Insurtech

Why EXL

What are InsurTechs?

InsurTechs are digital challengers and enablers, whose primary objective is transforming segments of the insurance value chain by leveraging the latest technologies, adopting new business models, and having customers at the forefront of their strategic and operational thinking.

Successful InsurTechs work fast, efficiently, and productively to create a superior customer experience that benefit all parties. We help clients adapt and respond to latest trends so that you can comfortably and intelligently refine your strategies, adopt new business models, and reinvent operations.

Value keys

Four proven ways EXL can add value to your business now:

<div class="insurtech-tab-container"><h4 class="ng-tab-title">Drive profitability through actionable data and insights</h4><p class="ng-tab-desc">Product and pricing capabilities</p><div class="row"><div class="col-6 col-md-3"><div class="card"><div class="card-body"><h5 class="card-title">Pricing model development</h5><ul><li>Frequency, severity, loss cost, burn cost models</li><li>Retention, CLTV, conversion modeling</li><li>Price elasticity modeling</li><li>Price optimization</li><li>Premium audit - rate forecast estimation, channel allocation</li><li>Model monitoring</li></ul></div></div></div><div class="col-6 col-md-3"><div class="card"><div class="card-body"><h5 class="card-title">Product delivery</h5><ul><li>End-to-end product launch for LOBs</li><li>Additional coverages to existing product</li><li>Factor repository development support</li><li>Experience monitoring</li><li>Insights generation</li></ul></div></div></div><div class="col-6 col-md-3"><div class="card"><div class="card-body"><h5 class="card-title">Actuarial support</h5><ul><li>Rate revision/rate maintenance</li><li>External indications development support</li><li>Modeling, capping and dislocation analysis</li><li>Filings exhibits submission</li><li>DOI objections handling</li><li>Profitability review</li></ul></div></div></div><div class="col-6 col-md-3"><div class="card"><div class="card-body"><h5 class="card-title">Data management and reporting</h5><ul><li>Rate and retention monitoring - reporting and dashboarding</li><li>Automation of indication template and filing forms</li><li>Pricing tool development for underwriters and sales team</li><li>Extensive data cleaning, transformation and normalization</li><li>Actuarial data-mart development</li></ul></div></div></div></div></div>

<div class="insurtech-tab-container"><h4 class="ng-tab-title">Build scalable operations enabled by digital and analytic</h4><p class="ng-tab-desc">EXL’s Digital Biz Ops applies the right blend of human capital and technology to help you tap the full value of digital and data at scale, create distinct market advantages and maximize total shareholder return.</p><div class="row"><div class="col text-center"><img src="/sites/default/files/inline-images/exl-e2e-digital-solution.png" data-entity-uuid="60f45adf-24a3-482c-a319-afbb49c1657c" data-entity-type="file" width="662" height="667"></div></div></div>

<div class="insurtech-tab-container"><h4 class="ng-tab-title">Focus on your core as we tackle the rest</h4><p class="ng-tab-desc">EXL provides services across the entire P&C insurance and F&A value chain, bringing efficiency and focus to your core operations.</p><p class="ng-tab-desc mb-1">P&C Insurance</p><div class="row"><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Product design</h5><ul><li>Prototyping and MVP</li><li>Analytics and modeling</li><li>Pricing reviews</li><li>State filings</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Agency and distribution management</h5><ul><li>Marketing, lead gen, campaign management</li><li>Broker management</li><li>Commission management</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">New business and underwriting</h5><ul><li>Submission intake and triage</li><li>Risk assessment and rating</li><li>Pricing and negotiation</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Policy administration</h5><ul><li>Policy issuance</li><li>Certificate of insurance</li><li>Filing, loss run retrieval, billing and collections, escalation and resolution</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Claims management</h5><ul><li>Intake (FNOL – voice and non-voice)</li><li>Investigation</li><li>Evaluationn</li><li>Litigation and resolution</li><li>Subrogation/</li><li>compliance</li></ul></div></div></div></div><p class="ng-tab-desc mb-1">F&A</p><div class="row"><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Operational finance</h5><ul><li>Prototyping and MVP</li><li>Analytics and modeling</li><li>Pricing reviews</li><li>State filings</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Business finance</h5><ul><li>Marketing, lead gen, campaign management</li><li>Broker management</li><li>Commission management</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Specialized finance</h5><ul><li>Submission intake and triage</li><li>Risk assessment and rating</li><li>Pricing and negotiation</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Policy and process</h5><ul><li>Policy issuance</li><li>Certificate of insurance</li><li>Filing, loss run retrieval, billing and collections, escalation and resolution</li></ul></div></div></div><div class="col-6 col-md-5th"><div class="card"><div class="card-body"><h5 class="card-title">Information systems</h5><ul><li>Intake (FNOL – voice and non-voice)</li><li>Investigation</li><li>Evaluationn</li><li>Litigation and resolution</li><li>Subrogation/</li><li>compliance</li></ul></div></div></div></div></div>

<div class="insurtech-tab-container"><h4 class="ng-tab-title">Augment your talent pool with on-demand domain specialist</h4><p class="ng-tab-desc">Our go-to talent pool and partner ecosystem adapt to your way of doing business, helping you achieve the outcomes prescribed for your P&C and F&A operations.</p><div class="row"><div class="col-6"><div class="card"><div class="card-body"><h5 class="card-title">P&C Insurance</h5><ul><li>AI/ML</li><li>Automation</li><li>Cloud</li><li>Data and analytics</li><li>Customer experience - Omni-channel,</li><li>unified desktop, conversational AI</li></ul></div></div></div><div class="col-6"><div class="card"><div class="card-body"><h5 class="card-title">F&A</h5><ul><li>Cloud architect/ engineer</li><li>Automations/ robotics experts</li><li>Accounting platforms</li><li>Data scientist and data engineers/developers</li><li>Web/ workflow developers</li><li>Intelligent extraction and ML</li><li>Data visualization</li><li>Design thinking/ process mining</li></ul></div></div></div></div></div>