DXC Invitational: Co-innovating with insurtechs

light bulb innovation concept

The lone inventor hunched over a bench, toiling over a thousand failed experiments before achieving success (Eureka!), is the notional image of innovation we’ve carried for generations. But innovation rarely happens in isolation, especially in the insurance industry.

Digitalization makes it possible for insurers to serve customers in many new ways, stretching the demand curve for products and services; so much so that no one company can explore all the possibilities without running the risk of falling behind competitors who’ve learned how to achieve a faster innovation rate.

Today, innovation works best among a collection of companies with affiliated interests that explore hundreds of market niches, each contributing value to the industry in some unique way; an ecosystem, in other words.

In the insurance industry, insurtechs are fast becoming an important part of every company’s innovation ecosystem. These small, independent startups bring new ideas and approaches to the industry that can accelerate a company’s digital strategy or create entirely new and disruptive capabilities. But deciding who to work with, how to vet their technology and integrate it creates questions that leave many companies hesitant to act.

This is a situation DXC understands well. As an industry platform, solution and services provider, insurtechs are a critical component of our innovation strategy. That’s why, in 2018, we established the DXC Invitational – a startup engagement program to promote the development of industry startups and to help us identify promising technologies and innovations that align with our vision for the industry.

Regional competitions evaluate hundreds of potential partners interested in joining DXC’s growing ecosystem. Invitees participate in virtual workshops where they are mentored by DXC industry professionals, industry analysts and clients, receiving valuable feedback about how they could work with DXC’s offerings. Participants are divided into two categories; solutions that integrate with DXC’s industry platform and a separate category for standalone solutions. Two finalists are chosen for each category and a winner in each is chosen by a panel of judges comprising insurance industry professionals from within and outside DXC.  In this way, all participants benefit from greater awareness and feedback whether they advance in the competition or not.

Following each event, select insurtechs are offered the opportunity to partner with DXC and follow a structured integration program that speeds the onboarding process and accelerates integration with DXC’s platform and solution offerings. Finalists and winners from the current year’s competition as well as alumni from previous years are invited to attend the annual DXC Insurance Conference where their solutions are presented to hundreds of potential customers. Finalists also compete for a “People’s Choice” award that is decided by conference attendees.

The range of companies and solutions featured at the November 2019 DXC Insurance Conference in Miami revealed the breadth of innovation that’s happening in the industry. Fenris Digital, Aureus Analytics, Sureify and Body Composition Technologies were selected as the finalists of the DXC Invitational Americas 2019. Fenris Digital and Aureus Analytics were declared the winners at the DXC Insurance Conference. Fenris Digital also won the People’s Choice Award.

  • Fenris Digital, located in Richmond, Virginia, offers a solution that enables clients, carriers and their agencies, to offer personalized, accurate, easy and fast insurance quotes. Drawing on public and proprietary data sources, Fenris can instantly score leads and triage submissions on many dimensions including contactability, lifetime value, propensity to buy, presence of fraud, personal financial responsibility, and cross-sell upsell opportunities.
  • Aureus Analytics, with offices in Hartford, Connecticut, Mumbai, India and Singapore uses predictive analytics and machine learning technologies to deliver a superior customer experience. The company’s cloud-based analytics products enable insurers and banks of all sizes to leverage vast amounts of internal and external data which can be used to improve customer retention, loyalty, and lifetime value.
  • From San Jose, California, Sureify offers an industry platform “Lifetime,” designed to help insurance and annuity companies accelerate their digital journey with a SaaS offering. Lifetime supports sales, service and engagement and includes LifetimeAcquire, an accelerated underwriting feature that enables customer self-service for activities like payments, updating contact info and changing beneficiaries.
  • Body Composition Technologies (BCT) located in Singapore, offers body composition and anthropometry measurement tools that allow users to submit smartphone pictures that can be analyzed to monitor key indicators for chronic disease. BCT’s technology can be embedded into an insurer and healthcare related wellness solutions.

Based on the success of competitions to date, plans for the DXC Invitational are continuing in 2020, surveying the innovation landscape in Europe and Asia. A special competition will focus on innovative wellness technologies and solutions. As the results to date have made clear, innovation that can benefit insurers may be found among startups serving any industry, from any part of the globe. It’s an exciting time to be part of the insurance ecosystem when the possibilities are only limited by our imaginations.


Phil Karecki headshotPhil Karecki is chief technologist, Americas insurance industry, DXC Technology. Phil brings innovation and new technology to bear to solve business needs in the insurance industry. He helps insurers master a “better, faster, cheaper” business model that digital technologies enable.

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