Life insurers badly need technology and information specialists to modernize their pre-Covid distribution and underwriting systems, and some companies are willing to pay up. It’s difficult to recruit tech workers, and the enticements are getting bigger, according to Keith Johnson, head of global digital solutions and business development in insurance at EXL Service, which is based in New York City. “We are aggressively looking for talent,” said Johnson in an interview. “Compensation is always high on the list.”

Rohit Kapoor, Vice Chairman and CEO, EXL, joined TD Ameritrade's Morning Trade Live and talked about what was behind a big Q2 for EXL, how we’re helping our clients navigate a turbulent market with data-led decisioning and “human in the loop,” and what’s ahead for the rest of 2022.

What with their vast resources and robust marketing coffers, big banks have an innate advantage over their smaller counterparts. However, a new, real-time decisioning platform has been launched with hopes of mitigating this David versus Goliath scenario.

EXL, a leading data analytics and digital operations and solutions, Corridor Platforms, a leading decision workflow automation platform, and Oliver Wyman, a premier global management consultancy, have announced a joint venture to develop a risk decisioning-as-a-service solution for financial institutions. The breakthrough new solution leverages advanced analytics, AI and the cloud to deliver instant credit decisions necessary to support digital lending initiatives such as point-of-sale financing, digital loans, mortgage approvals and real-time credit limit changes.

A former Citigroup CEO and ex-chief risk officer of American Express are part of the team behind a new risk decisioning platform meant to level the playing field in digital lending. The goal of the collaboration between EXL, Oliver Wyman, and Corridor Platforms is to help midsize and regional institutions in particular apply sophisticated technology to point-of-sale financing, digital loans, mortgage approvals and real-time credit limit changes.

Rohit Kapoor, Vice chairman & CEO of EXL, says the biggest pivot the company made was to shift its focus to becoming a data-led company

Insurers have massive databases from simulation models and satellites when it comes to weather and climate. The problem is figuring out how to use them to their full potential.

Ankor Rai, Chief Digital Officer, says “We have entered the golden age of AI-driven customer engagement technology. As record numbers of consumers have continued to flood e-commerce channels, straining conventional customer support mechanisms and forcing companies to innovate, AI adoption has skyrocketed”

EXL is leveraging the cloud to integrate data-driven insights and analytics directly into client workflows, supporting real-time decisioning at multiple points in that workflow and driving everything from front-office business strategy to product development, says Bill Heffelfinger, Digital CTO and VP Cloud Engineering, EXL

As Visa continues to develop our suite of BNPL solutions, we’re excited to announce the launch of our new partner program which is live with more than 20 partners already on board!