EXL LifePRO

EXL LifePRO^®Customers
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Overview

EXL's policy administration platform, EXL LifePRO®, provides flexible support for a broad range of life, health and annuity products. It streamlines policy administration through features such as a central product rules engine, real-time customer service and flexible agent compensation support. EXL LifePRO® enables access to customer data and system logic, providing important tools for companies working toward transforming their infrastructure to a service-oriented architecture (SOA). This flexibility provides ease of integration with external applications, web interfaces and reporting systems.

EXL LifePRO® allows companies to respond swiftly to the demand for innovative products, rapidly bringing them to market, as the flexibility of its product rules engine enables quick definition of product features, without the need for programming.

Today, over 40 insurers – many of whom administer more than 1,000,000 contracts on a single operating database – utilize EXL LifePRO® and participate in the annual support program. EXL LifePRO® supports a broad range of life, health and annuity products:

Life: Term, Whole Life, Participating Whole Life, Group Life, Interest Sensitive Whole Life, Joint First to Die, Joint Second to Die, Universal Life, Variable Universal Life
Annuity: Single/Flexible Premium Deferred Annuities, Equity Indexed Annuities, Tax Sheltered Annuities (403b Plans), Multi-tiered Annuities, Immediate Annuities, Living Benefit Riders
Health: Long Term Care, Disability Income, Medicare Supplement, Major Medical, Accidental Death & Dismemberment, Critical Care, Cancer, Hospital Indemnity, Funeral Expense & Pre-need, Group Health

Features

EXL provides extensive support for a wide variety of business functions, helping insurers to maximize their investment with the potential to consolidate multiple systems.

EXL LifePRO^® features include:

Multi-company support
Central client file
Policy owner service
Billing & collections
Correspondence
Accounting support
Reinsurance administration
Illustrations
Claims processing
Payout support
Group administration
Valuation support
Tax reporting

Services

Legacy System Replacement

With more than 40 active support customers currently live on EXL LifePRO®, we have extensive experience guiding companies through the entire legacy system replacement process, including decisions such as conversion timing and whether to take a “big bang” or a new business only approach as a first step. A wide range of services levels, including turnkey support, are available.

Application Service Provider (ASP)

One option many insurers leverage to reduce their costs is our ASP service, which enables them to take advantage of our powerful life insurance administration solution in a hosted environment.

How could EXL’s ASP Model benefit you?

Fixed price conversion - Interested in upgrading your administrative solution, but worried about hidden costs and unforeseen expenses? Reduce your risk by letting EXL establish a fixed price for your conversion.
Fixed IT costs - Take the guesswork out of your IT budget. With our ASP model, we will provide IT support at a set fee schedule.
Rapid product introduction - Have a new product that you would like to introduce quickly? EXL can assist in implementing and hosting your new products, so that introduction is measured in days, not months.
Internet support for customers and agents - Are your agents and customers demanding more information availability via the web? Interested in offering a new product line via online distribution? We can design and host web solutions, taking advantage of LifePRO^®'s Internet capabilities.

Technology

EXL LifePRO^® is developed in Fujitsu NetCOBOL for .NET and the Microsoft .NET framework. The .NET framework offers unparalleled interoperability and ease of integration with other languages, data access methods and systems. EXL LifePRO^®'s Microsoft SQL Server^® database allows for flexible access to normalized data for the purpose of enterprise integration and data mining.

The combination of the .NET framework and Microsoft SQL Server® database provides a critical component of an SOA oriented infrastructure.

Access to EXL LifePRO^® business logic for functions such as quotes is enabled via suite of Application Programming Interfaces (API's), developed in Microsoft .NET. The API's provide real-time access to the EXL LifePRO^® application and data for other applications such as agent portals, customer service websites, and other external applications.

EXL LifePRO^® Leaflet