LifePRO® Digital Insurance claims processing enhanced with BenekivaTuesday, February 16, 2021
NEW YORK, February 16, 2021 - EXL [NASDAQ: EXLS], a leading operations management and analytics company, today announced a partnership with Benekiva, a software startup focused on providing seamless technology solutions for financial services, to enhance the digital claims capabilities of EXL’s LifePRO® policy administration platform.
The partnership will combine the end-to-end policy management capabilities of LifePRO® with Benekiva’s digital claims solutions, which include workflows, document digitization, and claims intake to provide a more effective, efficient claims experience for both customers and employees.
Homesteaders Life Company, a national leader in preneed insurance funding and LifePRO® client, has already begun seeing benefits from the EXL and Benekiva partnership.
“We’ve seen the combination of Benekiva and LifePRO® transforming customer experience and enhancing customer journeys,” stated Nick Gerhart, Executive Vice President and Chief Innovation Officer, Homesteaders Life Company. “It’s also enhanced our resilience. When we shifted to remote work during the pandemic, our employees were able to seamlessly continue to pay claims and keep functioning.”
“We are excited to augment our digital claims management capabilities through this partnership with Benekiva,” said Keith Johnson, Senior Vice President and head of digital insurance solutions and LifePRO®, EXL. “A major component of our success in the policy administration space stems from the way we ensure fast, accurate resolution for customers’ claims. Benekiva will help us amplify the customer and beneficiary experience within our digital claims solutions.”
Said Brent Williams, CEO, and President, Benekiva, “EXL is a global leader in insurance across operations, analytics, and technology with a two-decade track record of innovation in areas of policy administration and claims, through their LifePRO® platform. We are excited to partner with EXL to bring a more digitized and seamless claims experience to the insurance market. We look forward to bringing the same great benefits Homesteaders Life Company has experienced from this partnership to other LifePRO® clients.”
EXL’s LifePRO® provides flexible support for a broad range of life, health, and annuity products. With a flexible service-based architecture featuring a library of over 250 REST and ACORD digital services and compact single-purpose services for areas including policy servicing, party maintenance, agent and hierarchy management, and product configuration, the platform provides insurers with security, scalability, and configurability. A web-based user interface gives a 360-degree view of customers and agents and is designed with ADA compliance in mind. EXL is continually investing in and improving LifePRO®, with the platform now on its 20th version.
About Homesteaders Life Company
Homesteaders Life Company is a national leader providing products and services to promote and support advanced funding of funeral planning and end-of-life expenses.
Benekiva, LLC, was founded in 2018 to offer smart, elegant, and powerful technology solutions to insurance providers. It has since developed a comprehensive digital claims and customer service platform to service all of the document management, compliance, workflows, adjudication, and claims issues related to the insurance industry. The company is headquartered in West Des Moines, Iowa, with a satellite division in Winston-Salem, North Carolina.
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 31,000 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.