EXL Recognized as an Insurance BPO Leader by Everest GroupWednesday, April 2, 2014
EXL (NASDAQ: EXLS), a leading provider of business process solutions, today announced it has been named a Leader by global research and advisory firm Everest Group in its market report, “Insurance BPO — Service Provider Landscape with PEAK Matrix™ Assessment 2013.”
EXL was the only one of 16 providers evaluated by Everest Group to receive top scores on market success, scale, service scope, technology capability, and global delivery footprint. Everest Group’s Performance, Experience, Ability, Knowledge (PEAK) Matrix provides an objective, data-driven, and comparative assessment of providers, and positions service providers as Leaders, Major Contenders or Emerging Players.
“EXL’s global insurance BPO business has emerged as a ‘Leader’ in our research due to market success, technology-led solutions and analytics strengths,” said Rajesh Ranjan, Vice President, Everest Group. “EXL has the most clients and the largest workforce serving the industry. They execute complex functions such as underwriting and actuarial support, and they are one of the few providers with a balanced mix of clients in the U.S. and UK markets, demonstrating strengths in both markets.”
EXL provides comprehensive insurance solutions across the product development and new business functions, including actuarial data processing, actuarial analysis and review, pre- and post-underwriting and analytics support. EXL was also noted as a key player in the commercial insurance space, an area that has grown rapidly for providers in the past three years, according to Everest Group.
“We are thrilled to be recognized as a ‘Leader’ in the global insurance BPO market by Everest Group,” said Vikas Bhalla, Executive Vice President and Business Head P&C Insurance, EXL. “Clients in the U.S. and UK cite our strong track record of service delivery with an integrated solution set that can help streamline operations, manage risk, improve and retain customers, and launch products successfully.”
With its in-house training academy and leadership hired from within the insurance industry, EXL supports property and casualty, life and annuities, and health insurers with a global workforce of nearly 8,000 business process management specialists, as well as more than 1,000 data scientists and analysts and 125 consultants, many of whom serve all insurance segments. Technology platforms such as LifePRO®, SubroSource™, MedConnection and CareRadius® allow insurers to optimize their investment in technology.