#Canada #DXC Technology #Toronto #Cloud Services #ivari

Introduction

In a significant advancement for the insurance industry, DXC Technology, a prominent player in technology services, has announced the successful migration of ivari's core life insurance platform to the cloud. This project, revealed at AWS re:Invent, marks a pivotal transformation in ivari’s operations, enhancing its ability to provide services while reducing operational costs.

About DXC Technology and ivari

DXC Technology, trading on NYSE under the ticker DXC, is a Fortune 500 global technology services provider. Its expertise ranges across various sectors, offering innovative solutions that drive industry progress. The collaboration with ivari, a Toronto-based life insurance company that caters to the Canadian market, aims to modernize policy administration systems and improve business process services.

Migration Details

The core of this partnership is the migration of approximately 732,000 insurance policies from ivari's traditional Ingenium policy administration system to the DXC Assure Platform. This initiative is part of a broader multiyear strategy intended to modernize and enhance ivari’s operations by leveraging Amazon Web Services (AWS) for cloud capabilities. Deaning on the Assure platform, ivari can expect improved scalability, resilience, and security, pivotal in today’s fast-paced digital environment.

Benefits Gained

Thanks to this migration, ivari reported a substantial 22% reduction in operating costs within the migration timeframe while still processing 4,500 new applications each month without any business interruptions. Furthermore, ivari successfully launched four new insurance products, indicating a robust and agile response to market needs.

Expert Insights

Scott Gorman, Executive Vice President and COO of ivari, emphasized the necessity of modernization in the rapidly changing life insurance market. He further stated the importance of having a reliable partner like DXC to facilitate this transition smoothly, ensuring minimal disruption for policyholders. “By harnessing the Assure Platform and DXC’s insurance specialization, we are poised to enhance efficiency and speed, providing a robust foundation for future growth,” Gorman added.

Ray August, President of Insurance Software and Business Process Services at DXC, reinforced the success of ivari, stating that it illustrates how insurers can harness existing investments while venturing into cloud technologies.

Future Plans

DXC’s partnership with ivari will not end with this migration. There are plans to convert ivari's legacy surrounding framework systems into DXC standard offerings, further simplifying ivari’s technology ecosystem and enabling better data access. This strategic roadmap is designed to enhance operational efficiency and support ivari’s continued expansion in the life insurance market.

Conclusion

With over 40 years of experience in the insurance sector, DXC Technology continues to be a trusted partner for numerous leading insurers worldwide. The fusion of the Assure Platform with improved processes not only streamlines operations but also opens avenues for innovative products and services. The success of this migration positioning ivari firmly within a cloud-enabled future, ensuring that they remain competitive in an evolving marketplace.

For more details, visit dxc.com.