DXC Technology (NYSE: DXC) today announced it has been positioned as a leader in the 2020 ISG Provider Lens™ Insurance Business Process Outsourcing (BPO) Services report for the U.S. for Life & Retirement Services, Property & Casualty Services, and Third-Party Administrator (TPA) Services. ISG also named DXC as a leader in the U.S. for Insurance BPO Platforms in Life & Retirement.
The 2020 ISG Provider Lens™ reports evaluated 18 worldwide vendors for Insurance BPO Services, and 19 for Insurance BPO Platforms that provide service within the U.S. The reports used the following criteria: strategy and vision; innovation, brand awareness and presence in the market; sales and partner landscape; breadth and depth of portfolio of services offered; and technology advancements.
“ISG’s leader recognitions for both our insurance BPO and platforms services reflect DXC’s commitment to excellence across the Enterprise Technology Stack,” said David Swift, President, Insurance and Business Process Outsourcing, DXC Technology. “Our ‘leader’ positions demonstrate DXC’s capabilities to provide our customers with a modern digital experience at predictable costs and to supply data analytics expertise that helps grow their business. With DXC, both our customers and their agents are well served at all touchpoints, from applications onboarding to claims processing and more.”
“The leaders among the vendors and providers have a highly attractive product and service offering and a very strong market and competitive position. They fulfill all requirements for successful market cultivation,” said Dennis Winkler, ISG Senior Research Director for the Americas. “As one of the largest players in this space, DXC Technology offers insurance organizations an integrated solution that improves insurance processing, as well as a strong, balanced delivery model.”
Strengths of DXC Insurance BPO Services Capabilities
The 2020 ISG Provider Lens™ Insurance BPO Services report cites these DXC strengths in third-party administration:
- Varied approaches for open versus closed blocks: DXC offers the TPA market a combination of technologies that meet the different needs of open- and closed-block TPA customers. Both DXC’s CyberLife™ and Wealth Management Accelerator® integrate with other technologies to create mature platforms appropriate for customers. DXC offers open-block customers a more modern technology approach with its end-to-end DXC Assure for Life and Wealth solution, which includes software, infrastructure and operations, and is suitable for modernizing legacy platforms and accelerating go-to-market strategies.
- 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’s network of Global Innovation and Delivery Centers includes hubs in the Americas, Europe and Asia. Six U.S.-based service centers are equipped to deliver services that require analysis of and familiarity with issues specific to the U.S., while centers outside the U.S. deliver services that do not require this knowledge.
Strengths of DXC Insurance BPO Platforms
“Enterprises are seeking Life & Retirement (L&R) platforms/solutions to create an ecosystem of services, data and partners and [to] have a customer-centered insurance product in new and existing business models,” said Peggy Bresnick Kendler, ISG Lead Analyst. “DXC offers its insurance customers all of this and is being recognized specifically for its DXC Assure for Life and Wealth solution featuring its modular design and extensive ecosystem.”
The Insurance BPO Platforms report cites these DXC strengths:
- Multichannel system of engagement: DXC Assure for Life and Wealth is a customer-centric multichannel system of engagement that gives L&R insurers a way to offer customers a fully digital experience and enables the creation of personalized journeys, whether for consumers, agents/brokers, underwriters or others. The integrated solution, combining customer engagement self-service, analytics, AI, and other capabilities, 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 many differentiated capabilities to insurance organizations in areas such as dashboard analytics, robotic process automation (RPA), digital declarations, first notice of loss (FNOL) and event tracking.
- Modular design: The DXC platform’s modular design enables insurers to choose the capabilities they need and to add more in the future. Additionally, the platform 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 insurer’s needs and on the core products and services to be implemented in their environment, while allowing DXC’s customers to apply their own branding to the solution.
A detailed summary, including graphs of all rankings and complete downloadable 2020 ISG Provider LensTM reports for Insurance BPO Services and Platforms, can be accessed here.
About ISG Provider Lens Reports
ISG Provider Lens™ delivers leading-edge and actionable research studies, reports and consulting services focused on technology and service providers’ strengths and weaknesses and how they are positioned relative to their peers in the market. These reports provide influential insights accessed by their large pool of advisors who are actively advising outsourcing deals as well as large numbers of ISG enterprise clients who are potential outsourcers. For more information about ISG studies, please email ISGLens@isg-one.com, call +49 (0) 561-50697537, or visit research.isg-one.com.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud, and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
About DXC Technology
DXC Technology (NYSE: DXC) helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world’s largest companies and public sector organizations trust DXC to deploy services across the Enterprise Technology Stack to drive new levels of performance, competitiveness, and customer experience. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.