DXC Technology launches insurtech start-up competition

06 November 2023 Consultancy.com.au 3 min. read
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Late-stage start-ups working in the insurance technology (insurtech) space have been invited to apply for DXC Technology’s latest annual pitch, with several Australian companies having already benefited from the collaboration.

Global IT services and consulting firm DXC Technology has launched the latest round of its annual insurtech competition for late-stage start-ups based in the Asia Pacific, with the aim of fostering greater industry innovation.

The chosen winners will be given the opportunity to collaborate with DXC Technology’s global experts as a step toward deploying their solutions across regions, as well as gain access to the firm’s clientele for potential joint pursuits.

DXC Technology launches insurtech start-up competition

Hosted in collaboration with industry association Insurtech Australia and the entrepreneurial support wing of the University of Technology Sydney, the 2023 DXC Invitational seeks submissions in one of two categories covering ‘the digital insurance ecosystem’ and ‘enriching the insurance experience’, the latter which addresses issues in areas such as loss prevention, customer engagement, and claims efficiency through a market-ready product or solution.

“We know the insurance industry has challenges, and we know that insurtechs are ready to help the industry tackle those challenges,” commented Michael Neary, DXC Technology’s Asia Pacific regional general manager for insurance.

“DXC Technology is keen to discover solutions that improve customer experience, increase efficiencies and support compliance across the distribution value chain and life-cycle of a policy, including prevention and claims management.”

Following a series of business guidance and sales coaching workshops, the shortlisted finalists will pitch to an international judging panel of DXC executives and insurance industry leaders, with a winner to be chosen in each of the two categories at the end of the month. AI speech analytics company Daisee and corporate health & well-being platform Springday are among local insurtechs to have collaborated with DXC Technology after participating in the event.

Insurtech Australia CEO Simone Dossetor said the organisation was excited to continue its support for the initiative. “Past winners have seen significant benefit working with DXC to expand their customer base and market geographic scope. This initiative demonstrates DXC is committed to supporting both the insurance industry and insurtech community, to help change the way in which customers are serviced and the landscape of insurance into 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 administration and cloud-based systems managing over half a trillion dollars worth of premiums globally.

DXC Technology also counts 80% of the insurance companies in Fortune’s Global 500 as among its clients, having served the industry through innovation for the past 40-plus years.

University of Technology Sydney director of entrepreneurship Murray Hurps was effusive about DXC Technology’s local industry support. “Engagement between large companies and Australian startups continues to be a challenge. DXC Technology is doing the best work I’ve seen to address this, making customer challenges clear and helping new startups navigate the enterprise space.”

“They’re also doing wonderful work to help protect large customers from the risks of direct engagement with new solutions.”