EXL Achieves Leader and Star Performer Status in Everest Group PEAK Matrix® Assessment 2019 for Life and Pensions Insurance BPO ServicesFriday, February 7, 2020
NEW YORK, February 7, 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 Life and Pensions (L&P) Insurance BPO Services PEAK Matrix® Assessment 2019.” The report cited EXL as a provider demonstrating double-digit growth in gaining market share and the scale of its resources employed across the L&P insurance value chain.
“EXL continues to display strong growth momentum in the L&P insurance BPO/TPA market and is now more aggressively pushing its digital agenda,” said Skand Bhargava, Practice Director, Everest Group. “The company also continues to focus on delivery quality through domain-specific training and value-add services.”
“We are excited that Everest Group placed us as a Leader and Star Performer based on our strong growth and expanding suite of digital solutions,” said Vikas Bhalla, Executive Vice President, and Head of Insurance, EXL. “We are increasingly recognized as a strategic digital transformation partner for our clients due to our ability to support end-to-end transformation and our ability to orchestrate domain talent with our analytics and digital capabilities to deliver breakthrough business outcomes.”
“EXL has registered double-digit growth in the L&P insurance BPO/TPA as a result of our focus on innovation and driving outcomes for our clients” said Anand Logani, Senior Vice President and Head of Life and Annuities Insurance, EXL. “We continue to lead in the Group and Individual Life, Disability and Voluntary Business. EXL has extensively augmented its domain knowledge with digital and analytics capabilities in the Underwriting, Actuarial and Claims functions.”
For its analysis, Everest Group classifies service providers into Leaders, Major Contenders and Aspirants. Star Performer designations are based on providers’ relative year-on-year movement on the PEAK Matrix. The PEAK Matrix framework focuses on assessing the market impact, vision, and capabilities of each service provider across several key dimensions.
In its report, Everest Group noted EXL for the following strengths:
- Strong growth momentum in the L&P insurance BPO/TPA market
- Ability to support data-driven digitalization for decision making
- Integrated value proposition for large scale, end-to-end client engagements
- Enhancement of high-end capabilities in areas such as actuarial and underwriting
- Continued investment in domain expertise through partnerships with academic associations
- New digital functionality within its LifePRO® policy administration platform
- A partnership approach to client service across relationship management, process execution and transparent client communications
EXL serves five of the top 10 L&A and over 490 insurance clients globally. The company was also positioned as a leader in the previous Everest Group “Life & Pensions Business Process PEAK Matrix Assessment 2018.” To view the report, please click here.
EXL (EXLS) is a leading operations management and analytics company that designs and enables agile, customer-centric operating models to help clients improve their revenue growth and profitability. Our delivery model provides market-leading business outcomes using EXL’s proprietary Digital EXLerator Framework, cutting-edge analytics, digital transformation and domain expertise. At EXL, we look deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. Headquartered in New York, New York, EXL has more than 31,000 professionals in locations throughout the United States, Europe, Asia (primarily India and Philippines), South America, Australia and South Africa. For more information, visit www.exlservice.com.