processing times, achieving faster payouts and enhancing the overall policyholder experience.

2. Engagement Assistant: By modernizing customer interactions across various channels—voice, digital, and back-office—this app automates service tasks, boosts agent productivity, and provides real-time insights into customer sentiment and compliance, ultimately increasing customer satisfaction by 5-15%.

3. Underwriter Assistant: Designed to enhance the underwriting experience, this app automates application acceptance, prioritizes tasks, and guides decision-making through a cohesive and transparent workbench, allowing existing policy systems to remain intact.

A Collaborative Innovation Environment

At the DXC Connect Insurance Executive Forum, DXC showcased its Assure Smart App Studio, a collaborative space where clients can present ideas for potential Smart Apps. The engineers at DXC displayed their swift prototyping capabilities by creating new AI agents overnight, demonstrating how agility and innovation can go hand in hand in the insurance sector.

A Commitment to Innovation

DXC Technology, with over 40 years of industry experience, has positioned itself as a reliable partner for 21 of the world’s top 25 insurers. By merging its extensive knowledge of the insurance industry with ServiceNow’s agent-based AI and workflow technologies, DXC is redefining the possibilities in the insurance business. Ray August, President of DXC Insurance Software and Business Process Services, noted that the Smart Apps were inspired by the need for clients to embrace incremental transformation. The aim is to improve technology infrastructure without disrupting day-to-day operations while achieving measurable business outcomes.

Conclusion

DXC Technology stands at the forefront of insurance transformation, leveraging AI to foster innovation and operational efficiencies. The Assure Smart Apps not only facilitate quicker adaptation to market changes but also empower insurers to deliver better services to their customers in a more efficient manner. As the industry continues to evolve, DXC remains committed to driving meaningful change that benefits both insurers and policyholders alike.

For further details about the Assure Smart Apps, visit DXC Technology's official site.