NEW YORK, December 10, 2015 – EXL (NASDAQ: EXLS), a leading business process solutions company, today announced its inclusion in the ‘Winner’s Circle’ of the HfS Blueprint Report: Insurance As-a-Service 2015, authored by Reetika Joshi.
Compared to the 2014 Insurance BPO Blueprint, HfS increased the focus on innovation toward As-a-Service delivery including the role of As-a-Service platforms and commercial models as well as robotic process automation (RPA) and analytics. HfS assessed providers under two main categories of innovation and execution.
“Insurance As-a-Service is a reality for a growing subset of insurance BPO/BPaaS engagements today,” Joshi writes in her report, adding, “EXL is a market leader, both in articulating its vision and executing at scale.”
“EXL is pleased to be named to the Winner’s Circle in this important HfS Blueprint,” said Vikas Bhalla, Executive Vice President and Business Head of Insurance, EXL. “We’re developing BPaaS solutions, a key component of ‘as a service’ for all segments of insurance. We focus on both core and point solutions across policy management and claims value chains and have found several opportunities to enhance value for our insurance carrier clients.”
HfS cited several strengths in what it called EXL’s “aggressive BPaaS strategy,” including:
EXL Insurance has multiple proprietary platforms available for in the insurance industry via a BPaaS model, including the policy administration platform LifePRO®, the medical record summarization platform MedConnection SM , and the largest third-party subrogation platform Subrosource®. EXL has also developed BPaaS solutions in key areas such as first notice of loss, premium audit and property survey.