DXC Technology Company [NYSE: DXC]: Building the Digital Insurance Era

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Mike Lawrie, President, Chairman & CEO, DXC Technology Company [NYSE: DXC]Mike Lawrie, President, Chairman & CEO During the late 1950s, computer analysts Roy Nutt and Fletcher Jones formed CSC, a company providing computer manufacturers with complex programs including compilers, and operating systems. Later after few years, CSC grew rapidly to serve governments and enterprises worldwide. Through the histories, CSC is known for evolving to keep pace with the ever-changing world of technology and for offering clients a fresh perspective built on a rich heritage of innovation and industry-leading services. Today, the strategic combination of CSC and Hewlett Packard Enterprises creates the world’s leading independent, end-to-end IT services company— DXC Technology Company— on April 1, 2017. DXC Technology is uniquely positioned in the industry to lead digital transformations creating higher value for clients, shareholders, and partners, while presenting new growth opportunities for its people. Formed by the merger of CSC and Hewlett Packard Enterprise division, DXC Technology boasts a long and proud history of innovation. Mike Lawrie serves as chairman, president, and CEO of DXC Technology. Lawrie previously served the same position at CSC, where he focused on transforming the company into a leading global IT services company. Today, Lawrie is driving DXC Technology to success with around $25 billion in annual revenues and nearly 6,000 clients in more than 70 countries.

DXC Technology has successfully guided some of the world’s largest enterprises and government agencies. With some 130,000 employees worldwide, the company’s deep experience gives it a bright and confident vision to help clients navigate the future of technology. The company works to create greater value for clients, partners, and shareholders, and to present growth opportunities for its people and is ranked among the world’s best corporate citizens.

Bringing Digital Insurance as a Service

The world in which insurance companies do business is changing; empowered consumers, innovative competitors and new technologies are rapidly reshaping the industry landscape. DXC understands that insurers face complex imperatives that demand comprehensive transformation. As the world’s largest provider of core insurance systems with the industry’s broadest software portfolio DXC brings products, practices and services to help insurers meet the growing market requirements and challenges. The company provides advanced systems, designed by the most industry-savvy business analysts and architects in the world, in compliance with industry standards and supported by a secure, integrated infrastructure. Its insurance software and service portfolio includes end to end software insurance platforms, policy administration offerings, policy administration, billing, configuration and management solutions.

DXC provides next generation technology independent solutions to every segment of the global insurance market with a dynamic model of innovative services and technology

DXC Technology’s Digital Insurance as a Service (DIaaS), an integrated, end-to-end solution seamlessly bundles together a set of insurance applications, business process services and infrastructure into a single solution—a consumption-based approach to digital insurance transformation. With DXC’s DIaaS, insurers can launch simplified, consumer-oriented life products quickly and deliver a streamlined digital customer experience. “DXC platform allows clients to integrate many of their digital projects into the existing IT infrastructure. Its been one of the impediments of clients being able to scale these often successful digital projects which then enables the enterprise to digitally transform,” explains Mike Lawrie, Chairman, President and CEO, DXC Technology Company.

Meanwhile, DXC Insurance OmniChannel addresses insurer's needs for a personalized user experience (UX) across multiple channels — including web, and mobile form factors, voice assistant engagement as well as chatbot interaction. The solution is available in the cloud as software as a service (SaaS) and includes an API gateway, an ops management framework and identity and access management (IAM) security. The solution integrates with back-end systems of systems such as policy administration and claims processing, analytics, customer relationship management (CRM) and a broad range of services from DXC’s partner ecosystem. Further, based on its deep industry experience and heritage in the core systems software business, DXC’s reference APIs provide true extensibility. As a result, insurers can easily extend the platform, tailor it, and build out their customer engagement functionality without changing or disrupting the underlying core capability of the platform. The APIs are focused on interaction and provide businesses the ability to engage with customers and deliver a delightful user experience. DXC Insurance OmniChannel supports a responsive web design GUI that runs seamlessly on multiple devices while providing support for text, voice or chatbot.

A Consumption-Based Approach to Digital Insurance Transformation

The company’s proven approach developed over 4 decades is driven by industry experts and an unmatched eco system of world-class partners. DXC provides next generation technology independent solutions to every segment of the global insurance market with a dynamic model of innovative services and technology. These include the company’s industry leading solutions. DXC clients include 85 percent of the world’s top insurance companies. They have transformed a global multiline insurer enabling its moves to agile practices while cutting costs by 30 percent and transformed back office operations from 100 percent paper to 95 percent electronic for the world’s largest and specialty global hub. Across the globe, DXC is leading the insurance industry on its digital transformation journey to bolster growth and improve customer experience.

We deliver integrated solutions with world-class insurance platforms backed by fantastic security.

With DXC's innovative capabilites, its insurance clients are building a digital future with a wealth of opportunities to rapidly create innovative products, and deliver the level of service today’s sophisticated buyer expects. Leveraging its unrivaled knowledge of legacy operations and technologies, DXC can help insurers grow digitally, boost efficiency and accelerate speed to market. The company has 19,00 customers, and are in over 70 countries around the world with a wide partner ecosystem. “Digital innovation is the lifeblood of business today, and that’s why DXC Technology partners with industry leaders to deliver new and better outcomes at scale for our clients,” adds Lawrie.

As the insurance market has changed, to remain competitive, and grow its broker channels as a mid-tier player, the Belgian-based company Fidea needed to be one of the most accessible insurance companies in the market. To achieve these objectives, Fidea partnered with DXC Insurance OmniChannel because of the multiline functionality of DXC’s GraphTalk policy administration system. DXC and Fidea worked in a co-development environment to fill the company’s requirements for general insurance, and critical systems to support life insurance business. DXC performed a variety of operations to build the carrier’s entire IT landscape, including workf low and systems integration. Moreover, DXC also established general ledger, business analytics and printer/document management solutions, and provided hosting services.

"DXC platform allows clients to integrate many of their digital projects into the existing IT infrastructure"

The DXC Insurance OmniChannel platform available in the cloud as software as a service (SaaS) exposes the API to be used by a third-party application fully integrated with Fidea back-end systems. This platform could also be integrated with customer relationship management (CRM), analytics and a broad range of other services from DXC’s partner ecosystem. The solution enables consumers, insurers, vendors, adjusters and other personae-derived participants to interact, share services and data, and participate in their part of the insurance process. All the while, Fidea can accelerate purchasing and claims resolution cycles with the end-to-end digital workf lows and straight-through processing. According to the company, since the implementation of DXC Insurance OmniChannel, it has seen substantial growth in the volume of broker requests.

Ensuring Innovation with Perfection

As with all of DXC’s business practices, the team always ensure to keep its diversity and inclusion initiatives to be as transparent as possible.

As part of its evolution plans, the company recently expanded its presence in data center co-location services by signing a long-term managed co-location services agreement with Credit Suisse. Concurrently, DXC, through its data center co-location services subsidiary, will acquire a New Jersey data center from Credit Suisse. DXC also expanded its presence in Asia by in association with Sime Darby Berhad. As part of the agreement, DXC will acquire Sime Darby Global Services Centre (SDGSC), the captive in-house provider of its HR, Finance & Accounting and IT services.

- Aaron Pierce
    May 21, 2019