This NelsonHall Vendor Evaluation & Assessment Tool (NEAT) report analyzed the performance of 8 vendors offering property & casualty (P&C) insurance operations transformation services. Leaders are defined as “vendors that exhibit both a high capability relative to their peers to deliver immediate benefit and a high capability relative to their peers to meet future client requirements.”
NelsonHall has named DXC technology a Leader in its NEAT vendor evaluation for P&C Operations Transformation in five distinct categories: Overall Performance, Claims Administration, Customer Administration, New Product Set-up and Underwriting.
Identifying DXC as a Leader in the Overall Performance category reflects DXC’s ability to deliver immediate benefits to its P&C clients, as well as meet future requirements. See chart below.
Following are excerpts from the report.
Overview
DXC's P&C insurance business covers personal, commercial, specialty, and Lloyd’s of London. It provides P&C insurance carriers with BPS, BPaaS, software platforms, and technology solutions. It delivers services across new product setup, underwriting, broker management, customer service/administration, claims administration/processing, and subrogation for personal and commercial insurance.
Strengths
- The ability to develop and offer software and software platforms that can deliver business process services alongside the applications
- DXC Assure platform to entail all areas of P&C lifecycle (e.g., policy, claims, brokering)
- Consistently reviewing third-party capability to identify the latest and most advanced technology, DXC will partner if it lacks the necessary built-in ability or if the existing capability is not developed enough
- DXC’s innovation community is utilized to enhance core functionality by incorporating new capabilities based on customer feedback and promptly addressing any ongoing issues
- Presence in the London market and ongoing work with Blueprint 2.0.
Strategic Direction
DXC positions itself by providing software platform, BPS, and advisory services to address critical challenges clients face in the P&C landscape. Over the next 12-18 months, DXC’s top three focus areas for R&D based on feedback from its active customer community are:
- AI
- Cloud foundation
- Customer-focused product advancements.
DXC continues to support multiple types of policies, help carriers increase speed to market with new products, improve customer experience with self-service capabilities that include AI, and reduce overall cost to the carrier.
DXC is completing UX improvement efforts for all software applications to speed workflow across P&C BPS segments. The intended outcome of this UX improvement is to improve response time from the system and ease users in entering underwriting information to provide quotes more quickly.
Outlook
Through its innovation community, DXC is leveraging its existing customers and partnerships to advance its offerings and upgrade existing clients with newer versions of the DXC Assure platform. DXC has also accelerated its efforts in the London market to expand its footprint with the Blueprint 2.0 initiative.
A key element to expanding their footprint into various markets is to include an advisory consulting component within BPS engagements to add value to client engagements. Exploring this concept could lead prospective clients to adopt more BPS offerings that may not have been previously considered in parallel with software applications.
Look for DXC to leverage its technology stack to assist clients in transitioning from legacy platforms to more advanced digital media while keeping cost and customer experience at the forefront of all engagements. This includes providing the appropriate integration strategy, componentized digital solutions on the cloud, and API-enabled tools for clients to leverage and optimize business core operations.
Learn more about The DXC Assure suite for property and casualty.