Hello, FinTech community. Welcome to our FinTech Top Voice Interview Series.
The latest FinTech Interview with Ray August, President, Insurance Software and BPS at DXC Technology is an interactive Q&A-styled conversation.
Ray August serves as President of Insurance Software and Business Process Services at DXC Technology. In this role, he is focused on capitalizing on DXC’s strong market position to help insurance customers accelerate and sustain revenue growth, build and operate their digital core, and transform their operations for long-term success.
Ray is also a Board Member for the London Market Joint Ventures (XIS & XCS), a strategic collaboration among DXC Technology, Lloyd’s of London, and the International Underwriting Association (IUA). Together with Lloyd’s and the IUA, Ray is helping lead the transformation of the London and global specialty insurance market into a data-first, agile, and secure digital ecosystem—fully aligned with the goals set out in Lloyd’s Blueprint Two.
Through his board role, Ray is driving alignment and accountability across all stakeholders to ensure successful execution of this shared vision. His leadership continues to foster collaboration, innovation, and progress across the insurance technology landscape.
About DXC Technology
DXC Technology 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 to drive new levels of performance, competitiveness, and customer experience across their IT estates.
Let’s start…
FinTech Insights (FTI): Welcome to the Fintech Top Voice interview series. Please tell us a little bit about your journey in the tech industry and how you arrived at DXC Technology.
Ray: I’ve spent my career in software, specifically in the insurance and financial services industries. I have been in this business since 1998 with a predecessor company, CSC, and rejoined DXC three years ago. DXC is the largest provider of insurance software and business process services, serving customers in 79 countries. We are committed to empowering insurers to accelerate growth, build digital-first operations, and achieve operational excellence in an evolving industry.
Throughout my career, my passion has remained constant at the intersection of customers and building products that provide value. By focusing on our customers, we ensure that we are developing software and services that truly matter to them and drive their business goals. I believe that when you prioritize your customer community and invite genuine feedback, you don’t just deliver technology solutions; you become a strategic partner in their transformation.
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FTI: What are your core offerings for the Fintech and Insurance Tech marketplace?
Ray: As the No. 1 provider of core technology to the insurance industry globally, DXC Technology brings unparalleled domain expertise, software and services, and a world-class ecosystem of partners to help insurers achieve their digital transformation objectives. DXC protects, extends and transforms technology estates across all lines of business: life and annuity, property and casualty, commercial and specialty, broking, reinsurance, corporate claims and self-insured. Plus, our suite of DXC Assure SaaS insurance solutions is now available in AWS Marketplace.
DXC Assure Cloud, our digital insurance platform, serves as the foundation for the DXC Assure insurance software portfolio, providing a modern, cloud-enabled, microservices-composed solution for insurers seeking to build out digital, customer-driven services. It also enables insurance companies to integrate existing applications and technologies using DXC’s comprehensive API framework. Our integrated as-a-service solutions encompass product configuration, new customer acquisition, underwriting, policy administration, claims management and reinsurance and combine with self-service features, analytics, artificial intelligence (AI) and other capabilities essential for the next decade.
FTI: How is the latest ServiceNow-DXC partnership slated to transform the Insurance Tech industry? Could you highlight the key capabilities you are introducing to the industry?
Ray: DXC and ServiceNow are partnering to modernize the insurance industry. DXC is combining its industry-leading solutions and ServiceNow’s AI capabilities and workflows to introduce DXC Assure BPM (Business Process Management) powered by ServiceNow. The new offering is purpose built to address insurers who are right now pressured to accelerate growth and innovation, streamline operations, and provide faster, more reliable services to policyholders, but who are often constrained by processes and workflows that are complex and highly manual. According to leading global research firm HFS Research, 45% of insurers are already investing in technology-driven alignment of their front, middle and back offices. DXC and ServiceNow are uniquely positioned to help insurers drive innovation for greater operational efficiency. Combining DXC’s insurance expertise and scale with ServiceNow’s single platform and data model, DXC Assure BPM powered by ServiceNow integrates AI, data and workflows to reduce process debt, enhance operational efficiency, and improve customer satisfaction. The solution applies across the entire policy lifecycle and is expected to help reduce up to 40% of operational costs typically spent on manual processing.
How does the integration of ServiceNow’s AI and workflow technology enhance the customer experience throughout the entire insurance policy lifecycle, from underwriting to claims management?
Ray: Assure BPM’s purpose-built workflows for the insurance industry allow insurers to accelerate digital transformation without starting from scratch. Leveraging DXC’s 40+ years of industry expertise, these workflows provide a strong foundation for automating the full policy lifecycle—from underwriting to claims management—reducing implementation time and ensuring faster time to value. By streamlining operations, insurers can free up resources to focus on higher-value activities, such as customer engagement and risk assessment. By integrating AI-powered process mining, insurers gain real-time insights into workflow performance, bottlenecks, and inefficiencies. The system proactively identifies areas for improvement and provides data-driven recommendations, ensuring continuous process optimization. This results in a more agile, customer-centric insurance experience, driving faster policy approvals, seamless claims handling, and improved overall satisfaction.
Can you provide an overview of your IT and cybersecurity framework, specifically tailored to the fintech industry? How do you ensure compliance with regulations such as GDPR and PSD2, and what measures have you implemented to protect sensitive financial data?
