DXC's digital platform transforms how specialty insurance is sold, transacted and serviced
LONDON, May 22, 2023 /PRNewswire/ -- DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services and insurance software provider, announced that Beat Capital Partners ("Beat"), a long duration investor specializing in the insurance industry, will implement DXC Assure Commercial and Specialty, DXC's cloud-based insurance platform, for Beat's syndicated policy administration.
Beat, which invests in world-class specialty underwriting franchises, will move to DXC's digital insurance platform and will use all features of DXC Assure Commercial and Specialty. This cloud-based solution combines customer engagement, self-service capabilities, with analytics and a high degree of no-code configurability.
The platform will enable Beat's underwriting franchises to consume new digital-first services delivered under Lloyd's Blueprint Two, an initiative to transform the London insurance market from a largely paper-based, analog set of processes, to a marketplace that is digital, efficient and data-first.
The software-as-a-service contract was signed in late March and allows for early-adopter access to DXC's complete insurance roadmap and customer community.
"After completing an extensive formal industry-wide search, we selected DXC Assure Commercial and Specialty as the preferred platform for policy administration written through Lloyd's Syndicate 4242," said Brett Hockly, Head of IT, Beat Capital Partners Limited. "We expect that the cloud-based platform will meet our core requirements, especially consortiums, which is a significant part of our business. The DXC team has strong heritage in the Lloyd's market and gave us strong confidence in its ability to help us to evolve to a more data-driven business model."
"We are thrilled to welcome Beat as an early adopter of DXC Assure, helping it to modernize and keep pace with market dynamics," said Ray August, Global Lead, Insurance Software & BPS, DXC Technology. "Beat is working closely with our team to pave the way for others as significant strides are being made to transform how specialty insurance is sold, transacted and serviced."
DXC, the number one provider of core insurance technology globally, offers market-ready solutions for carriers and brokers in the global specialty market. It recently announced Blueprint Two transitional services allowing digital enablement for those using legacy or existing systems via a new SaaS offering, DXC Assure Market Link. DXC is also building the digital platform and providing IT services supporting the London market transformation.
DXC Assure Commercial and Specialty enables the availability of the new services delivered under Blueprint Two, including CDR, MRCv3, EBOT, ECOT Writeback, as well as Ruschlikon, B2B, global IPOS/ICOS standards and interoperability with placing platforms.
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 to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.
Beat Capital Partners is a long duration venture capital investor exclusively focused on the insurance industry, offering the right individuals and teams start-up funding, infrastructure, risk capital, and highly rated paper, alongside experienced guidance and support. Beat has launched ten businesses since its founding in 2017, which will collectively write gross premiums estimated in excess of US$650 million in 2023 and operates Lloyd's Syndicates 4242 and 1416. Beat is backed by experienced insurance investors Bain Capital Credit, Elliott Management and Amwins, as well as its management team, and is committed to being the best possible partner for proven insurance talent. For more information, see www.beatcapital.com.
