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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InThe insurance industry is accelerating its transition to advanced cloud platforms to drive operational efficiency, highlighted by DXC Technology’s launch of new Assure Smart Apps built on ServiceNow. These AI-powered applications, including Claims, Engagement, and Underwriter Assistants, are designed to reduce manual processes by 30-40% and cut cycle process times by approximately 30%. The modular, pre-built nature of these apps allows insurers to realize business benefits in 12 weeks or less. This strategic shift involves integrating Artificial Intelligence (AI) directly into core underwriting and claims workflows to meet modern digital demands. Analysts expect this technological adoption to yield significant long-term cost efficiencies and improved margins for major carriers. This trend reinforces a bullish outlook for the Insurtech sector as firms increasingly adopt SaaS models to maintain a competitive edge.