EXL Launches Global Version of Leading Insurance Subrogation Platform Subrosource™
NEW YORK, July 24, 2018 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a leading Operations Management and Analytics company, today announced it has launched a global version of its analytics-driven subrogation platform Subrosource™.
Processing 12% of all transactions in the United States, Subrosource™ provides triage, assignment and scoring capabilities for recovery opportunities. The platform has now been deployed across the UK, Europe and Asia following significant updates that allow insurers to manage international currencies and the nuances of subrogation processes around the world.
“Delivering more than $500 million in savings to our clients since we started this journey, we are excited about how our technology and embedded lifecycle analytics have improved recovery outcomes,” said Brad Burdick, Senior Vice President and Head of Insurance Platform Services, EXL. “Recovery represents a distinct opportunity for insurers but often requires greater investment and capability in order to drive the additional recoveries. We continue to invest in advanced approaches to serve this market, and we look forward to expanding this capability to an underserved global market.”
Key new features within Subrosource™ include:
-- International capabilities across demand generation, case management and currency management -- An enhanced integration framework to simplify and speed integrations -- Deeper lifecycle analytics for all phases of recovery processing, including identification, inventory management and arbitration -- Support for salvage recovery and total loss management -- Commercial deductible recovery capability -- Liability deductible business processes supported across multiple countries and claim systems
Insurers leverage Subrosource™ as part of a business process-as-a-service (BPaaS) model or via cloud deployment.
About EXLEXL (NASDAQ:EXLS) is a leading operations management and analytics company that designs and enables agile, customer-centric operating models to help clients improve their revenue growth and profitability. Our delivery model provides market-leading business outcomes using EXL’s proprietary Business EXLerator Framework®, cutting-edge analytics, digital transformation and domain expertise. At EXL, we look deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. Headquartered in New York, New York, EXL has more than 28,000 professionals in locations throughout the United States, Europe, Asia (primarily India and Philippines), Colombia, Australia and South Africa. For more information, visit www.exlservice.com.
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