DXC’s digital platform is transforming the way specialty insurance is sold, processed and serviced.
Beat Capital Partners chooses insurance platform DXC Assure for a new era of digital insurance (Source: Adobe Stock)
DXC Technology (NYSE: DXC), a leading global Fortune 500 provider of technology services and insurance software, announced that Beat Capital Partners (“Beat”), a long-term investor focused on the insurance industry, is implementing DXC Assure Commercial and Specialty, DXC’s becomes cloud-based insurance platform for Beat’s syndicated policy administration.
Beat, which invests in premier specialty underwriting franchises, will transition to DXC’s digital insurance platform and leverage all of the capabilities 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 leverage new digital-first services being delivered as part of Lloyd’s Blueprint Two, an initiative to transform the London insurance market from a largely paper-based, analogue set of processes to a marketplace , which is digital, efficient and data-oriented -First.
The software-as-a-service agreement was signed at the end of March and allows early adopters access to DXC’s complete insurance roadmap and customer community.
“After completing an extensive formal industry-wide search, we have selected DXC Assure Commercial and Specialty as the preferred platform for policy administration authored through Lloyd’s Syndicate 4242,” said Brett Hockly, Head of IT at Beat Capital Partners Limited. “We expect the cloud-based platform will meet our core needs, particularly those of consortia which are a significant part of our business.” “The DXC team have many years of experience in the Lloyd’s market and we have great confidence in their ability given to help us evolve to a more data-driven business model.”
“We’re excited to welcome Beat as an early adopter of DXC Assure and to help him modernize and keep up with market dynamics,” said Ray August, Global Lead, Insurance Software & BPS, DXC Technology. “Beat works closely with our team to pave the way for others as significant strides are made in transforming the way specialty insurance is sold, processed and serviced.”
DXC, the global leader in core insurance technology, provides market-ready solutions for carriers and brokers in the global specialty market. The company recently announced Blueprint Two transition services that enable digital activation for those using legacy or existing systems through a new SaaS offering, DXC Assure Market Link. DXC is also building the digital platform and providing IT services that support the transformation of the London market.
DXC Assure Commercial and Specialty enables availability of the new services provided as part of Blueprint Two including CDR, MRCv3, EBOT, ECOT Writeback as well as Ruschlikon, B2B, global IPOS/ICOS standards and interoperability with placement platforms.
About DXC Technology
DXC Technology (NYSE: DXC) helps global enterprises 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 corporations and public sector organizations trust DXC to deliver services to achieve new levels of performance, competitiveness and customer experience in their IT assets. Learn more about how we at DXC.com deliver excellence to our customers and colleagues.
About Beat Capital
Beat Capital Partners is a long-term venture capital investor focused solely on the insurance industry, providing seed capital, infrastructure, venture capital and highly rated securities, as well as experienced advice and support, to the right individuals and teams. Since its inception in 2017, Beat has founded ten companies that are estimated to have total gross written premiums in excess of $650 million in 2023 and operates Lloyd’s Syndicates 4242 and 1416. Beat is managed by veteran insurance investors Bain Capital Credit, Elliott Management and Amwins supported. and its management team and strives to be the best possible partner for proven insurance talent. For more information, visit www.beatcapital.com.
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