DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, has been named a Leader by research firm Everest Group in its PEAK Matrix® for Life and Pensions Insurance Business Process Services/Third Party Administrators Service Provider 2022 report.
DXC provides a range of solutions to the insurance industry including business process services (BPS) and insurance software. It also serves as a licensed third-party administrator (TPA) in the U.S. and licensed broker-dealer in Canada, using its deep expertise in compliance and regulation.
The report acknowledged DXC’s position in the life insurance and pensions market with its highest designated category, noting the following:
- DXC has reaffirmed its commitment to the life and pensions (L&P) space through its strategic BPS focus, leveraging its differentiated ownership of the technology stack and especially its policy administration platforms.
DXC has augmented its platform-led approach and is aggressively taking its DXC Assure for Life and Wealth platform to the market, especially for new (policy) blocks and new product launches, and is experiencing good deal momentum. Additionally, DXC Assure’s integration with both proprietary and partner/insurtech solutions further strengthens this value proposition.
DXC has firmed up its presence to service new/active blocks, while simultaneously focusing on large closed-block deals where it already holds significant experience and has invested in modernizing conversion methodologies.
- DXC has expanded its North American footprint through strategic BPS wins in Canada.
“Recognizing DXC as a Leader and giving us high marks for our vision and strategy reinforces the strength of our insurance services and platform-led approach,” said Ray August, president, Insurance Software and Business Process Solutions. “We will continue to invest in our life and wealth solutions, helping our customers bridge from the old to the new to better serve their customers and grow market share.”
“DXC has continued to maintain a strong position in the L&P insurance BPS/third-party administrator (TPA) market, with its large and expanding clientele, commitment to developing IT/BPS synergies through its proprietary BPaaS capabilities, and end-to-end scope of services,” said Somya Bhadola, Practice Director, Everest Group. “A balanced and customized strategic approach across new, active and closed blocks demonstrates DXC’s commitment to this market and positions it as a Leader.”
This Everest Group report assessed 20 providers based on their vision, capabilities and market impact across North America, and categorized them as Leaders, Major Contenders or Aspirants. DXC was one of only five Leaders, a position the company has held for the past 7 years when the report launched.
A custom version of the Everest Group PEAK Matrix® for Life and Pensions (L&P) Insurance BPS/TPA Service Provider 2022 is available here. DXC was also recently recognized by Everest as a Leader in its Cloud Services PEAK Matrix Assessment 2022.
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.
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