EXL leader in ISG Provider Lens Insurance BPO Services Quadrant Report 2020
EXL recognized as a leader in ISG Provider Lens™ Quadrant Reports 2020
EXL recognized as a leader in ISG Provider Lens™ Quadrant Reports 2020
EXL has been recognized as a Leader in all 3 categories in the “2020 ISG Provider Lens™ Insurance BPO Services for the US”:
- Life & Retirement Services
- Property & Casualty Services
- TPA Services
Life & Retirement Services
“EXL’s deep experience and expertise, and its ability to service L&R insurers and manage processes across the value chain, establish the provider as a Leader in the Life & Retirement insurance BPO services quadrant,” reported ISG.
Key EXL strengths cited by ISG in the report include:
- Deep domain expertise: EXL has more than two decades of experience in the L&R insurance space. Its product knowledge and expertise span the entire policy lifecycle.
- Balance of proprietary IP and solutions suites and partner capabilities: Leveraging proprietary AI-powered solutions, EXL helps clients provide a differentiated experience while reducing costs. EXL takes complete ownership of the solutions and underwrites the committed benefits.
- Strong U.S. market presence: EXL is recognized as one of the leading insurance BPO service providers in the U.S. Approximately 65 percent of the firm’s overall income is concentrated in the insurance space.
Property & Casualty Services
“An established industry player, EXL continues to be the leader in the P&C insurance BPO services quadrant. The firm is well-known for developing P&C specific technology including new AI, machine learning and analytics applications to increase actionable insights for competitive advantage and growth, and help insurers further their digital strategies,” reported ISG.
Key EXL strengths cited by ISG in the report include:
- Long industry tenure: With more than two decades of experience, providing services to P&C insurers, EXL has a long tenure in this space, which acts as a competitive differentiator for the organization. The firm uses its expertise to create innovative products for its P&C insurer clients.
- Digital transformation capabilities: EXL has developed cutting-edge digital solutions to keep pace with the changing P&C landscape.
- Data and analytics expertise: EXL provides data management, advanced analytics and industry platforms tailored to the P&C industry, serving the global insurance market, with an extensive data and analytics ecosystem and employing about 4,500 data scientists.
TPA Services
“With deep industry expertise and a demonstrated commitment to strengthening its TPA business by investing in its ecosystem, EXL is in a strong position to deliver transformation and business value to its current and potential carrier customers,” reported ISG.
Key EXL strengths cited by ISG in the report include:
- Strong domain expertise: EXL brings to the market depth and breadth of experience, delivering products and processes to meet the goals and objectives of its carrier customers. The firm has extensive expertise across the entire policy lifecycle, and deep product knowledge in new business applications, application processing, underwriting, policy issuance, inforce administration and claims processing, including adjudication.
- Established U.S. industry presence: EXL is a powerful player in the insurance BPO services arena, and one of the leading providers in the U.S.
- Digital TPA ecosystem: In 2020, EXL invested in digitalizing its LifePro® platform and built a digital ecosystem for its BPaaS/TPA business. Its PBaaS/TPA offering blends a functional approach to BPO services, automated conversion capabilities and key technology partnerships to ensure seamless integrations and a positive customer experience.
Leadership Perspective
“We are excited to be recognized as a Leader in three categories of the ISG Provider Lens™ for Insurance BPO Services in the Life & Retirement and Property & Casualty insurance markets. This positioning validates our ability to serve as an indispensable partner for data-led insurers, as well as our innovative solutions to enable more intelligent operations through digital, AI and analytics.”
Vikas Bhalla, President and Head of Insurance, EXL