Xceedance Appoints Travis MacMillian Chief Business Officer
BOSTON, January 8, 2018 — Xceedance, a global provider of insurance consulting, managed services, technology, and data sciences, has named Travis MacMillian as the company’s chief business officer.
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Xceedance Makes Multi-Million Dollar “Series A” Investment in ChainThat, an Insurance Blockchain Specialist
LONDON, November 14, 2017 — Xceedance, a global provider of insurance consulting, managed services, technology and data sciences, today announced a multi-million dollar “Series A” equity investment in ChainThat , a London-based blockchain specialist organisation serving the re/insurance industry.
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Monalisa Samal Inducted in 2017 Class of Influential Women in Re/Insurance
BOSTON, September 25, 2017 — Xceedance is pleased to announce Monalisa Samal has been inducted into the 2017 class of the “Influential Women in Re/Insurance” program, sponsored by Intelligent Insurer.
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Xceedance Expands Managed Services Portfolio to Include Bermuda Insurance Market
BOSTON, May 31, 2017 — Following its recent incorporation in Bermuda, Xceedance today announced an expansion of its industry-focused consulting and managed services to support re/insurance organizations domiciled in Bermuda.
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Xceedance Joins AAIS as Associate Member
BOSTON, April 19, 2017 — Xceedance is pleased to announce that the company has joined the American Association of Insurance Services (AAIS) as an associate member.
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Xceedance Launches Insurance Operations Centre in Krakow, Poland
LONDON, December 5, 2016 — Xceedance today announced the launch of an operations centre in Krakow, Poland.
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Xceedance Appoints Rajesh Iyer Senior Vice President – Head of Data Sciences
BOSTON, November 15, 2016 — Xceedance today announced the appointment of Rajesh Iyer as senior vice president – head of data sciences.
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Xceedance Establishes London Office
LONDON, October 24, 2016 — Xceedance has established an office in London to serve the European, Middle East and Africa (EMEA) market.
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Xceedance Welcomes George Freimarck as Vice President of Business Development
BOSTON, May 31, 2016 — Xceedance announces George Freimarck, vice president for marketing and business development.
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ITAPro asked several influencers, including Xceedance, what the insurance industry has focused on recently and what the future holds. In response, George Freimarck, head of the Americas region at Xceedance, talks about blockchain implementation as a hot topic for the industry in the near future.
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One outcome of the rapid pace of change in insurance is a tipping point in resource and workforce management, where the traditional BPO model is no longer strategically viable. Arun Balakrishnan, CEO of Xceedance introduces Strategic Operations Support (SOS) — a partner/service provider relationship which unifies profound insurance expertise, dexterous support in core insurance functions, and multifaceted understanding of emerging technologies — to improve the business proficiency of insurance organizations.
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According to Amit Patil, underwriting manager at Xceedance, in the next five to ten years, the InsurTech movement and intelligent technologies will likely drive insurance organizations to operate very differently than today. That’s because the fundamentals of the insurance business model are being disrupted by a technology-driven revolution transforming the way re/insurers do business, interact with policyholders, and process multifaceted data about risks and exposures.
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According to Marek Kaszczyc, vice president and head of Poland operations at Xceedance, re/insurance organizations need to meet the exacting new standards of GDPR in a timely and cost-effective manner. With just three months left before GDPR goes into effect, many regulators have not yet issued guidelines. There is still time to get the compliance process on track. Companies do have a bit of breathing space — but they must use it wisely.
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Xceedance CTO Amit Tiwari discussed re/insurance operations in the era of the fourth industrial revolution, which is underlined by the influence of new and advanced technology that is accelerating change across the global risk transfer industry.
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Marek Kaszczyc, vice president and head of the Xceedance managed services team in Poland, reviews the fundamentals of adopting robotic process automation (RPA) in insurance operations. He notes RPA can establish greater process precision and efficiencies for insurers, but also highlights potential pitfalls if RPA is not well implemented.
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Xceedance CTO Amit Tiwari surveys the wave of intelligent technology in insurance — a trend that offers access to greater volumes and accuracy of data, the feasibility to leverage automation for repetitive tasks, and the potential to create more intuitive and efficient systems for managing insurance operations and complex transactions.
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Kaushik Gohain and Prateek Vijayvergia discuss the outlook and possibilities for insurance operations and knowledge workers in the era of intelligent technology.
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The partnership of Xceedance and ChainThat enables the two companies to drive the adoption of blockchain in re/insurance by developing and applying decentralized technology, data/analytics, and consulting services.
