EXL Achieves Leader and Star Performer Designations in Everest Group PEAK Matrix® Assessment 2020 for Property and Casualty Insurance BPOWednesday, April 29, 2020
NEW YORK, April 29, 2020 - EXL [NASDAQ: EXLS], a leading Operations Management and Analytics company, today announced it has achieved placement as a Leader and Star Performer in the “Everest Group PEAK Matrix® for P&C Insurance BPO 2020.” The report, which positioned EXL in the top-most spot for Market Impact, highlighted EXL’s double-digit revenue growth, investments in digital solutions, and capabilities across the insurance value chain.
“EXL has boosted its digital game by investing in sophisticated digital technologies such as advanced analytics and intelligent automation and developing vertical-specific productized offerings,” stated Skand Bhargava, Practice Director, Everest Group. “Its ability to handle domain-intensive processes such as such as subrogation, actuarial, and underwriting has enabled growth opportunities in complex product lines such as workers’ compensation.”
“We are delighted with being designated as a Leader and Star Performer,” said Vikas Bhalla, Executive Vice President and Head of Insurance, EXL. “As recent events demonstrate, insurers need digital capabilities to adapt to changing requirements and transform their operations, quickly at scale. We are proud of the deep partnership we have built with our clients. They trust EXL to turn data into insights through advanced analytics, to optimize operations through automation and machine learning, and to help them build sustainable and resilient business models.”
“We’re excited how this positioning by Everest validates our approach to lead with domain and digital,” said Raghav Jaggi, Senior Vice President, Global Insurance F&A Leader and Co-Head P&C Insurance, EXL. “The pandemic has shown the need for operations to be geographically diverse with a seamlessly integrated digital and human workforce, and analytics-powered risk management. As the global leader in P&C Insurance operations, we recognize the integral role that we play in helping this industry improve operational resiliency today and better serve their customers tomorrow.”
The Everest Group PEAK Matrix framework assess focuses market impact, vision, and capabilities of each service provider across several key dimensions.
In its report, Everest Group noted EXL for the following strengths:
- Market share and scale among mid-size and large carriers
- Depth of capabilities across the end-to-end insurance value chain
- Domain expertise in complex areas like subrogation, actuarial, and underwriting
- Ability to optimize client operations with digital
- Investments in advanced analytics, intelligent automation and digital solutions
EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has more than 32,600 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia and South Africa. EXL serves multiple industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information, visit www.exlservice.com.