The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk — from natural catastrophes to climate change, from ageing populations to cyber crime.
The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its customers. “Digital transformation is critical to the continued success of Swiss Re,” says Sven Scandella, head of Property and Casualty Business Management IT at Swiss Re. “It’s about automation, stepping up from just keying figures into a system to working with the input.”
The goal, he adds, is to “better understand risks, improve underwriting and pricing, and increase efficiency,” particularly when it comes to processing claims in the wake of a natural disaster.
DXC Technology has been a trusted technology partner with Swiss Re for 25 years. DXC SICS empowers Swiss Re employees in the claims and accounting departments to become intelligence gatherers.
“It supports them in making smart decisions about the products they’re selling and the risks they cover,” Scandella adds.
“Digital transformation is critical to the continued success of Swiss Re.”
Sven Scandella Head of Property and Casualty Business Management IT, Swiss Re
What is DXC SICS?
SICS, which is used by more than 100 DXC customers in 38 countries, is an application that provides comprehensive automation across the reinsurance management life cycle. SICS supports all aspects of a reinsurer’s processing needs, from acquiring new business, through renewals management and accounting, to navigating complexities.
SICS automatically processes information as it comes in digitally, whether that’s through business-to-business arrangements with individual customers, or from an information bureau or another third party.
SICS also supports claims processing and recovery capabilities. Automation of these processes can save time and reduce operational costs, while also providing the activity tracking and reporting necessary to meet regulatory requirements.
Scandella says he appreciates the core capabilities of SICS and the collaborative nature of Swiss Re’s relationship with DXC.
Swiss Re’s goal is to “better understand risks, improve underwriting and pricing and increase efficiency.”
Sven Scandella Head of Property and Casualty Business Management IT, Swiss Re
The ability to customise the software is critical to Swiss Re as it responds to the challenge to continuously innovate. Now, because of the easily configurable nature of the software, business users can quickly implement changes themselves instead of contacting IT to do it for them.
Bottom line: Improved efficiency and customer satisfaction. One key outcome for Swiss Re is the digitisation and automation of their core accounting and claims processes based on SICS.
Scandella says that with this, they have drastically improved turnaround times and customer satisfaction. Beyond these successful efficiency and business improvements, DXC is working closely with Swiss Re and other customers on the functional and technical evolution of SICS, including cloud and software-as-a-service strategy.
“We are always trying to look for the next possible way to do things and not stand still. We always want to progress and do things differently,” says Scandella.
Learn more about DXC Insurance Software.