EXL’s LDS platform recognized as ‘Luminary’ in Celent New Business and Underwriting Systems: North America Life Insurance Edition report

/EIN News/ -- NEW YORK, Feb. 18, 2025 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced it has been recognized as a Luminary in the Celent New Business and Underwriting Systems: North America Life Insurance Edition report.

The recognition marks the third consecutive year that EXL’s Life Digital Suite™ (LDS) solution, has been honored for its innovation and functionality. In 2022, EXL’s LDS also earned the Luminary honor, and in 2023, EXL won Celent’s XCelent Breadth of Functionality Award for its LifePRO™ platform.

This Celent report evaluated 20 different technology platforms supporting the automation and digitization of the new business and underwriting processes to lower operating costs and improve customer experience. The focus was on new business and underwriting systems currently offered in North America. The Celent evaluation is based on detailed analysis of product offerings and capabilities along with client references and surveys.

“As a modern, low-code, highly configurable system with six new clients in the U.S. and U.K., EXL’s LDS has become a top contender in the new business and underwriting solution market,” states Karen Monks, principal analyst in Celent’s Life Insurance Practice and author of the recent report. “EXL’s continued investment in the product, like Underwriter Assist, a summarization and query tool using GenAI, helps them make insurers’ shortlists.”

EXL’s LDS is a comprehensive digital platform that automates the entire new business and underwriting process from receipt of insurance application through policy issue. Fully interoperable with existing client technologies and pricing systems, the cloud-based solution is built a with simple no code configuration and includes pre-built product templates supporting fully customized agent landing and quote pages, personalized quotes and detailed management dashboards.

“The landscape of the life insurance industry favors fast decisioning and efficient workflows,” said Ajmal Malik, EXL’s vice president and LDS product manager. “At EXL, we empower insurers with fully automated, AI enhanced processes that help underwriters organize and search through unstructured data, streamline decision-making, and allowing them to thrive in this fast-paced environment.”

To read more about the report and to see how EXL compares to its competition, visit here. For more information on EXL’s Life Digital Suite, click here.

About EXL

EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 57,000 employees spanning six continents. For more information, visit www.exlservice.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

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