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As pioneers in blockchain, distributed ledger technologies and smart contracts, Xceedance and ChainThat have partnered to provide secure online transactional services tailored for re/insurance processes, and to develop blockchain products for the commercial, specialty and reinsurance markets.
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According to Marek Kaszczyc, vice president and head of the Xceedance managed services team in Poland, adoption of blockchain in the insurance industry, requires insurers to embrace a broader view of Distributed Ledger Technology (DLT) — beyond its financial characteristics. Despite initial skepticism, examples of blockchain use are emerging and insurers are starting to pay more attention.
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Collaborating with the right strategic managed services partner is a good option to reinforce the forward-looking skills and tools required for change management and operational transformation.
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Re/insurers, and brokers are increasingly turning to experts for support in handling a growing array of vendor models, and to better manage their exposure.
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Justin Davies and Amit Tiwari explore the rise of InsurTech, what the Fourth Industrial Revolution (4IR) means for the insurance industry, and what insurers can do to better to achieve operational productivity and success amid wide-ranging changes.
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Monalisa Samal, vice president of the catastrophe and exposure management unit at Xceedance, is featured in the fourth annual “Influential Women in Re/Insurance” edition of Intelligent Insurer, an international recognition program featuring “female executives excelling in, and changing, the risk transfer industry.”
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In a roundtable discussion, four senior executives consider how insurance organizations are implementing emerging technologies and data resources — to drive meaningful transformation and innovation in insurance operations.
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CEO Arun Balakrishnan shares insights on blockchain technology and how it can help to transform and manage the way insurers deal with rapidly increasing data sources in insurance operations. As blockchain gains traction in the industry, Arun discusses its potential to improve data security, accuracy and continuity.
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CEO Arun Balakrishnan discusses how insurance companies will become customer-centric, how personalized risk assessment will be possible in the wake of IoT, and how managed service partners will ease the operational pressures in the next 10 years.
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Amit Ranjan highlights the benefits of industry-dedicated consultative partners for insurance-managed services in the fast-evolving environment of the “next industrial revolution.”
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Manish Khetan and Amit Tiwari examine the challenges insurance organizations face in adopting emerging technologies, and how industry-focused managed services partners can help bridge the gap of expertise and operational timeliness.
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Leading Indian publication Yourstory.com throws light on the journey of Xceedance, from being a start-up to thriving globally as a service provider for the insurance industry.
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CEO Magazine identifies Xceedance as a “Great Place to Work” and members of the leadership team describe how Xceedance focuses on developing future leaders.
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Extending services in the Bermuda market is integral to the efforts of Xceedance to enhance the international scope and proximity of its consulting and managed services capabilities.
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CEO Arun Balakrishnan discusses the rapid advancements in technology and RPA, along with some perspectives on transformation and change for insurance operations.
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As a lesson for how Blockchain can be internalized and implemented, the insurance industry can look at the measured way in which cloud was evaluated, rejected, and then slowly adopted.
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Xceedance has joined the American Association of Insurance Services (AAIS) as an associate member. AAIS is a national advisory organization that develops policy forms and rating information used by more than 700 property/casualty insurers.
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The Fourth Industrial Revolution (4IR) is transforming the way people, businesses and machines work together. Justin Davies, region head – EMEA, provides some interesting observations on how the insurance industry is ripe for disruption during the unfolding 4IR.
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Xceedance is identified as one of the fastest growing startups in India. CEO Arun Balakrishnan and members of the Xceedance leadership team describe a unique journey of growth and innovation as an industry-focused managed services provider.
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The Fourth Industrial Revolution (4IR) combines the Internet of Things and the Internet of Systems, from which cyber-physical systems (CPS) are emerging. Rajesh Iyer, head of data sciences at Xceedance, discusses how edge computing and scoring models can align with 4IR principles in the business of insurance.
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Company of the Year (P&C Insurance): The rapid and ongoing growth of Xceedance is solid confirmation of the company’s business and managed services strategy.
Property/casualty insurance technology provider Xceedance has opened an office in Krakow, Poland, and hired a former Aon executive to run it as vice president and country manager.
Xceedance launches an operations center in Krakow, Poland.
With rates squeezed and investment returns wafer thin, what options do insurers and reinsurers have for growth?
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The traditional “analog” domain of insurance is no longer acceptable or productive. We have definitively entered the age of digital commerce. And it is fast reshaping the insurance landscape, just as it has in many other industries.
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Xceedance…offers services for re/insurance companies critical in a fast-changing market, ranging from accounting services to the creation of complex data models and artificial intelligence programmes that allow businesses to price their transactions correctly.
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Xceedance establishes a dedicated data sciences and services team to create strategic data products and analytic tools.
