DXC Technology Announces National Competition to Drive Innovation in the Insurance Sector
News Release -- January 15, 2018
Competition launched in collaboration with leading fintech innovation hub Stone & Chalk
Sydney, Australia, 15 January 2018 - DXC Technology the world’s leading independent, end-to-end IT services company, has launched a national competition to foster the growth and innovation of Australian startups in the insurance sector.
DXC Technology launched the DXC SpringBoard competition in collaboration with leading fintech accelerator Stone & Chalk to leverage its expertise and ecosystem in the startup community.
DXC SpringBoard invites late-stage startups to pitch their solution to a panel of senior leaders from insurance and technology companies.
Applicants can enter one of two categories: either an existing solution to plug into DXC Technology’s Digital Insurance as a Service (DIaaS) platform or a standalone solution for insurers with a focus on prevention, remediation and customer engagement. Applicants will have the opportunity to participate in workshops consisting of technical tutorials, business guidance and sales coaching led by DXC Technology and Stone & Chalk. This will assist in preparation for the final presentation and demonstration of the applicant’s working solution to the judging panel.
The judging panel will feature representatives from DXC, Stone & Chalk, IAG, AIG, other insurers and industry associations.
The winning team from each category will receive a cash prize of AUD$4,000, the opportunity to partner with DXC Technology and the chance to present at DXC’s ‘Thrive on Change’ Insurance Industry Conference on Wednesday, 7 March 2018, in Sydney. Applications close on Friday, 26 January 2018, and winners will be announced at the conference in March.
In addition to launching SpringBoard, DXC has been announced as a founding partner with Insurtech Australia, an industry association designed to support insurance industry startups and innovators. DXC joined the likes of AUB Group, EY, Macquarie Bank, Munich Re, DLA Piper, Stone & Chalk, TAS and QBE as founding partners committed to shaping the Australian insurance industry.
Seelan Nayagam, managing director, DXC Technology Australia & New Zealand, said: “The pace of change in the insurance sector is being shaped by increasing regulatory compliance, rising operational costs and reduced profitability, changing demographics, declining customer loyalty, ageing infrastructure and the disruption of new entrants. This means today’s insurance companies need to leverage new technologies and disrupt the way they operate before being disrupted. We are confident that initiatives such as DXC SpringBoard and our partnership with Insurtech Australia will help accelerate positive change and growth across the industry.”
“Stone & Chalk is thrilled to partner with DXC for the inaugural DXC SpringBoard. This is the age where established corporates need to find their own inner startup again, and where startups want to work with corporates that have a startup mentality,” says Alex Scandurra, CEO of Stone & Chalk. “DXC has an incredible insurer client base globally, and the DXC SpringBoard program has the potential to help startups fast-track their propositions to market, and we’re honoured to support DXC with this initiative and to help build Insurtech in Australia.”
Startups and scaleups can find additional details about DXC Springboard and enter the competition online.
About DXC Technology
DXC Technology (DXC: NYSE) is the world’s leading independent, end-to-end IT services company, helping clients harness the power of innovation to thrive on change. Created by the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise, DXC Technology serves nearly 6,000 private and public sector clients across 70 countries. The company’s technology independence, global talent and extensive partner network combine to deliver powerful next-generation IT services and solutions. DXC Technology is recognized among the best corporate citizens globally. For more information, visit www.dxc.technology.
About Insurtech Australia
Insurtech Australia is a national, not-for-profit organisation, run for the benefit of its members and partners across all corners of Australia. Insurtech Australia is a division of FinTech Australia and supports and grows the Australian Insurtech community, including Insurtech startups, insurers, hubs, accelerators and investors. Insurtech Australia aspires to make Australia one of the world’s leading markets for Insurtech and insurance innovation by collaborating with insurers, startups, regulators and investors to create the best possible regulatory environment, and by fostering an ecosystem of supportive partners and networks so Insurtech can thrive and grow in Australia. For more information, visit www.insurtechaustralia.org .
About Stone & Chalk
Since its launch in August 2015, Stone & Chalk has helped create a formidable fintech community across New South Wales and Victoria and has become recognised as one of the top fintech hubs globally. Stone & Chalk has 24 Australian and international corporate partners, houses over 100 full time startups, 352 residents, with 13 of these now exporting. Together with its 32 alumni, Stone & Chalk start-ups and scale-ups have secured over AU$211M of direct equity investment, and have created 500 direct new jobs in the areas of fintech, cyber security, insurtech, data science and connected devices. Stone & Chalk has established resident and corporate innovation programs, inclusive of investor programs, pitch training, mentorship and training. For more information, visit www.stoneandchalk.com.au.
Contacts
- Sheila Dhillon, Director, Corporate Communications, DXC Technology - sdhillon@dxc.com