Mosaic Insurance and DXC Technology Launch Innovative Technology Platform for Specialty Insurance
Mosaic Insurance and DXC Technology (NYSE: DXC) today announced the successful launch of an innovative new insurance technology platform that increases the speed at which specialty insurance is sold, underwritten and serviced. Together with DXC’s business-process expertise and technology, Mosaic, a next-generation global specialty insurer, will refine underwriting, simplify transactions, and process claims and assess risks faster. Mosaic also streamlines end-to-end processing and provides real-time access to data.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210819005174/en/
David Swift, President, Insurance and Business Process Outsourcing, DXC Technology (Photo: Business Wire)
The new platform is powered by several of DXC’s technology services, including DXC Assure for Commercial and Specialty, business process outsourcing, applications, analytics and engineering, cloud, and security. The model’s launch signifies a major step forward in the global insurance industry, combining best-practices in insurance processing with state-of-the-art technology.
“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,” said Mitch Blaser, Mosaic’s Co-Founder and Co-CEO. “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.”
Combining Mosaic’s IP, expertise, and proprietary workflows with DXC’s best-in-class technology, the platform differentiates Mosaic from competitors through use of disruptive technologies, including analytics and artificial intelligence (AI). The platform is 100-percent cloud native, supporting Mosaic’s tenet of an open architecture and Lloyd’s of London’s vision for “data-first” and “automation everywhere.” Mosaic’s structural centerpiece is Syndicate 1609 at Lloyd’s - the world’s leading insurance market, providing specialist services to businesses in more than 200 countries and territories.
The new platform automates interactions throughout the risk life cycle with:
- Machine-learning algorithms and natural-language processing that enhance underwriting in Mosaic’s highly technical product lines, including transactional liability, political violence, political risk, financial institutions, professional liability and cybersecurity
- Blockchain (distributed ledger technology) infrastructure that provides transparent and instantaneous sharing of data across the platform among brokers, syndicated capital partners, reinsurers and regulators
- Data transparency, open interfaces, robotics and AI that cut costs and streamline processes, including regulatory complexities required to operate a syndicate at Lloyd’s
“DXC is excited to play a critical role in launching Mosaic’s game-changing approach to specialty insurance,” said David Swift, President, Insurance and Business Process Outsourcing, DXC Technology. “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.”
Significantly, Mosaic’s platform, delivered by DXC, will be at the forefront of using DXC-developed application programming interfaces (APIs) integrated with Lloyd’s—allowing systems to exchange data sources for claims processing and seamless receipt of submissions from multiple broker partners. The architecture creates a digital ecosystem offering customers faster coverage and claims payments.
“Our patent-pending insurtech operating model addresses key frailties in the market today,” said Mosaic’s COO Krishnan Ethirajan. “The platform enables a seamless interaction with broker partners for electronic placements, algorithms for risk selection, triaging, pricing, and claims settlement across our highly-specialized lines.”
Founded in February 2021, Mosaic combines Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency and underwriting hubs in Bermuda, the UK, US, and Asia.
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 across the Enterprise Technology Stack to drive new levels of performance, competitiveness, and customer experience. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.
Mosaic is a next-generation global specialty insurer harnessing visionary leadership, exceptional underwriting talent, a focus on complex product lines, and a digitized operating model. Coupling Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency, Mosaic is uniquely positioned to offer capacity and custom service to clients in markets around the world. Visit mosaicinsurance.com and follow us at @Mosaic1609.
Forward-looking Statement from DXC
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 press release or to reflect the occurrence of unanticipated events except as required by law.
The information contained herein is for general informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product or service. Any description set forth does not include all policy terms, conditions and exclusions. Bound insurance policies, rather than summaries thereof, govern. Not all insurance coverages, products or terms may be available. US risks may be placed in the surplus lines market; surplus lines insurers do not participate in US state guaranty funds and coverage may only be obtained through duly licensed surplus lines brokers. Contact Mosaic or your broker for additional details.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Corporate Communications, Global Marketing & Communications, DXC Technology
Chief Communications Officer, Mosaic Insurance
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ibsen Scope Is Announcing Grants 202228.9.2021 13:00:00 EEST | Press release
Ibsen Scope Grants 2022 are now applicable for individual artists, theatre companies, institutions and organizations worldwide. The program amount to a total of NOK 2.000.000,-. (Approx. Euro 205.000,- /USD 248.000,-). The program offers funding for innovative performing arts projects. The projects must act as incentives for critical discourses on society related matters and be based on one or more of Henrik Ibsen’s plays. Applications are submitted through our website, and an appointed jury will evaluate the applications. For further information, statutes and application form see www.ibsenscope.com Deadline for applications is December 9th 2021. The winners of the Ibsen Scope Grants 2022 will be invited to Ibsen Scope Festival at Teater Ibsen in Skien, Norway in May 2022. Not heard of Ibsen Scope? We have changed our name. Ibsen Awards is now Ibsen Scope! We still look at the world through Henrik Ibsen’s lenses. We still engage in vivid, critical and artistic discourses on the works a
REPLY: Countdown to the Reply Cyber Security Challenge 202128.9.2021 10:30:00 EEST | Press release
