EXL announces the release of its LifePRO® 20 Digital Insurance Platform

Rhea-AI Summary

EXL has launched LifePRO® 20, a new digital policy administration platform designed for insurance carriers. This solution streamlines the entire lifecycle of policy administration, enabling rapid product launches and cost management. Key features include over 12,000 configurable product rules, advanced analytics integration, and cloud deployment options. With its track record of serving more than 50 clients in North America, EXL aims to enhance user experience while ensuring compliance and operational efficiency. This innovation positions EXL favorably in a competitive market.

Positive

• Launch of LifePRO® 20 enhances market responsiveness.
• Supports over 12,000 configurable product rules for customization.
• Cloud-enabled for both public and private deployment options.
• Integrates advanced analytics and AI for performance improvements.
• Maintains the largest customer base among North American insurance carriers.

Negative

• None.

The end-to-end solution accelerates speed to market with a flexible, service architecture and no-code configurability

NEW YORK, Feb. 18, 2021 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a leading provider of Life and Annuity software, enables insurance carriers to prepare for tomorrow’s challenges with the launch of LifePRO® 20, an innovative digital policy administration platform.

LifePRO® 20 is a powerful end-to-end digital solution that supports the entire insurance policy administration lifecycle – from new business to claim – for an extensive array of individual, worksite and group life, health, and annuity products. LifePRO 20 enables companies to quickly bring new products to market, fuel growth and manage operations to drive down cost.

The power of LifePRO® can be extended even further when paired with LDS, EXL’s new business and underwriting module providing a fully integrated “digital platform in a box” from new business to claims.

Improve business results with a proven low-risk solution
With LifePRO 20, EXL continues its track record of providing modern, world class solutions to its 50+ carrier customer base, the largest in North America¹. EXL is committed to providing carriers crucial digital features such as:

• Improved customer experience with a simplified, intuitive user interaction
• 12,000+ fully configurable product rules
• Expanded integration via granular, purpose-built micro-services.
• Seamless integration for Advanced Analytics and AI
• Expanded support for a broad set of insurance lines of business
• Cloud enabled of Public and private deployment

“Our clients tell us they need flexibility and speed from their policy administration solutions to drive better business results. LifePRO® 20 enables them to launch insurance products more quickly and easily than ever before with out-of-the-box support for a broad range of life, health and annuity products.” said Keith Johnson, Senior Vice President, EXL. “Additionally, an improved user experience ensures that service personnel can efficiently handle client interactions and quickly respond to customers’ needs”.

With LifePRO 20, EXL continues its track record of providing modern, world class solutions to the life and annuity market. LifePRO has been recognized for many years as having the largest customer base in North America², with the most carriers introducing new products and managing closed blocks of business. This new iteration ensures those carriers a continued path of innovation, and provides a strategic, enterprise capable platform for new entrants and established carriers alike.

For more information on EXL Insurance, click here.  

About EXL
EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has more than 31,000 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia and South Africa. EXL serves multiple industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information, visit www.exlservice.com.

¹ EXL’s LifePRO® Platform Wins XCelent Customer Base Award | EXL. (exlservice.com)
² https://www.celent.com/insights/748468275 (subscription required)

FAQ

What is LifePRO® 20 launched by EXL?

LifePRO® 20 is an innovative digital policy administration platform designed to streamline insurance policy management for carriers.

How does LifePRO® 20 benefit insurance carriers?

It enables carriers to launch products faster, manage operations effectively, and reduce costs through configurable solutions.

What features does LifePRO® 20 offer?

The platform includes over 12,000 product rules, cloud deployment options, and integrations for advanced analytics and AI.

How many clients does EXL serve with LifePRO?

EXL serves over 50 insurance carriers in North America with its LifePRO platform.

Is LifePRO® 20 suitable for new insurance entrants?

Yes, LifePRO® 20 provides a strategic platform for both new entrants and established insurers in the market.