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Late-stage start-ups working in insurance technology (insurtech) have been invited to apply to DXC Technology’s latest annual showcase program, with several Australian companies already benefiting from the collaboration.
Global IT services and consulting company DXC Technology has launched the latest round of its annual insurtech competition for Asia-Pacific-based startups to foster greater industry innovation.
Selected winners will have the opportunity to work with DXC Technology’s global experts, a step towards deploying their solutions across regions, as well as gain access to the firm’s clientele for potential joint activities.
Hosted in partnership with industry association Insurtech Australia and the business support wing of the University of Technology Sydney, the DXC Invitational is seeking submissions in one of two categories covering the ‘digital insurance ecosystem’ and ‘enriching the insurance experience’, with the second category addressing challenges in areas such as prevention losses, customer engagement and claims efficiency through a product or solution ready for market.
“We know the insurance industry has challenges and we know insurtechs are ready to help the industry address these challenges,” commented Michael Neary, Regional General Manager Insurance Asia Pacific at DXC Technology.
“DXC Technologies strives to discover solutions that improve the customer experience, increase efficiency and support compliance across the distribution value chain and policy lifecycle, including claims prevention and management.”
Following a series of business advisory and sales coaching workshops, the shortlisted finalists will face an international panel of DXC executives and insurance industry leaders, with a winner in each of the two categories chosen at the end of the month. AI speech analytics company Daisee and corporate health and wellness platform Springday are among the local insurtechs that partnered with DXC Technology after attending the event.
Insurtech Australia CEO Simone Dossetor said the organization was excited to continue to support the initiative. “Past winners have seen significant benefit from working with DXC to expand their customer base and geographic market reach. This initiative shows that DXC is committed to supporting the insurance industry and the insurtech community to help change the way customers are served and the insurance landscape for the future.
According to DXC Technology, the firm is the world’s largest provider of insurance software and business process services for the global specialty insurance market, with its policy management and cloud systems managing more than half a trillion dollars in premiums worldwide.
DXC Technology’s clients also include 80% of Fortune’s Global 500 insurance companies, serving the industry through innovation for more than 40 years.
University of Technology Sydney Business Director Murray Hurps was enthusiastic about DXC Technology’s support for local industry. “Engaging large companies and Australian startups continues to be a challenge. DXC Technology is doing the best job I’ve seen to address this, clarify customer challenges and help new startups navigate the enterprise space.”
“They also do a great job of helping to protect large customers from the risks of directly engaging with new solutions.”
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