DXC Technology and ServiceNow Collaborate to Transform the Insurance Industry with AI
DXC Technology, a prominent global technology services provider and a Fortune 500 company, is teaming up with ServiceNow, a leading AI platform renowned for business transformation. This partnership aims to revolutionize the insurance sector through the power of artificial intelligence.
By integrating DXC’s comprehensive insurance solutions with ServiceNow’s advanced AI capabilities and workflows, the collaboration introduces DXC Assure BPM (Business Process Management) powered by ServiceNow. This innovative platform offers an all-encompassing insurance solution tailored to manage the entire policy lifecycle, encompassing policy administration, billing and payment, new business and underwriting, as well as claims management.
Insurance companies are under constant pressure to enhance growth and innovation, streamline their operations, and deliver quicker, more dependable services to policyholders. However, they frequently encounter challenges due to intricate and manual processes. Addressing these challenges, HFS Research highlights that 45% of insurers are actively investing in technology to align their front, middle, and back-office operations.
The DXC Assure BPM platform amalgamates DXC’s extensive insurance expertise with ServiceNow’s unified platform and data model. By leveraging AI, data, and workflows, this integration aims to minimize process inefficiencies, boost operational efficiency, and elevate customer satisfaction.
Applying this solution throughout the policy lifecycle could potentially reduce operational costs by up to 40%, typically incurred due to manual processing, according to the companies.
Ray August, President of Insurance Software and Business Process Services at DXC, expressed, “Our commitment lies in delivering unparalleled value to our clients and expediting business outcomes. Our expanded partnership with ServiceNow combines our profound insurance expertise with ServiceNow’s cutting-edge AI workflow technology to enhance speed, agility, and operational transformation for insurers. Together, we are setting the stage for the future of the insurance industry.”
Adding to this, Erica Volini, Executive Vice President of Worldwide Industries, Partners, and Go-To-Market at ServiceNow, stated, “The union of ServiceNow’s AI and workflows with DXC’s deep insurance industry insights holds the potential to revolutionize insurance processes in unprecedented ways. Together, we’re catalyzing transformation across carriers, infusing greater agility and speed into each and every process.”
