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Takeaways from DXC Connect Insurance Executive Forum 2023, Singapore

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3 August 2023
Max Ang

On 19 July 2023, I attended the DXC Connect Insurance Executive Forum in Singapore. It was an opportunity to hear about DXC’s strategy for the Southeast Asia market, meet technology leaders from the insurance sector, and a chance to catch up with familiar contacts.

DXC has been operating and developing an Asia’s specific platform since the first version of COBOL Integral was released in 1986. With the launch of DXC Assure Integral APAC in 2023, DXC adopted a 90-day learning cycle from customers’ surveys, adopting the listen-learn-act approach in their business plan relook.

This led to the conference’s focus on DXC’s Global Insurance Software Value Framework. The framework has 3 main sections and begins with the Base at the bottom and includes lines of business such as Life & Wealth, Group, Reinsurance, and General & Global Specialty. Building on top of Base is Foundation, which includes Cloud Economics, Multi-layered Security, Interoperability, AI Enablement, Data Liberation, Cyber Defense. Topping it off is Surround, and includes functions like Advanced Analytics, Claims Management, Reinsurance Ceding, New Business, Distribution & Advisors, and Document & Reports. The framework aims to guide DXC products in offering system modernization functions, flexibility, and choice, and providing speed-to-market.

Part of the presentation included an update of DXC Integral, and it is quoted as the most widely adopted insurance solution with over 200 customers and over 360 implementations. Integral Life policy administration system has the highest implementation at 184, followed by P&C at 95 and Group at 65. Integral product engine has 33 implementations at the time of sharing. Among the countries in Asia-Pacific adopting Integral are Singapore, Myanmar, Indonesia, Vietnam, Thailand, Cambodia, Laos, Malaysia, China, Japan, India, Philippines, and Hong Kong. Integral is part of DXC Assure cloud-enabled software suite. For legacy systems like Life/400, Vantage, LifeComm, and Integral Classic, it is classified under the Heritage group. Customers’ existing policy administration system, customers’ data store, and business function portals are grouped under DXC’s Customer Systems group. The strategy of DXC is to have customers migrate from their base product to DXC Assure (utilizing cloud, APIs, and including UX in system experience), and include products like Assure Integral, Ingenium, Reinsurance (SICS), and Global Specialty. It was also shared that DXC is one of AWS largest consulting partner for cloud migration and system transformation projects. DXC is in partnership with ServiceNow as well, with a global strategic business group of ServiceNow experts and recognized ServiceNow as a preferred partner for DXC Platform X, DXC intelligent automation platform.

A product suite that was highlighted is DXC Assure Answers, which integrates UX designer/builder, API management services, identity management and cyber defense, as well as data services and data pipelines. These services are interconnected to DXC AI solution services/solution builder and include data mapping, query generation, PII detection, data extraction, and with development for generative AI and LLM.

As part of a panel, DXC invited their Southeast Asia customers to share about their experience with DXC and perspectives on insurance technology implementations. Panelists included Head of ITs and business transformation leads from Allianz Asia, Dai-Ichi Life APAC, Prudential, Insular Life, Sompo Asia, and Great Eastern. In summary, cultural change and business ownership of digital and systems’ transformation programs will lead to greater chance of success. For modernization projects in APAC where regional operations are common, harmonization and communication among the various regional offices in the organization will help develop a cohesive approach for change. Looking at fundamental challenges before transformation is also key. These includes understanding users’ pain points and infrastructure challenges such as why using single system across the region is a big challenge or how can SaaS migration reduce maintenance costs if systems are on-premises. For newer solutions like generative AI implementations, the appropriate use case and solution maturity will enable better application and acceptance among insurers. This also relates to governance for control.

It was good to hear about DXC updates for the region, with a prominent message of listening to customers and business needs first before technology design and implementation.

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To learn more, Celent tracks this market and has research addressing it (list of recent reports here).If you would like to find out more, please feel free to get in touch with me.

Below are related reports contributed by Celent on this topic:

Policy Administration Systems: Asia-Pacific Life Insurance Edition

Policy Administration Systems: P&C Insurance; Asia-Pacific Edition