ExlService Holdings, Inc. - EXLS STOCK NEWS

EXL (NASDAQ: EXLS) has published a report through its EXL Health division, revealing significant post-COVID-19 healthcare cost increases. The analysis shows that health insurance costs more than double, averaging $470 per month for five months after a COVID diagnosis. For individuals with preexisting conditions, costs further escalate, reaching $1,541 monthly. Additionally, a projected 18% rise in future avoidable healthcare spending due to delayed care and increased gaps in routine services is expected. The report provides a roadmap for addressing these challenges.

ExlService Holdings (NASDAQ: EXLS) reported Q4 2020 revenues of $249.0 million, a 3.1% decrease year-over-year, with diluted EPS (GAAP) at $0.94, up from $0.62 in Q4 2019. Full-year revenues totaled $958.4 million, down 3.3% year-over-year, but adjusted EPS rose to a record $3.53, a 14% increase. The company anticipates 2021 revenues between $1.04 billion and $1.06 billion, representing a 9% to 11% increase. ExlService ended 2020 with strong cash flow and a healthy balance sheet, indicating resilience amid pandemic challenges.

EXL (NASDAQ: EXLS) has launched LDS 2.0, a new digital solution for life and annuities insurers. This update includes advanced automation tools powered by machine learning, allowing insurers to speed up product launches and enhance the online buying experience. Since its inception in 2010, LDS has helped insurers in eight countries introduce over 100 products, averaging a 12-week time to market. The solution features a cloud-based platform with embedded analytics, configurable workflows, and performance dashboards to support both consumers and advisers effectively.

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.

EXL (NASDAQ: EXLS) has partnered with Benekiva to enhance its LifePRO® policy administration platform's digital claims capabilities. This collaboration will integrate Benekiva's technology solutions, including workflows and document digitization, improving claims management for customers and employees. Homesteaders Life Company, an existing LifePRO® client, reports positive outcomes from this partnership, streamlining their claims process during the pandemic. EXL aims to elevate customer experiences and operational efficiency through this strategic alliance, continuing to evolve the LifePRO® platform with advanced features.

ExlService Holdings, Inc. (NASDAQ: EXLS) announced the appointment of Kristy Pipes to its Board of Directors as an independent director, effective January 19, 2021. Pipes, a financial expert with experience as the former CFO of Deloitte Consulting, will serve on the Audit and Compensation Committees. The leadership anticipates her expertise in finance and operations will enhance EXL’s strategic direction, particularly in scaling its business and navigating digital transformation. Pipes brings over two decades of experience and has served on other public company boards.

ExlService Holdings, Inc. (NASDAQ: EXLS) announced that David Kelso will retire from the Board of Directors in June 2021 and will not stand for re-election at the 2021 Annual Meeting. Kelso has served on the Board since 2006, significantly contributing to EXL's growth from $75 million in revenue in 2006 to nearly $1 billion in 2020. Rohit Kapoor, CEO, praised his leadership in enhancing EXL's positioning in Insurance and Healthcare, while Nitin Sahney will replace him as Chairperson of the Nominating and Governance Committee as of January 1, 2021.

ExlService Holdings, Inc. (NASDAQ: EXLS) will announce its financial results for Q4 and FY 2020 on February 25, 2021, before market opening. A conference call is scheduled for 8:00 a.m. ET that day to discuss these results. Investors can access the call via the EXL investor relations website, where historical financial data will also be made available. EXL specializes in operations management and analytics, serving various industries with approximately 31,800 professionals globally.