Ray: Several automated tools and manual processes reviews. are used to evaluate our insurance software to ensure our systems are secure and comply with all applicable regulatory requirements. The results of those evaluations are recorded in our enterprise Governance, Risk, and Compliance (GRC) system. As for security measures to protect sensitive data, we have implemented a strict segregation of customer environments from each other. We also implement identity and access control products to ensure only authorized individuals gain access to systems. We provide encryption for stored data as well as information when in transit between our systems and our customers. These are examples of the many things we do spanning processes and technology to protect sensitive financial data.
Additionally, what role do emerging technologies like AI and machine learning play in your security protocols, and how do you measure the effectiveness of these frameworks in preventing breaches or fraud?
Ray: Artificial intelligence and machine learning (AI/ML) systems can identify mitigation techniques and propose a more accurate analysis of threats in a shorter amount of time than humans. AI/ML can improve threat detection and behavioral analytics which helps to detect threats to our environments resulting in faster incident responses to security threats and improved incident investigations. The effectiveness can be measured in the reduced number of security events that require human intervention. As an example, we can see increased amounts of suspicious activity being blocked without a security analyst having to act or coordinate with another team to stop malicious traffic within a system to assist in preventing breaches. We see a future where improvement and efficiency using AI can be accomplished by evaluating large amounts of data across multiple vulnerability management solutions to reduce redundant reporting of the same finding that might be detected by different tools run by different groups. There can be as many as a half dozen* different groups using different tools that report the same system vulnerability through different communication channels to the same system support personnel. As Agentic AI matures, we should see some of the lower impact vulnerabilities automatically be fixed to allow for our support personnel to focus on higher priority tasks that require human intervention.
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In what ways does the AI-driven, self-service portal improve the efficiency and personalization of interactions with policyholders, and how does this impact customer satisfaction?
Ray: The Assure BPM portal features a robust AI-powered Virtual Agent that provides guided navigation, enabling policyholders to quickly and easily complete common tasks such as contact updates, beneficiary changes, and loan requests. By reducing the need for manual intervention, the system saves time, minimizes frustration, and empowers policyholders with greater control over their policies.For more complex inquiries, the AI-driven system seamlessly transitions policyholders to a live agent, summarizing prior interactions in real time. This eliminates the need for customers to repeat information, allowing agents to quickly pick up the conversation and provide efficient, personalized support—leading to a smoother, more satisfying customer experience.
With real-time updates and an Actions List, policyholders can track the status of their requests and clearly understand what happens next along with expected timelines. This transparency reduces uncertainty, builds trust, and enhances overall customer confidence in the insurer’s responsiveness and service quality. By streamlining self-service, enabling frictionless human support, and providing real-time visibility into policyholder actions, the AI-driven portal enhances efficiency while delivering a more personalized and satisfying customer experience.
How does Assure BPM’s seamless integration with the DXC Assure Platform optimize back-office operations and allow insurers to focus more on innovation and improving customer service?
Ray: Assure BPM seamlessly connects with the DXC Assure Platform’s integration layer, enabling real-time updates across the self-service portal and operational workspace. This eliminates the need for insurers to build custom integrations, reducing IT complexity and accelerating deployment. By integrating with third-party services, Assure BPM unlocks a world of automation and AI-driven opportunities, streamlining workflows across the entire policy lifecycle. This enhances operational efficiency, reduces manual workloads, and allows insurers to focus more on innovation, customer engagement, and value-driven initiatives. By reducing integration overhead and leveraging automation, insurers gain agility, improve service quality, and drive continuous innovation—ensuring a competitive edge in the market.
What does your AI playbook for the fintech and insurance industry look like? Which other industries are you targeting with your AI solutions?
Ray: Our AI playbook for the fintech and insurance industry is built around three core pillars: Conversions, Customers, and Community.
1. Conversions:
· Assure Platform: Our AI-powered cloud platform is specifically tailored for the insurance industry, providing secure and trusted access to data, APIs, and business processes, all enhanced through AI.
· Accelerators: We invest in AI to reduce implementation costs, improve operations, and expedite cloud transitions. Key products include Assure Cloud Accelerator, Conversion Accelerator, and Community Accelerator.
2. Customers:
· AI Augmentation: AI augments both our workforce and our customers’ workforce, improving processing speed and business results across hundreds of millions of insurance policies and products.
· Assure Answers: Integrated into our software, Assure Answers automates tasks, augments decision-making, and boosts efficiency. It includes components like Connect Navigator, Claims Automation, Customer Service enhancements, Document Processing, Fraud Detection, and Intelligent Document Processing.
3.Community:
· Customer Engagement: We engage with customer communities through CACs, PAGs, UGs, and AI Advisory Groups to maximize the value of our AI investments.
· Strategic Partnerships: Collaborations with top partners like AWS and ServiceNow help us deliver advanced AI solutions quickly and effectively.
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What are your predictions for the AI-led insurance technology industry?
Ray: The AI-led insurance technology industry is poised for transformative growth. Here are some key predictions:
1. Increased Automation:
· AI will continue to automate complex processes such as claims processing, underwriting, and customer service, significantly reducing manual effort and improving accuracy.
2. Enhanced Customer Experience:
· Real-time sentiment analysis and AI-driven customer interactions will lead to higher customer satisfaction and more personalized services.
3. Predictive Analytics:
· AI-driven predictive analytics will optimize workflows, identify bottlenecks, and recommend process improvements, leading to greater operational efficiency.
Overall, the AI-led insurance technology industry will see a shift towards more intelligent, efficient, and customer-centric solutions, driving significant improvements in both operational performance and customer satisfaction.
Thank you so much for sharing your insights on Fintech with us, Ray! We look forward to having you again at Fintech Top Voice series.
