Mosaic Insurance and DXC Technology have announced the launch of a new insurance technology platform designed to increase the speed at which specialty insurance is sold, underwritten and serviced.
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.
“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.”
The new platform will aim to automate interactions with machine-learning algorithms and natural-language, blockchain infrastructure, and data transparency, open interfaces, robotics and AI that cut costs and streamline processes.
“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.”
“Our patent-pending insurtech operating model addresses key frailties in the market today,” added 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.
