// IT Services Company DXC Technology has announced the winners of its annual Invitational AusNZ Insurtech Awards…
The term ‘Insurtech’ refers to the use of innovative technology to bring insurance shoppers savings and efficiency while disrupting the current model used by most carriers. It also allows insurance companies to save costs by preventing fraud and automated services.
DXC Invitational focusses on identifying insurtech companies with market-ready tech solutions that improve customer experience, increase efficiency and support compliance across the distribution value chain and life cycle of a policy, including prevention and claims management.
This year, DXC collaborated with Insurtech Australia and CoVentured, to bring together industry leaders and select the companies with the most innovative solutions.
A Perth-based winner
One of the two winners of this competition is Perth based startup People Diagnostix, which provides psychologically based solutions internationally that improve health, well being, productivity and safety outcomes.
Services provided by People Diagnostix are aimed at workplaces and schools, promoting wellbeing and preventing harm, as well as mitigating risks and illnesses.
“The disruptions of 2020 have forced the insurance industry to operate in a very different way than before,” said Michael Neary, industry general manager, DXC Technology Australia & New Zealand.
“We look forward to sharing the solutions from this year’s winners with the industry to help alleviate the pressing challenges we face.”
From the 30 applications received, the judging panel, comprising of representatives from DXC, CoVentured, ANZIIF, Hollard Insurance, iptiQ by Swiss Re, MLC Life Insurance and Insurtech Australia, selected ten finalists, from which two winners were announced.
Applicants had the opportunity to participate in workshops consisting of technical and business discussions led by DXC Technology, Insurtech Australia and CoVentured.
“It is exciting to see insurtech startups and scaleups given the opportunity to present to leaders of the insurance industry,” said Insurtech Australia CEO Rita Yates.
“Insurtech Australia is delighted to be a part of this year’s competition and to see the support DXC offers to insurtechs locally and globally.”
“We have already seen great success with Springday, a start-up that participated in our first competition in 2018; and over the last 12 months, we have been working with Perx Health and Daisee, the winners from last year’s competition to further develop their solutions and go-to-market strategy,” said Michael.
“Every competition we have run has identified new innovations and now is the time to apply these new innovations to the insurance industry”, Michael added.”
Main image source: Data Center Dynamics