Reactions, one of the leading news outlets in the insurance industry, recently wrote a feature on Xceedance and its new outsourcing model.
The article highlights the ways Xceedance is striving “to change the way the re/insurance sector thinks about its options for outsourcing, innovation and insurtech.”
The article explains that India is often viewed as a resource for back-office outsourcing for a wide range of industries, but lacks a reputation for driving innovation or potentially disruptive ideas and technologies.
That perception was the genesis for the creation of Xceedance. CEO Arun Balakrishnan recognized he could, in fact, capitalize on the untapped technology and innovation expertise in India when he formed Xceedance in 2013. Arun was confident that the talent pool was capable of handling much more than the basic manual tasks that many international companies were outsourcing to India.
Xceedance was built “by using India’s vast talent pool as an innovation incubator, harnessed for the re/insurance sector. Instead of hiring Indian graduates for mundane tasks, Xceedance focuses on using their skills more strategically,” the article explains.
Reactions details some of the advanced analytics, infrastructure management and process engineering projects Xceedance has completed for clients, including providing end-to-end services for an Australian insurer and CAT risk modeling for a variety of insurance organizations.
Since its founding in India in 2013, Xceedance has expanded globally with locations in Boston, London and Krakow, Poland.