Sovos and EXL Join Forces to combine decades of solutions and consulting for the Insurance Industry

Combined solutions will ensure resiliency, reduce complexity and actively manage global regulatory compliance

ATLANTA, Nov. 6, 2023 – Global compliance technology solutions and services provider Sovos today announced a partnership with EXL, a leading data analytics and digital operations and solutions company. This partnership combines Sovos’ proven record of accomplishment in delivering innovative tax software and compliance solutions with EXL’s expertise in consulting and servicing for insurance organizations that want to automate their processes.

The insurance industry has long grappled with regulatory compliance and tax management complexities. By partnering, Sovos and EXL will provide their combined expertise to provide comprehensive solutions that streamline processes, enabling insurance companies to focus on their core business.

This partnership combines Sovos’ proven record of accomplishment in delivering innovative tax software and compliance solutions that are highly interoperable with other mission critical ERPs, business process, and eCommerce platforms; with EXL’s expertise in helping organizations automate core processes. As a result, customers will be able to ensure resiliency, focus on growth drivers, minimize enterprise exposure to risk, reduce complexity in business processes and actively manage global regulatory compliance.

Key benefits for customers include:

• Seamless compliance: Insurance companies can now effortlessly navigate the complexities of regulatory compliance through a unified platform that simplifies tax reporting processes, reducing the risk of errors and penalties.
• Efficient tax management: Comprehensive suite of tools for sales and use tax management, enabling insurance companies to calculate, track, and manage taxes in real-time accurately.
• Best in class technology: EXL applies data, analytics and digital capabilities with Sovos’ powerful tax solutions, creating an intuitive and user-friendly interface that enhances operational efficiency.
• Expert support: With the combined expertise of Sovos and EXL, insurance companies will have a dedicated support team that understands the intricacies of the insurance industry and can provide tailored assistance.

“The partnership between Sovos and EXL is a game changer for customers in the insurance industry when it comes to navigating the complexity of a modern regulatory environment,” said Alice Katwan, president of revenue, Sovos. “The combination of Sovos’ compliance and regulatory expertise and EXL’s data, analytics and digital capabilities will help insurance companies solve some of their most challenging regulatory compliance challenges.”

“At EXL, we are dedicated to providing services that drive efficiency and innovation,” said Raghav Jaggi, senior vice president of EXL’s insurance business. Teaming up with Sovos allows us to take our commitment a step further by addressing the pressing needs of insurance companies in a rapidly changing regulatory landscape.”

For more about the Sovos and EXL partnership, please visit our partner page.

About Sovos

Sovos provides businesses with the confidence needed to navigate an increasingly regulated world. Offering a modern, IT driven response to compliance, Sovos’ solutions are scalable, reliable and secure and provide a great user experience. Sovos has more than 100,000 customers, including half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s cloud-based solutions integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe and is owned by Hg and TA Associates. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.

About EXL

EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company that partners with clients to improve business outcomes and unlock growth. By bringing together deep domain expertise with robust data, powerful analytics, cloud, artificial intelligence and machine learning, we create agile, scalable solutions and execute complex operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media, and retail, among others. Focused on driving faster decision-making and transforming operating models, EXL was founded on the core values of innovation, collaboration, excellence, integrity and respect. Headquartered in New York, our team is over 50,000 strong, with more than 50 offices spanning six continents. For more information, visit www.exlservice.com.