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Data sciences is becoming increasingly prevalent in the insurance industry, mobilizing insurers to leverage internal, external, structured and unstructured data to inform strategic decisions.
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Insurance technology provider Xceedance has expanded once again with the hire of a new head of data sciences.
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Xceedance is seeing a very strong demand from re/insurers to improve operational efficiencies whilst reducing their costs, by partnering with managed service providers.
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Through the London office, Xceedance works with brokers and re/insurers to launch new products, drive lean operations, implement cutting-edge technology and leverage analytic capabilities.
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How does an insurance business transition to operating successfully and efficiently in the new world of work?
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Xceedance representatives will attend a wide range of international insurance conferences in 2018. Our event schedule is posted below.
Connecting at these industry venues is a great opportunity to explore how Xceedance can support and strengthen your insurance operations.
Please reach out via contact@xceedance.com to arrange an onsite discussion, and we look forward to meeting you.
TINtech, London Market
February 6, 2018 | London, UK
A forum for business and IT leaders to explore the extraordinary shifts taking place in the insurance market and how to leverage the potential of new technologies that are driving change.
Cat Risk Management 2018
February 13 – 15, 2018 | Orlando, FL USA
The 2018 RAA Cat Risk Management Conference will focus on scientific and theoretical developments that will challenge current thinking.
DWIC 2018
February 27 – 28, 2018 | Dubai, UAE
The Dubai World Insurance Congress (DWIC) re-imagines the traditional conference format, allowing more than 500 international insurance decision-makers from 35 countries to connect and network around the themes of emerging risks, technology and markets.
Winter Reinsurance Seminar
March 3 – 7, 2018 | Madonna di Campiglio, Italy
Top management of the CEE region insurance market, including more than 100 decision makers, will meet to exchange ideas about the current state and future prospects of the re/insurance market.
2018 AAIS Main Event
April 8 – 10, 2018 | Clearwater Beach, FL USA
The AAIS Main Event provides the opportunity for insurance and risk professionals to collaborate with industry experts, thought leaders, and informed service providers on a variety of timely industry issues.
2018 TMPAA Mid-Year Meeting
May 7 – 9, 2018 | Baltimore, MD USA
The 2018 Mid-Year Meeting provides access to more than 60 program carriers, elite service providers, the London Markets, reinsurance support, program development and distribution resources, and a myriad of networking opportunities.
Bermuda On Blockchain
June 7, 2018 | Hamilton, Bermuda
With the support of the Bermuda Business Development Agency (BDA) and re-Insurance.com, Xceedance and ChainThat will host an informative symposium on blockchain innovation and mobilization, including discussion about regulatory, data, and technology/framework factors, and practical dialogue about activating insurance blockchain initiatives.
Monte Carlo Rendendez-Vous
September 8 – 13, 2018 | Monte Carlo, Monaco
The Rendez-Vous de Septembre brings together the major players in the world reinsurance markets in Monte-Carlo.
WSIA Annual Marketplace
Sept 23 – 26, 2018 | Atlanta, GA USA
The Annual Marketplace offers unparalleled networking opportunities for WSIA members. This event is widely recognized as the premier event for the surplus lines industry.
InsureTech Connect 2018
Oct 2 – 3, 2018 | Las Vegas, NV USA
The world’s largest insurtech event offers unparalleled access to the most comprehensive gathering of tech entrepreneurs, investors and insurance industry incumbents from across the globe.
18th Annual TMPAA Summit
October 22 – 24, 2018 | Scottsdale, AZ USA
The annual summit is dedicated to meeting the unique challenges of program administration.
Blockchain Perspectives: Part 2
March 27, 2018
Xceedance CEO Arun Balakrishnan and ChainThat CEO Dave Edwards talk about the future of blockchain in insurance.
Blockchain Perspectives: Part 1
March 23, 2018
Xceedance CEO Arun Balakrishnan and ChainThat CEO Dave Edwards discuss the partnership of their two organizations and the evolution of blockchain in insurance.
An SOS for BPO: Part Four
February 22, 2018
In our previous post, we shared the ways in which Strategic Operations Support (SOS) relieves insurers of operational pressure across the entire insurance lifecycle. In this fourth and final post on SOS, we point out the ways in which SOS can help insurers view their businesses as franchises (in the sense of predictable repeatability, as detailed by Michael Gerber in his seminal book, The E-Myth Revisited ).
