EXL maintains close relationships with insurance carriers to keep our finger on the pulse of what our clients need to successfully implement their digital strategy for insurance administration. We carefully track what insurers want to make it easier for them to develop, launch, and administer life, health, and annuity products. They told us they want a flexible customer-centric solution that easily integrates with their entire ecosystem, delivering clear analytics insights and leveraging data to drive business decisions.
They ask. We deliver.
The introduction of LifePRO® 20 represents a significant evolution in the powerful end-to-end digital solution that supports the entire insurance policy administration lifecycle from quote to claim. It’s the culmination of considerable investment in an architecture that delivers tools to bring new products to market faster through configurable services. New seamless integration options support the digital servicing of customers, agents, brokers, and other entities.
EXL tapped state-of-the-art technology capabilities to deliver a solution that is optimized around the user experience. LifePRO® 20 provides an intuitive browser-based administration solution with a focus on customer-centric views to streamline the ability to leverage data and service the customer. The advancements enable carriers to not only gain a competitive advantage but also to transform the way they do business.
The solution features flexible and seamless integration with portals and other systems via an extensive web service library of compact single-purpose services. The service library provides flexible access to data and business logic for a wide range of administrative functions, including complex policy changes.
LifePRO® 20 offers a configurable end-to-end solution providing digital enablement from initial customer quote through claim, with benefits such as:
1. Faster time to market
LifePRO® 20 enables insurers to onboard customers in real-time with true straight-through processing.
- Comprehensive out-of-box functionality with predefined configuration rules
- Ability to configure product rules with no coding required
- Flexible deployment options including hosted, cloud/SaaS, on-premise, third-party administration, or any combination
2. Improved business results
EXL helps carriers optimize operational efficiencies and outstanding user experience with online, self-service portals.
- Support for multiple lines of business makes it easier to expand operations and combine coverages into one product
- Enhanced customer and user experiences built using responsive design, American Disability Act (ADA) compliant, and a 360-degree view of the customer
- Optimized process efficiency and automation that leverages customizable workflows and machine learning
3. Low risk
The secure, scalable solution has the highest implementation success rate in the industry, making it easier - and faster - to launch new products than ever before.
- Largest US customer base with an active, vibrant user community
- Highest implementation success rate in the market
- Base system concept with continuous development and rollout of new capabilities
EXL has a proven track record of success solving insurance administration challenges for our clients. With the launch of LifePRO® 20, we deliver the functionality that enables our clients to respond quickly to changing market forces now while positioning them for future digital evolution and success.
Vice President, LifePRO® Product Owner