DXC Technology Announces Lockton UK as First Customer to Use New DXC Assure Broking Solution
DXC Technology (NYSE: DXC) has unveiled its new global digital broking platform, DXC Assure Broking, with an early adopter, Lockton, the world's largest independent insurance brokerage. Lockton is using DXC's cloud-based platform for its UK retail business with a view to expanding across other geographies and sectors.
Running on Amazon Web Services (AWS), DXC Assure Broking is an integrated, modular solution for commercial insurance brokers built on the DXC Assure Digital Platform. Covering business development, policy administration, claims, reporting and analytics, it delivers a digital customer experience, reduces costs, increases efficiency, and accelerates time to market for new products and services. It is the natural successor for DXC's current portfolio of broker solutions: Brokasure Desktop, Brokasure Enterprise and GLOBAL XB.
DXC Assure Broking supports Blueprint Two digital services as part of the core solution to transform the London insurance market. DXC is supporting the Blueprint Two transition with options for digital enablement via a new offering, DXC Assure Market Link, which enables brokers along with commercial and specialty carriers to preserve their investment in existing DXC applications.
Ray August, president, Insurance Software and BPS, DXC Technology, said, "Today marks a significant milestone for DXC and demonstrates the progress we've made in developing a forward-looking broking platform. Lockton is a valued customer for DXC globally, and I am thrilled to see us advance the transformation of this industry with a high-caliber early adopter such as Lockton. We are meeting our customers where they are in their transformation journeys and providing the support they need to extend their investments or move to new solutions."
Lockton is using DXC Assure Broking components today across a number of locations in the UK with the potential to extend across Europe.
"Lockton chose DXC Assure Broking as its long-term strategic solution with the potential for it to be adopted more widely across the Lockton business," said Simon Coleman, Lockton International COO. "We are excited to be working with DXC to shape the retail solution to help us deliver faster time to market and greater value to our customers."
Craig Beattie, senior analyst at Celent, commented, "DXC's continued investment in digital solutions for the global insurance industry demonstrates its commitment to the market and offers a roadmap to DXC's extensive customer base in the insurance industry. Lockton's ambitions for the platform provides an insight into the potential of the new offering."
Early adopters of DXC Assure Commercial and Specialty, which shares the same foundational code base as DXC Assure Broking, will be announced soon.
To execute on Blueprint Two, in January 2022, DXC announced an agreement with Lloyd's, the world's leading marketplace for commercial, corporate and specialty risk solutions, and the International Underwriting Association (IUA). DXC is rearchitecting the London market's entire IT system, helping it to transform from a largely paper-based, analogue set of processes, to one that is data-focused, automated, and cost-efficient. The agreement is supported by the Lloyd's Market Association (LMA).