DXC Technology recognised as a Leader by ISG in two 2020 reports: ISG Provider Lens™ Insurance BPO Services Report U.S. and ISG Provider Lens™ Insurance BPO Platforms Report U.S.

Insurance companies are outsourcing business processes and new technologies to move faster, become more efficient and launch new businesses, according to the 2020 ISG Provider Lens™ report. U.S. firms are accelerating their adoption of digital technologies as the COVID-19 pandemic disrupts their operations, in many cases turning to business process outsourcing for efficiency, agility and new capabilities.

“The pandemic showed how much insurance companies need agility and modern technology,” said insurance specialist Dennis Winkler, senior director, business services, for ISG Americas and a co-author of the report. “Rather than make big investments in new systems, many are turning to experienced outside providers.”

The capabilities of 18 providers were evaluated by ISG, and DXC was named a leader in all three quadrants of the 2020 ISG Provider Lens™ Insurance BPO Services U.S. Report for Life & Retirement Services, Property & Casualty Services, and Third-Party Administrator (TPA) Services:

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DXC strengths in Life & Retirement Services as noted in ISG Provider Lens™ Insurance BPO Services Report U.S. are:

Vast industry presence: Although the company serves multiple verticals, DXC has a considerable foothold in the insurance industry. The firm is widely recognised as a leader in the field, having worked with insurers since 1985.

Creative partnerships: Insurtechs and startups are using technology in new and different ways and can bring a new perspective to insurance technology. Instead of competing with these often industry-disrupting new market entrants, DXC has realised the value of outside-in innovation and encourages and seeks partnerships with agile insurtechs. These partnerships enable the company to innovate and create cutting-edge solutions. In 2017, DXC began a series of insurtech competitions, known as the DXC Invitational, to find and attract the best and brightest new industry players.

Advanced digital capabilities: DXC’s growing partnerships with insurtechs, combined with its own digital capabilities, enable the provider to come to the table with robust digital transformation capabilities. The firm’s case studies are compelling digital insurance transformation stories.

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DXC strengths in Property & Casualty Services as noted in ISG Provider Lens™ Insurance BPO Services Report U.S. are:

Strong technology platform: DXC helps clients to respond quickly to new market opportunities through its DXC Assure for Property and Casualty solution. It has the capability to provide end-to-end services to companies of all sizes in financial services, from small national insurers to large regionals with implementations across multiple states, supporting a diverse insurance product line portfolio. This offering also has end-to-end processing capabilities such as underwriting using cognitive technology, policy administration, billing, contact center services, compliance and document management.

Intelligent automation platform: DXC’s Intelligent Automation Platform enables the company to quickly implement process automation using artificial intelligence, RPA and other digital technologies to improve customer experience and provide operational efficiency to its BPS customers.

Deep insurance industry expertise: DXC has been in the insurance business for more than 35 years and has decades of P&C insurance domain experience.

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DXC strengths in TPA Services as noted in ISG Provider Lens™ Insurance BPO Services Report U.S. are:

Varied approaches for open versus closed blocks: DXC goes to the TPA market with a combination of technologies that meet the different needs of open- and closed-block TPA customers. The company’s CyberLife and Wealth Management Accelerator, integrate with other technologies to create mature platforms appropriate for closed-block TPA customers. DXC offers its open-block clients a more modern technology approach with its end-to-end DXC Assure Digital Platform{want permission to change this to DXC Assure for Life and Wealth solution}, which includes software, infrastructure and operations and is suitable for customers looking to modernise their legacy platforms and accelerate their go-to-market strategy.

Deep insurance industry domain experience: DXC has more than 35 years of insurance industry experience. The company’s core differentiators are its experience in TPA and the commercial insurance market, which brings a unique aspect to its TPA services.

Strong and balanced delivery model: DXC has offices in 70 countries on six continents, with delivery centers around the world, including hubs in Europe, the Americas and Asia. Six U.S. service centers can deliver services that require analysis and familiarity with local issues, while the offshore centers can deliver services that do not require the same level of interaction and attention.

And, as compared to 19 providers, DXC was named a leader in the 2020 ISG Provider Lens™ Insurance BPO Platforms U.S. Report for Life & Retirement.

DXC is named a leader in the Life & Retirement insurance quadrant for its well-featured DXC Assure for Life and Wealth solution, which features a modular design and extensive ecosystem.

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DXC strengths as noted in ISG Provider Lens™ Insurance BPO Platforms Report U.S. are:

Multichannel system of engagement: DXC’s Assure for Life and Wealth platform is a customer-centric multichannel system of engagement that gives L&R insurers a way to offer customers a fully digital experience and enables them to create personalised journeys, whether for consumer, agent/broker, underwriters and more. The integrated solution combines customer engagement self-service, analytics, AI and other capabilities and gives insurers an easy and affordable option for providing a unified customer experience.

Extensive partner ecosystem: The DXC Assure for Life and Wealth platform features a vast and varied ecosystem with more than 200 partners and insurtechs that bring a slew of differentiated capabilities to insurance organisations in areas like dashboard analytics, robotic process automation (RPA), digital declarations, first notice of loss (FNOL) and event tracking.

Modular design: The platform has a modular design, enabling insurers to choose the capabilities they need and add more in the future. It also works with existing systems to allow insurers to extend their legacy systems with new digital cloud-based capabilities. The platform can be configured based on the customer’s needs and on the core products and services they want to implement in their environment, allowing customers to put their own branding on the offering.