An SOS for BPO: Part Three
February 7, 2018
Strategic Operations Support (SOS) allows core insurance operational activities to be managed by a knowledgeable cohort, who also shares the accountability for outcomes. By adopting SOS, insurers can better control costs (and non-compliance penalties), improve operations and leverage up-to-date capabilities. They can gain focused industry expertise and professional objectivity to ensure competitive responsiveness, to optimize internal resources, and to devote their attention to generating revenue.
Into the Light with Data/Analytics
February 5, 2018
Amit Ranjan, EVP, global service delivery at Xceedance comments on a recent report by industry analyst firm Strategy Meets Action (SMA), “Data & Analytics in Insurance: P&C View Through 2020,” which provides a high-level overview of where the property and casualty (P&C) insurance industry is today and where it is headed with data and analytics initiatives.
An SOS for BPO: Part Two
January 25, 2018
BPO allowed companies to concentrate on core, revenue-producing competencies by outsourcing the execution of the repetitive administrative functions of the back office. Strategic Operations Support (SOS) allows companies to employ insurance-specialist partners for core operational functions across the insurance lifecycle, while conserving time, resources, and operating costs.
An SOS for BPO
January 10, 2018
When business models become antiquated — and when terms, abbreviations, acronyms, and buzzwords fail to keep up with the evolution of business and technology in industries like insurance — you have to create something new. That’s why we created and continuously perform Strategic Operations Support (SOS) to succeed the sinking of conventional Business-Process Outsourcing (BPO). SOS isn’t a distress signal. It’s a lifesaver for rapidly changing insurance operations.
Xceedance and ChainThat discuss blockchain on RETV
December 4, 2017
Reinsurance magazine’s “RETV” recently talked with Justin Davies, Region Head – EMEA at Xceedance and David Edwards, CEO of ChainThat, on the potential of blockchain and the creation of insurance marketplaces within the industry.
Beyond Hype. Blockchain Shifts up a Gear.
November 19, 2017 | Matthew Grant
Matthew Grant, founder of Abernite and partner with Instech London spoke with David Edwards, CEO of ChainThat and Justin Davies, head of EMEA at Xceedance — on how ChainThat and Xceedance will collaborate and leverage the potential benefits of blockchain to streamline risk transfer between insurers and their markets.
Blockchain Q&A
October 25, 2017
In a Q&A with Intelligent Insurer’s Baden-Baden Conference daily publication, Marek Kaszczyc, vice president and head of Poland operations at Xceedance discusses the evolution of blockchain in insurance and how this technology can improve transactional transparency, increase data security and reduce fraud.
Emerging Technology and IoT Q&A
October 23, 2017
In a Q&A with Intelligent Insurer’s Baden-Baden Conference daily publication, Justin Davies, vice president and regional head of EMEA at Xceedance explores the landscape of emerging technologies and the prospects for robotics and artificial intelligence to transform insurance operations by boosting productivity, reducing turnaround times and improving process accuracy.
Enhancing Operations with Managed Services Partners
August 25, 2017
Manish Khetan, chief strategy officer and Amit Tiwari, chief technology officer at Xceedance advocate the benefits of industry-focused managed services partners with examples of how such providers can help bridge the gap of expertise and operational dexterity for insurers seeking efficiencies and growth in the age of insurtech.
The Benefits of Industry-Dedicated Managed Services Providers in an Evolving 4IR Environment
August 21, 2017
Amit Ranjan, EVP, global service delivery at Xceedance, explains how the insurance industry today is on a whirlwind learning curve. He predicts that while insurtech business models have the potential to create meaningful disruption in the industry, they also create new challenges for a variety of insurance stakeholders.
Typists Are Obsolete: A Parable for Emerging Technology in Insurance
August 15, 2017
Xceedance CEO Arun Balakrishnan explores the convergence of new technologies including AI, RPA and blockchain, and their potential to spur positive change, process optimization and growth for insurance organizations.
A Primer on the General Data Protection Regulation (GDPR)
July 31, 2017 | Marek Kaszczyc
With looming deadlines for General Data Protection Guidelines (GDPR), insurers are among companies worldwide gearing up to better safeguard data and meet the regulatory standards of GDPR. Marek Kaszczyc reviews key questions and procedures insurers should examine to optimize data protection and avoid significant penalties.
Are Underwriters Going the Way of Buggy Whip Salesmen?
July 14, 2017 | George Freimarck
A report by the Center for Business and Economic Research lists underwriting on the top ten list of occupations vulnerable to automation. But despite technology, experienced underwriters will continue to add value to insurance operations.
The Landscape of RPA in Insurance
July 06, 2017 | Gaurav Mathur and Vinay Sabharwal
Xceedance is exploring RPA to enhance the business processes of insurers, helping to reduce operational costs, gain efficiency and improve overall accuracy and customer experience.
