DXC Technology and PoloWorks Join Forces to Enhance Syndicate Operations
In an impressive move to further solidify its presence in the insurance technology sector, DXC Technology (NYSE: DXC), a prominent enterprise technology partner, is collaborating with PoloWorks, a leading Lloyd's managing agent. This partnership aims to accelerate the onboarding of new syndicates, bringing fresh capabilities and improved efficiencies to the London insurance market.
Elevating Operational Efficiency with Assure Commercial & Specialty
The collaboration centers around the Assure Commercial & Specialty platform, a sophisticated cloud-native solution that integrates artificial intelligence and offers no-code configurability. By leveraging this advanced platform, PoloWorks gains immediate access to technology that allows for the rapid establishment and scaling of new syndicates. This agility is essential for new market entrants looking to navigate the complexities of underwriting.
Streamlining Syndicate Launches
DXC and PoloWorks have been working hand in hand since 2023, focusing on modernizing syndicate operations with the Assure platform. One of the key advantages of this partnership is the elimination of the need for individual syndicates to dedicate resources to software management. By streamlining setup processes, they can significantly reduce the time it takes to launch new syndicates, an aspect that has historically hampered growth in the industry.
Impact on Business Operations
The impact of this collaboration on operational effectiveness cannot be overstated. Assure allows syndicates to benefit from more efficient digital workflows, ensuring regulatory compliance while freeing up resources for core business activities. Paul Andrews, CEO of PoloWorks, highlights the importance of this technology: "With Assure Commercial & Specialty, we provide our syndicates with the critical technology they need to commence operations from day one, ensuring a seamless transition into the market."
Scaling Technology for Growth
The evolution of PoloWorks' ecosystem, powered by DXC technology, showcases a robust framework that supports not just Lloyd's syndicates but also insurance providers and Managing General Agents (MGAs). The Assure platform equips syndicates with the ability to enter the market in as little as a month, offering them the confidence to operate effectively while accessing cutting-edge tools from the outset. This comprehensive offering encompasses crucial functions across pre- and post-bind operations, claims management, finance, and analytics, all with the benefit of no-code configurability.
Strategic Vision for the Future
DXC's commitment to innovation shines through this partnership. Chris Kirby, Global Product Director at DXC, remarked on the significance of this cooperation: "DXC is proud to work alongside PoloWorks to empower them with state-of-the-art technology. Together, we streamline the onboarding processes and enhance access to industry-leading tools, thus contributing to the modernization of the Lloyd's market and fostering growth among managing agents and syndicates." With over four decades of industry experience, DXC has emerged as a trusted partner for the insurance sector, successfully processing a significant share of transactions within the London market.
About DXC Technology
DXC Technology (NYSE: DXC) is a leader in the field of enterprise technology, dedicated to delivering innovative solutions to global enterprises and public sector organizations. By harnessing AI and advanced technology, DXC facilitates rapid outcomes in an evolving landscape. Through its expertise in Managed Infrastructure Services, Application Modernization, and Industry-Specific Software Solutions, DXC operates and modernizes some of the most intricate technology frameworks worldwide.
Frequently Asked Questions
What is the purpose of the partnership between DXC and PoloWorks?
The partnership aims to enhance syndicate operations by leveraging DXC's Assure Commercial & Specialty platform for improved efficiency and speed in launching new syndicates.
What is the Assure Commercial & Specialty platform?
It is a cloud-native, AI-driven technology solution designed to streamline syndicate operations, ensuring regulatory compliance and facilitating faster market entry.
How does the Assure platform benefit syndicates?
The platform allows syndicates to quickly establish operations, ensuring confidence in their business activities while providing access to advanced technological tools.
What role does DXC Technology play in the insurance industry?
DXC Technology acts as a leading partner providing innovative solutions and technology to modernize the insurance sector, managing a large proportion of insurance transactions in the London market.
Who is PoloWorks?
PoloWorks is a Lloyd's managing agent focused on providing support services to the London insurance market, specializing in delivering streamlined operational solutions through collaborations with technology partners like DXC.
