Applications open for DXC Invitational 2024 (Australia and New Zealand)

Harnessing the power of innovation, DXC continues to host a global series of Insurtech competitions to connect with businesses and scaleups, around the world, to find creative solutions for industry wide challenges. Their aim is to improve the experience for insurers and their customers.

They are excited to invite the insurtech community to enter the 2024 DXC Invitational Australia and New Zealand. Scaleups that are selected through the competition will be invited to work globally with DXC, with the opportunity to deploy their solution across regions, and have access to DXC’s customers.

Their aim is to encourage startups and scaleups with an existing market-ready product or solution relevant to the insurance industry, to enter the competition and to work with them on a proof of concept.

Focus Areas

• Participants entering the competition should look to fulfill, but not limit themselves to, one of the following:
  • Prevention. Helping prevent the losses that lead to insurance claims.
  • Operational excellence. Improving the operational efficiency and effectiveness in the core policy and claims management value chain including customer experience.
  • Engagement. Drive customer engagement through and beyond the transactional touchpoints of buying or claiming against insurance.
  • Solutions that can reduce risk, support lower cost compliance or otherwise improve the insurance industry.
  • Solutions that integrate or are capable of integrating with the DXC Insurance Software  and their insurance business BpaaS and BPO services will be looked upon favourably.
    • Improvements in provisioning, distribution and broking of Life and General (including workers compensation) Insurance Industry.
  • Or surprise them with something compelling they may have not thought about yet.

Categories

• Enriching the Insurance Experience: A standalone product or solution with the capability to address issues in the insurance. In the areas of, but not limited to, the following problem areas.
  • Problem areas:
    • Prevention. Help prevent the losses that lead to insurance claims, thereby reducing the cost of insurance for everyone.
    • Remediation. Improve the remediation of claims, restoring the customer to a pre-claim state in a faster, more effective or more efficient way.
    • Engagement. Drive ongoing customer engagement outside the limited transactional touchpoints of buying or claiming against insurance.
    • An offering that can reduce risk and improve compliance to the industry.
• Bringing Innovation to the DXC Assure Insurance Product Suite: A product or solution with the capability to address issues in the insurance industry. In the areas of, but not limited to, the following problem areas that could be integrated into the DXC Assure product suite. Their insurance products underpin insurers across all lines of insurance.
  • Problem Areas:
    • Prevention. Help prevent the losses that lead to insurance claims, thereby reducing the cost of insurance for everyone.
    • Remediation. Improve the remediation of claims, restoring the customer to a pre-claim state in a faster, more effective or more efficient way.
    • Engagement. Drive ongoing customer engagement outside the limited transactional touchpoints of buying or claiming against insurance.
    • An offering that can reduce risk and improve compliance to the industry.
    • Offerings that enhance their DXC Digital insurance platform (link to offering) that have the capability to intergrade will be given preference.
• Workers Compensation, Self Insurance, and Public Liability: A product or solution that is focused improving health and wellness that can be applied across personal injury incurrence including workers compensation, self insurance and public liability.
  • Problem Areas:
    • Prevention – Help prevent injuries from occurring physical or mental
    • Improve return to work outcomes – Solutions that are focused on return workers back to work sooners
    • Automating manual tasks –  solutions that bring automation to the workers compensation scheme
    • Solutions that help with improving mental wellbeing
    • Solutions that are focused on preventing or improving physical return to work rates.

What to Expect?

• The DXC Invitational is designed to be a light-touch program to fast-track conversations between DXC and the participants to work together on opportunities. This will be done through a series of succinct workshops to facilitate better understanding between both parties and understand the potential for a fruitful relationship.
• Their aim is to quickly proceed to proof of concept and beyond to local and/or global expansion.
• There will be three components to the program:
  • Briefing webinar: held in November, this will be the first point of engagement for finalists. You will get the chance to hear from the DXC team and learn more about the program and company.
  • Workshops: following the briefing session, there will be more intimate interviews, taking a deeper dive to further understand your team and solution.
  • Competition pitch session: chosen finalists will be given the chance to demonstrate their solution’s capabilities in front of the Invitational judging committee and a wider audience.
• The winners will be announced at the pitch session. All finalists will be invited to attend.

Eligibility Criteria

• Ideal applicants would be late stage startups or scaleups with an existing market-ready product/solution relevant to the insurance industry with a demonstrable proof of concept.
• Products/solutions don’t have to be insurance-specific, but applicability is key. They encourage anyone who would benefit from DXC’s experience, scalability and industry reach to apply.

Selection Criteria

• The DXC Invitational judging panel, comprising of key DXC executives and insurance industry leaders, will select a winner from each category, from a shortlisted set of finalists. The winners are invited to collaborate with DXC globally; working closely with subject matter and industry domain experts to deploy their solution across regions, and to interact with global DXC customers on joint pursuits.

For more information, visit DXC Technology.