Nasdaq-listed data analytics firm EXL has been categorised as a local leader in business process outsourcing (BPO) in both Property & Casualty and Life & Retirement insurance by ISG Provider Lens.

Research firm ISG says EXL has shown a comprehensive understanding of insurance and what solutions firms need to “navigate this incredibly complex industry”.

“As EXL continues to innovate, its insurance clients in Australia will reap the benefits of improved processes, AI-leveraged forecasting, and data-informed decision making,” ISG Analyst Peggy Bresnick Kendler said.

She commended the variety of technology leveraged to build EXL’s data and artificial intelligence-led capability, and its extensive industry experience.

EXL Head of Insurance and EVP Vikas Bhalla says the insurance industry is under enormous pressure to deliver more personalised, streamlined solutions across multiple channels faster – and more affordably.

“The only way to deliver on rising end-customer expectations for hyper personalised service while improving operational efficiency is to harness data to inform every business function,” he said.

"We’re honoured to be recognised for our ability to keep pushing the envelope on innovation in the insurance space with our data-led model and we look forward to continued breakthroughs.”

EXL employs more than 37,000 and has more than 50 offices globally. Its LifePRO solution that supports the entire policy lifecycle.