Streamlines data usage and improves consistency of data calculations, drastically improving process speed at the same time
- 45% reports fully or partially automated within first phase of transformation using data factory methodology
- Able to address complex regulatory reports and ad hoc analysis
Resets actuarial baseline enabling significant acceleration in incremental continuous
- 75%+ reduction in computation time, from two hours to under 30 minutes for a single policy
- 20% capacity improvement with no reduction in speed or quality
Rapid innovation is ways of working across reserving, modeling, pricing, financial integration, and risk management
- Transforms the 61% of skilled actuary time going to low-value activities that could be automated or sourced
- 30% run-rate reduction in actuarial operating costs
- Moving away from “actuaries as data processors” mindset
Data, assumptions and methodologies
Model development, testing and maintenance
Monitoring, experience and result review
Visualization and documentation
- $991.3M (12.3% YoY Revenue Growth) 2019 Revenue
- 32,600+ Professionals
- 8 of the top 10 insurers
- 18 of the top 30 US insurers
- 10 US P&C insurers
- 14000+ Insurance Professionals
- 50+ Actuarial Resources
- 1370 Data Professionals
- 500+ Analytics Professionals
- Data Factory
- Process Re-engineering
- Advanced Analytics
- Model Validation Solution
- P.I. Framework
- GGY AXIS
- MS Excel & Access
- BI Platforms
- Transformative Change - Re-engineering data processing by creating 360 view of data for multiple insurance clients
- Freeing Actuarial Talent - 61 % less involvement in non-core tasks
- Automation - 1500 hours saved on report generation through Automation
- Cost Reduction - 20% reduction in FTE for a major US Client
"Keeping up means getting ahead. To get ahead, be bold. Be innovative. Be a visionary."
Rahul brings over 20 years of experience in leadership and analytics. He has held several senior roles in the banking and insurance analytics industry. At EXL Service he is responsible for business development, client engagement and overall growth of the Insurance Analytics business. Throughout his career, Rahul has co-founded several companies and held a variety of senior management roles, giving him a breadth of experience across a wide spectrum of verticals. Rahul is often invited to industry events to speak before corporate leaders and is a mentor to various associations in Banking & Insurance domain. He was recently nominated as the mentor at Global Insurance Accelerator- a mentor-driven business accelerator designed to foster innovation in the insurance industry. He can be reached at Rahul.Nawab@exlservice.com.
Namit has almost 13 years of experience in providing advisory and analytics services to leading global insurance carriers across product, marketing & distribution, claims and actuarial operations in the US, UK and Europe, Latin America, Asia Pacific and Australia markets. He has a proven track record in building complex analytics and data science engagements and leading edge capabilities, establishing best in class talent acquisition and development programs, and designing innovative delivery models that have been instrumental in the market-leading success of EXL’s Insurance Analytics practice. Namit has a Masters degree in Business Econometrics and a Bachelors in Science from St. Stephens College, University of Delhi, India. He can be reached at Namit.Chopra@exlservice.com.
With many leading insurers as clients, we have a firm grasp on the industry and where it’s going.
We use our deep understanding of the customer journey and next-gen technology to help insurers leverage their data to identify and understand who to target, why products resonate, and how to secure and grow customer loyalty.
For EXL, outcomes don’t end with combined ratios. We partner with you to improve your bottom line and your customer’s experience, an increasingly important metric in an industry facing disruption from insuretech start-ups.