This custom report presents the findings of the NelsonHall NEAT vendor evaluation for Property and Casualty (P&C) Operations Transformation in all market segments: New Business Setup/Underwriting Capability, Customer/Distribution Service Administration Capability, and Claims Administration Capability. It contains the NEAT graphs of vendor performance, a summary vendor analysis of DXC for P&C operations transformation, and the latest market analysis summary.
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DXC Technology provides insurance-specific services across the Enterprise Technology Stack, including business process services and insurance software. DXC’s capabilities were positioned as a Leader in:
- New Business Setup/Underwriting Capability
- Customer/Distribution Service Administration Capability
- Claims Administration Capability
NEAT Evaluation: P&C Operations Transformation (New Business Setup/Underwriting Capability)
NelsonHall has identified DXC as a Leader in the New Business Setup/Underwriting Capability market segment. This market segment reflects DXC’s ability to meet future client requirements as well as delivering immediate benefits to its P&C clients with specific capability in new business setup and underwriting.
Leaders are 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.
“Exerting a powerful combination of experience and innovation using its software and services, DXC is a leader in each of the three categories of operations transformation in property and casualty insurance. In addition, DXC continues to expand its global delivery model by investment in IP and international talent development and skilling.”
– John Willmott, CEO, NelsonHall
NEAT Evaluation: P&C Operations Transformation (Customer/Distribution Service Admin Capability)
NelsonHall has identified DXC as a Leader in the Customer/Distribution Service Administration Capability market segment. This market segment reflects DXC’s ability to meet future client requirements as well as delivering immediate benefits to its P&C clients with specific capability in customer/distribution service administration.
NEAT Evaluation: P&C Operations Transformation (Claims Administration Capability)
NelsonHall has identified DXC as a Leader in the Claims Administration Capability market segment. This market segment reflects DXC’s ability to meet future client requirements as well as delivering immediate benefits to its P&C clients with specific capability in claims administration.
“Helping our insurance customers transform operations to meet the requirements of today’s digital consumer is a top priority for our global teams. These leadership designations from NelsonHall recognise our deep expertise in new business set-up, underwriting, customer/distribution service and claims administration.”
– Ray August, President, Insurance Software and Business Process Solutions, DXC Technology
Overview (excerpted from the NelsonHall NEAT evaluation for DXC Technology)
DXC provides services to insurance carriers that enable them to achieve their business outcomes and efficiently transform operations. In 2021, DXC reported ~1,900 insurance clients across its health insurance, life insurance, annuities, reinsurance, and P&C insurance subsegments. Of these, NelsonHall estimates DXC has ~850 P&C clients.
Its software products across the insurance value chain for the various subsegments are built upon the DXC Assure Digital Platform, a cloud-enabled, microservice-constructed solution. Additions and adjustments are made to tailor AI, ML, and RPA capabilities within the platform for each of its insurance subsegments.
DXC has over 40 years’ experience working with global P&C carriers, covering personal, commercial, and specialty lines. It offers a full suite of software products and related services within the DXC Assure portfolio, along with comprehensive Business Process Services (BPS), including insurance-specific BPaaS and SaaS model engagements.
DXC is investing in expanding its partner and insurtech ecosystem to provide further comprehensive services to P&C carriers.
Strengths
- Collaborative partnership with Mosaic Insurance, building an innovative digital-first insurtech platform for specialty lines. This provides Lloyd's capacity to globally dispersed underwriting hubs and expands digital capability portfolio
- Development of gamification tools in talent retention/ engagement/ development, with the long-term goal to offer to P&C carriers
- Comprehensive offerings through IP, services, and partnered solutions provided through SaaS, BPaaS, and BPS model engagements
- Published REST APIs to facilitate partner integration for clients' systems
- Investment in DXC Assure Digital Platform with globally relevant capabilities in compliance and regional regulations
- IBM Watson visual recognition and insurance knowledge base enabling DXC platforms' decision engines in quote generation and claims administration
- Analytics-as-a-Service offering
- DXC exerts a powerful combination of experience and innovation using its software and services.
Strategic Direction
DXC continues to expand its global delivery model by investment in IP and international talent development and skilling. DXC relaunched its brand in 2021 with a new logo, website, and messaging and a greater focus on insurance software and BPS. DXC's strategy continues to be digital-first to improve carriers' customer engagement, improve operational efficiency, and enable growth. This strategy is supported by DXC's continued internal development of digital solutions and continued investment in relationships with technology firms and insurtechs.
Additionally, DXC expands digital capabilities through its invitationals with insurtechs, DXC COEs, and carrier customer focus groups.
Outlook
DXC continues to develop its proprietary platform and related solution suite to offer enhanced digital capabilities for P&C service offerings. In conjunction with the internal development of digital tools, DXC continues to expand and establish relationships with insurtechs and technology firms to further develop the digital portfolio provided to carriers. Expect to see an expanding insurtech collaboration with Mosaic Insurance, bringing to market new solutions and policy models in specialty insurance, and a renewed push by DXC to demonstrate and market its capabilities as an experienced software and services provider in the insurance industry.
