DXC Technology Ranked as a Luminary Among Reinsurance Administrators by Celent
DXC Assure Cede Excels in both Advanced Technology and Breadth of Functionality
ASHBURN, Va., Sept. 7, 2023 /PRNewswire/ - DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services and insurance software provider, was ranked as a Luminary in Celent's report for insurers on reinsurance administration.
"Increasingly, reinsurance administration impacts the overall success of an insurance company," said Donald Light, Director, North America Property/Casualty Insurance Practice, Celent. "Where the administration of a reinsurance program is often managed in worksheets and word processing programs, solutions like DXC Assure Cede can help insurers track and recover what otherwise could amount to hundreds of millions of dollars in unrecovered reinsurance payments."
Celent's report, Ceded Reinsurance Solutions—Global Edition, profiles 13 standalone ceded reinsurance solutions, and includes information about specific features and functionalities available, coverage of Property & Casualty (P&C) and Life ceded reinsurance, and technology. DXC Assure Cede was categorized as a Luminary based on offering both advanced technology and breadth of functionality within its solution.
"We are honored to be recognized by Celent as being one of the top two most sophisticated ceded reinsurance solutions in the market," said Ray August, Global Lead, Insurance Software & BPS, DXC Technology. "As the number one provider of core technology to the insurance industry globally, DXC combines deep domain expertise with a mission to innovate. DXC Assure Cede provides unrivaled functional coverage for end-to-end ceded reinsurance administration, hosted on the DXC Assure Digital Platform, helping customers manage risk effectively."
Catering to both the P&C and Life Insurance businesses, and supporting complex protection arrangements, DXC Assure Cede helps insurers effectively manage their reinsurance arrangements. With a focus on automation and data analytics, including AI insights, DXC Assure Cede streamlines reinsurance with minimal manual interventions, at increased speed and accuracy. Each year, more insurers and reinsurers choose DXC's software for ceded and assumed reinsurance, which currently serves more than 150 customers across 45 countries.
Read Celent's full report, Ceded Reinsurance Solutions—Global Edition, here.
Forward Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. For a written description of these factors, see the section titled "Risk Factors" in DXC's upcoming Annual Report on Form 10-K for the fiscal year ended March 31, 2023, and any updating information in subsequent SEC filings. No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this report or to reflect the occurrence of unanticipated events except as required by law.
About DXC Technology
DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.
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SOURCE DXC Technology Company
