DXC Technology Increases Focus on Insurance Software and Business Process Solutions - Taps Industry Veteran Raymond August as New Leader

Rhea-AI Summary

DXC Technology has appointed Raymond August as President of Insurance Software and Business Process Solutions, effective March 7, 2022. He will lead the growth and development of DXC's insurance software and business process services, focusing on enhancing revenue growth and operational transformation for clients. Starting in the first quarter of FY23, DXC will report these businesses separately within its Global Business Services. August brings nearly four decades of industry experience, most recently as CEO of Benefitfocus.

Positive

• Appointment of Raymond August as President of Insurance Software and BPS strengthens leadership.
• Separation of insurance and BPS reporting highlights commitment to growth in these sectors.

Negative

• None.

ASHBURN, Va.--(BUSINESS WIRE)-- DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, has appointed Raymond August as President, Insurance Software and Business Process Solutions, reporting to Mike Salvino, DXC President and CEO, effective March 7, 2022.

Raymond August, President, Insurance Software and Business Process Solutions, DXC Technology (Photo: Business Wire)

August will lead the development and growth of DXC’s insurance software and insurance, banking and horizontal business process services (BPS). He will focus on capitalizing on DXC’s leading position in insurance to help customers accelerate and sustain revenue growth, build and operate their digital core, and transform their operations.

Revenue for these businesses is currently included in Applications and Business Process Services. Beginning in the first quarter of FY23, DXC intends to report these businesses together as a separate component of DXC’s Global Business Services, underscoring our commitment to the insurance software and BPS markets.

“This move highlights our management focus and drive to capitalize on our industry-leading position in these attractive growth markets,” said Salvino. “Ray is a proven, results-driven leader with a strong track record of execution. He has excellent industry relationships and is deeply respected by our insurance customers.”

A seasoned veteran with nearly four decades of experience in the technology industry and direct experience in the insurance industry, August has worked in senior roles at Computer Sciences Corporation (CSC), Policy Management Systems Corporation and Great Plains Software (Microsoft). From 2014 to 2020, he was President and Chief Executive Officer of Benefitfocus, a leading SaaS provider of solutions to the employee benefits, life insurance and health insurance sectors.

“It’s a terrific time to be joining DXC,” August said. “We are reinforcing our commitment to the insurance industry, our people, our DXC Assure platform strategy and our software portfolio. I look forward to building on this foundation and delivering for our customers.”

Based in Charleston, South Carolina, August graduated from the University of South Carolina with a BS in Accounting and Management Science. He is currently on the Board of Directors for ACORD Solutions Group.

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.

Forward Looking Statement
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by the coronavirus disease 2019 pandemic and the impact of varying private and governmental responses that affect our customers, employees, vendors and the economies and communities where they operate. For a written description of these factors, see the section titled “Risk Factors” in DXC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, and any updating information in subsequent SEC filings, including DXC’s Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2021.

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.

Source: DXC Technology
Category: Investor Relations

View source version on businesswire.com: https://www.businesswire.com/news/home/20220307005605/en/

Media

Jim Pasinski, DXC Corporate Media Relations, +1.716-307-5454, james.pasinski@dxc.com

 

Source: DXC Technology

FAQ

Who has been appointed as the new President of DXC Technology's Insurance Software division?

Raymond August has been appointed as President of Insurance Software and Business Process Solutions at DXC Technology.

When did Raymond August start his role at DXC Technology?

Raymond August's appointment as President became effective on March 7, 2022.

What will DXC Technology report separately starting in FY23?

DXC Technology will report its insurance software and business process services as a separate component of its Global Business Services beginning in the first quarter of FY23.

What experience does Raymond August bring to DXC Technology?

Raymond August brings nearly four decades of technology industry experience, including previous roles at Benefitfocus, CSC, and Great Plains Software.