CSC (NYSE: CSC), a global leader in next-generation IT services and solutions, today unveiled Digital Insurance as a Service (DIaaS), an integrated, end-to-end solution localised for the Australia market that enables insurers to fully embrace the digital world.
With CSC’s DIaaS, insurers can accelerate their journey to digital. They now will be able to launch simplified products quickly and deliver a streamlined digital customer experience across new business, servicing and claims. Insurers also can tap the benefits of a consumption-based, easy-to-deploy infrastructure that eliminates the need for large and lengthy capital-intensive projects and enables alignment of costs with revenue.
- CSC is bringing its deep industry expertise, software and services together with its strategic alliance partners to form a standardized deployment capability tailored for Australia. DIaaS is comprised of:
- CSC’s OmniChannel Digital Consumer Engagement Platform
- a modern, API-enabled policy administration system, including billing and claims
- a robust, externalized product configuration, rules and ratings engine
- data analytics, providing insights for the creation of tailored customer offerings and better understanding of risk
- a comprehensive deployment environment encompassing cloud compute and storage, secure networks, API gateway, cybersecurity, disaster recovery, business continuity and more
- Across-the-board, 24/7 operations support for application, infrastructure and cybersecurity
The modularity of CSC’s approach means insurers have the flexibility to consume the entire solution turnkey, or they can integrate their own components, including other policy systems or their own digital engagement platform.
“Today, every insurer is working to deliver a more digital experience to their policyholders and distribution partners,” commented Donald Light, Research Director at research and advisory firm, Celent. “Insurers with siloed legacy systems face formidable obstacles to achieving their digital goals. Many insurers are looking to their external technology providers to provide tools and solutions to accelerate their digital journey.”
“Fundamental to CSC’s strategy for insurance is a commitment to lead the industry’s digital transformation,” said Phil Ratcliff, vice president and general manager, CSC’s Global Insurance Industry. “Insurers are in a race against time, as their competitors and new market entrants are raising the bar quickly. The breadth of our capabilities and our standing in the market, now combined with DIaaS, uniquely positions CSC to curate and implement an insurance ecosystem that will satisfy the expectations of today’s digitally savvy consumer, whilst delivering outstanding business agility.”
The DIaaS solution is the latest addition to CSC’s growing portfolio of digital insurance solutions, including automobile Usage-Based Insurance (UBI), digital claims FNOL and OmniChannel Digital Consumer Engagement Platform. In addition, CSC can surround DIaaS with a Business Process Services (BPS) capability, specifically targeting closed-book life policies and insurers’ needs to free up embedded capital.
