Mosaic Insurance and end-to-end IT services firm DXC Technology have partnered to launch a new insurance technology platform.
Mosaic Insurance is a global speciality insurer that has a wholly-owned syndicated capital management agency and underwriting hubs in the UK, the US, Asia and Bermuda.
According to Reinsurance News, the platform is designed to increase the speed at which speciality insurance is sold, underwritten and serviced.
DXC will power the platform through several of its technology services, including DXC Assure for Commercial and Specialty, applications, analytics and engineering, business processing outsourcing, cloud and security.
The platform will focus on automating interactions with machine learning algorithms and natural-language, open interfaces, blockchain infrastructure, data transparency, robotics and AI that help to streamline processes and reduce overheads.
Mosaic co-founder and co-CEO Mitch Blaser said, “Legacy-free technology is fundamental to Mosaic’s model, and our collaboration with DXC represents the first InsurTech operating platform of its kind. We believe it gives us a tremendous advantage.
“This open platform also delivers the benefit of leveraging the latest technology that’s very modular. You can look at what’s available in the market, put it on your platform because it suits your needs, and modify it easily. Overall, this allows for better decision-making and lower expense ratios.”
DXC president of insurance and business process outsourcing David Swift said, “Our relationship with Mosaic provides DXC with a unique opportunity to flexibly harness the capabilities of our offerings across the entire Enterprise Technology Stack and demonstrate how we are helping innovative enterprises succeed in the marketplace.”
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