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EXL- Transforming Property & Casualty BPS with Touchless Processing

Vendor Analysis

by Sven Lohse

published on Jan 09, 2020

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Report Overview:

This NelsonHall vendor assessment analyzes EXL's offerings and capabilities in transforming Property & Casualty BPS with touchless processing

Who is this Report for:

NelsonHall’s comprehensive assessment of EXL Service’s (EXL) property and casualty (P&C) business process service (BPS) offerings and capabilities is designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking Services RFPs
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector.

Scope of this Report:

The report comprehensively analyzes the company’s P&C BPS practice:

  • Strategy, emphases, and new developments
  • Strengths, weaknesses and outlook
  • Target market
  • Offerings and associated technology capabilities
  • Delivery organization, including locations and partnerships
  • Breakouts of P&C BPS specific revenue and delivery resources.

Key Findings & Highlights:

EXL Service (EXL) is a business process services (BPS) company headquartered in New York City. Established in 1999, the company was acquired by its client, insurance firm Conseco in 2001, and was later bought out in November 2002 by Oak Hill Capital Partners, Financial Technology Ventures and senior members of EXL management. The experience gained from servicing Conseco (in addition to another client, Aviva) provided EXL with foundational expertise in the property and casualty (P&C) insurance BPS sector. EXL's acquisition in October 2011 of Trumbull Services from The Hartford expanded EXL’s P&C BPS capabilities in the U.S.

EXL's six business units include one focused on business process management (BPM) for the insurance verticals. This vertical includes P&C, life, disability, and annuity expertise; and retirement services. EXL's vertically oriented offerings are supported by industry-specific digital transformational consulting services, and analytics.

EXL serves U.S., EMEA, Lloyds of London and APAC insurers in all major P&C lines of business and market segments, with:

  • Personal lines (approximately 50% of BPS FTEs)
  • Commercial and Specialty lines (approximately 50% of BPS FTEs)

EXL aims mainly to grow within its existing P&C accounts through the effective orchestration of domain expertise and technology. "Orchestration" is a theme which EXL has developed to highlight both its breadth of understanding of the P&C industry and its pragmatism in applying appropriate expertise and technology.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Outlook

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