EXL Introduces LifePRO® Version 19 with Enhanced Management of Complex AnnuitiesMonday, July 10, 2017
NEW YORK, July 10, 2017 – EXL (NASDAQ: EXLS), a leading Operations Management and Analytics company, today announced Version 19 of LifePRO®, EXL’s market leading policy administration platform for life, health and annuity insurers.The new version of LifePRO® includes significant enhancements in its ability to manage complex investment products, such as variable and registered index annuities. Version 19 also includes upgrades to the customer care portal, claims efficiency features and IT security.
“EXL continues to innovate LifePRO®, one of the most widely accepted platforms in the market,” said Keith Johnson, Senior Vice President and business head of Life and Annuities, EXL. “Carriers are delivering innovative products to meet an increasingly competitive marketplace. We are continuing to enhance LifePRO® to support these needs so carriers can more quickly and effectively meet the needs of their consumers.”
Key features within LifePRO® Version 19 include:
Annuity Product Features
- Enhanced ability to define and model investment allocations
- Annuity claims administration frameworks that allow policies to remain in force until proceeds are paid
- Support for inherited IRA’s including Stretch, Deferred and Continuation of Contract
- Expanded product feature support for Registered Indexed Annuities
- New Owner Annuitant Change features
Quick View Portal for Streamlined Access to Customer Data View
- A portal-based interface powered by new web services functionality to streamline customer views and access to key policy data
Enhanced Active Directory Security Management
- Flexible group definition for simplified user role and group maintenance
- Single sign on functionality
Policy Administration Features
- Benefit change and termination request via SQL table
- Reversal support for electronic payments including automated policy reissue and reactivation
With on premise or cloud-based deployment, LifePRO® features end-to-end policy administration, new business, billing and collections, agency and commissions, claims processing, and reporting including analytics. Mid-sized and large insurers use the platform for open and closed blocks of life, health and annuity products.
EXL (NASDAQ: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 Business 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 26,000 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.