On the 15th of October 2021, Reply will launch the fourth edition of the Reply Cyber Security Challenge, a team-based coding competition open to young professionals and cyber security enthusiasts from all over the world. This year’s edition will be supported by Intesa Sanpaolo, one of the top banking groups in Europe, and Immersive Labs, the platform empowering businesses to increase, measure and evidence human capability in every part of their cybersecurity. Intesa Sanpaolo‘s support confirms its commitment to increase education, awareness and training on cybersecurity among young people. Improving cybersecurity knowledge, skills and judgement is Immersive Labs’ mission and the Reply Cyber Security Challenge represents a new and engaging way to power up people’s cyber capabilities. The challenge, which in 2020 welcomed more than 10,000 participants from 160 countries gather together in 2,380 teams, aims to put teams (from 2 to 4 players) in competition in a 24-hour marathon, Capture T
Speech Processing Solutions (SPS) becomes a Nuance Dragon Medical One Distributor in Europe and Asia Pacific Region28.9.2021 10:02:00 EEST | Press release
Speech Processing Solutions (SPS), a leader in professional dictation, has announced they are joining forces with Nuance Communications as an official distributor of Nuance Dragon Medical One, the leading cloud-based speech recognition solution for clinical documentation, in Europe and Asia Pacific Regions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928005069/en/ © Philips Dictation (Photo: Business Wire) One-stop shop for all voice-to-text needs This agreement enables SPS to become a one-stop-shop for healthcare solution partners and resellers providing dictation, speech recognition, and transcription software, as well as all hardware needs. The Nuance Dragon Medical One solution, which allows clinicians to document the complete patient record by voice, can now be easily combined with leading dictation workflow software and dictation hardware, such as the leading Philips SpeechMike line-up. Dr. Thomas Brauner, CEO of
Tigo Energy to Reveal New Solutions for Solar Fleet Management and Fire Safety at Intersolar Europe28.9.2021 10:00:00 EEST | Press release
Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), confirms the Company’s presence at the upcoming Intersolar Europe in Munich, Germany. Tigo representatives will showcase the entire family of Tigo TS4 Flex MLPE devices, including the recently introduced TS4-A-2F and the Tigo Energy Intelligence software platform. Together, these Tigo products make up the most cost-effective and advanced solution for rapid shutdown on large-scale solar projects. Tigo Energy has led solar innovation with its Tigo TS4 Flex MLPE by providing the freedom for customers to choose the features and components for their solar installations. Over the past 12 months, Tigo released key updates and innovations to its Flex MLPE product line to address the growing demand for high-power solar modules and energy projects that call for a diversified set of fire safety, monitoring, management, and power optimization features. “The Tigo TS4 is a fixture in the systems w
Galderma to Unveil Ground-breaking Data From Across Its Leading Dermatology Portfolio and Showcase Major Update for Sensitive Skincare Brand CETAPHIL® at the 2021 EADV Congress28.9.2021 09:30:00 EEST | Press release
Galderma’s presence at the 2021 European Academy of Dermatology and Venereology (EADV) virtual congress on September 29 – October 2 will reveal new data and showcase the company’s sophisticated portfolio and services across the spectrum of dermatology. The company’s redesigned virtual booth will have dedicated areas presenting Galderma’s innovations in Consumer Care and Prescription Medicine. Unveiling new data in Prescription Medicine The congress will see the unveiling of exciting new data from Galderma relating to rosacea, acne, actinic keratosis, atopic dermatitis and prurigo nodularis. Attendees will have the opportunity to ask questions to the faculties during live Q&A sessions. On Thursday, September 30, Professor Alison Layton^ will chair the symposium Personalizing Acne: Consensus of Experts to Optimize Acne Management. Together with her co-speakers, Professor Layton will provide practical solutions for longitudinal management of acne. On the same day, Professor Gil Yosipovitc
ThreatConnect Expands Into South Africa, Partnering With Leading MSSP28.9.2021 08:00:00 EEST | Press release
ThreatConnect, Inc.®, the leader in reducing complexity and enabling better decision-making in cybersecurity, announced that it has entered a strategic partnership with BUI, Microsoft’s largest Security and Consulting Partner in South Africa. BUI is an award-winning Microsoft Azure Expert MSP, a member of the Microsoft Intelligent Security Association, and a Gold Microsoft Partner delivering cloud and security solutions, as well as professional services, in SA and across the world. With Cyber Risk Quantification (CRQ), Threat Intelligence Platform (TIP) and Security Orchestration, Automation, and Response (SOAR) capabilities combined, ThreatConnect unifies the actions of the security team around the most critical tasks, supports their response with streamlined and automated workflows, and strengthens the entire security ecosystem through powerful technology integrations. With ThreatConnect’s comprehensive intelligence-driven SOAR, BUI (among other MSSPs) sees a plethora of immediate be
GlobalLogic Launches Collaborative Hub Based in Lumada Innovation Hub Tokyo28.9.2021 03:00:00 EEST | Press release
Hitachi, Ltd. (TSE: 6501, “Hitachi”) and GlobalLogic*1, a Hitachi Group Company, today announced the launch of a collaborative hub to promote digital transformation (DX) services in the Japanese market. Based in the Lumada Innovation Hub Tokyo*2, a co-creation base for Hitachi, this collaboration hub combines capabilities of GlobalLogic and Lumada. Delivering on the joint integration strategy, this partnership aims to jump-start GlobalLogic’s entry into Japan, and will accelerate business development for design-led Digital Engineering services of GlobalLogic, establishing a system to support customers in Japan starting from fiscal 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210927005848/en/ A workshop connecting “Lumada Innovation Hub Tokyo” and GlobalLogic's Design and Engineering Centers. (Photo: Business Wire) "The market demand for DX continues to grow at a fast pace, as global brands increasingly leverage digit
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom