NEW YORK, Sept. 07, 2023 (GLOBE NEWSWIRE) -- EXL, a leading data analytics and digital operations and solutions company, announced it has earned an XCelent Award from Celent for their 2023 Policy Administration Systems: North American Individual Life Insurance Edition Report.
EXL won the XCelent Breadth of Functionality Award for Individual Life Insurance Policy Administration for its LifePRO™ policy administration digital platform. The Celent report highlights EXL’s data and analytical capabilities, interoperability across different solutions, and product configuration as LifePRO’s™ primary attributes.
The report, issued biennially, also breaks vendors into five categories: Luminary, Technology Standout, Functionality Standout, Noteworthy Solution, and Developing Solution. EXL was named a Luminary in the Individual Life Insurance Policy Administration report.
“Product configuration is a strong suit of LifePRO™. The continued expansion of product templates allows customers to customize and create products quickly,” said Nanda Rajgopal, principal analyst in Celent's North American insurance practice. “Reusable rules segments can be shared across products, and we find the ability to see when these segments are shared across different products useful.”
“We are excited about the remarkable enhancements to LifePRO™, which have empowered us to serve our clients better and stay ahead in this dynamic marketplace,” said Vikas Bhalla, executive vice president & Head of Insurance Business at EXL. “LifePRO's™ agile capabilities have become a game-changer, allowing insurers to swiftly adapt to evolving customer needs, rapidly configure and launch innovative products, and remain competitive in an increasingly challenging landscape. In today's climate, where speed and precision are paramount, insurers are placing a premium on platforms that can accelerate new product launches, especially in the rapidly evolving, high demand annuities market.”
Separately, EXL was also named by Celent as a Technology Standout in the Group and Voluntary Life Insurance Policy Administration Systems report.
To read more about the report and to see how EXL compares to its competition, please click here. For more information on EXL’s LifePRO™ digital insurance platform, please click here.
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 48,000 strong, with more than 50 offices spanning six continents. For more information, visit www.exlservice.com.
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This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
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