Can the Lloyd’s Market Overcome the Lake Wobegon Effect?
June 30, 2017 | Justin Davies
The objective of the London Market Group’s Target Operating Model (TOM) is to ensure that risk assessment data is cleansed once and then distributed to all relevant parties, thus increasing efficiency, reducing duplication and costs and ensuring uniformity of information for the entire Lloyd’s market. Removing barriers to exposure data efficiency can only lead to an improvement in the market.
Data Precision and Timeliness Fuels Exposure Management
June 26, 2017 | Leo Lockwood
Exposure management is a vital part of the insurance industry’s service offerings. But the quality of risk data provided to underwriters is poor, with most submissions requiring significant enhancements. Even to achieve marginal gains, each part of the process needs to be examined and improved.
At the Movies: Artificial Intelligence, Robotics and the Human Touch
June 23, 2017 | Deborah Grey
Artificial intelligence and robotics are inevitably tied to our future business and personal interactions. Yet, human intuition and expertise will remain key to leveraging the decision-making benefits that will emerge as a result of intelligent technology.
CEO Arun Balakrishnan Shares Thoughts on the Future of Blockchain Technology
May 18, 2017
Xceedance CEO Arun Balakrishnan recently provided some perspective on the potential of Blockchain in insurance markets.
Startup City Covers the Unique Journey of Xceedance
May 11, 2017
Startup City magazine highlights the emergence of Xceedance as a disruptor of traditional business service models in insurance.
Xceedance Expands Industry Reach with Two New Memberships
May 1, 2017
Xceedance joins Target Markets and NASSCOM to connect with global insurance program administration markets and with the technology/business service provider community in India.
Xceedance Becomes Associate Member of AAIS
April 20, 2017
Expanding its reach as an industry-focused strategic consultancy and managed services provider, Xceedance is delighted to join the American Association of Insurance Services (AAIS) as an associate member.
To Boldly Go…
March 22, 2017 | Sachin Kulkarni
I’m a Trekkie and a pretty obsessed one at that. If you are wondering what Gene Roddenberry’s extraordinary creation has to do with insurance, humor me and I’ll explain.
Coming to Grips with the 4th Industrial Revolution
March 9, 2017 | Justin Davies
The term “Fourth Industrial Revolution” (4IR) first shot to prominence when it was the theme of the World Economic Forum (WEF) in Davos last year, and it was the subject of a short book by WEF founder Professor Klaus Schwab. It is an emerging buzz phrase among technologists, futurists, big data scientists and the digital cognoscenti. But to most people, it remains a relatively unknown concept.
Xceedance Sponsors a Leading CAT Risk Management Event
February 20, 2017
Xceedance is proud to be a silver sponsor of the CAT Risk Management & Modelling Europe 2017 conference at the Grange Tower Bridge Hotel, London, March 1-2, 2017.
The 6i Data Sciences Maturity Framework
January 25, 2017 | Rajesh Iyer
Over the past few years, I have had the opportunity to visit with a few hundred general managers (GMs) at mostly large insurance enterprises. While all were polite and patient, many expressed reservations when I tried to persuade them to make new, or deeper, investments in data sciences.
Xceedance Launches New Website
January 8, 2017
In an effort to better align our services with the insurance lifecycle and the needs of insurance organizations, Xceedance launched a new website.
Xceedance Targets a New Outsourcing Model
January 5, 2017
Reactions, one of the leading news outlets in the insurance industry, recently wrote a feature on Xceedance and its new outsourcing model.
Xceedance Featured in SiliconIndia
December 30, 2016
A blend of technical knowledge and insurance expertise has helped set Xceedance apart, according to a recent profile in SiliconIndia.
Xceedance Opens Operations Center in Poland
December 10, 2016
Xceedance announced the opening of a new operations center in Krakow, Poland, the latest in a series of international expansion steps to capitalize on new business opportunities around the world.
Technology Continues to Revolutionize the Insurance Industry
December 7, 2016 | Amit Tiwari
The insurance and reinsurance industries are awash with an enormous amount of data, much of which is not being utilized to improve the efficiency and profitability of business.
Davies Shares Thoughts on the Perpetually Soft Insurance Market
November 29, 2016
Justin Davies, newly appointed head of the EMEA region, recently shared his thoughts on the realities of a perpetually tough insurance market in an article for Global Re-Insurance.
Reversing the Standard FTE Staffing Model for Competitive Advantage
November 27, 2016 | Justin Davies
Until recently, traditional market wisdom was that insurance and reinsurance pricing moved in cycles. But the era of fairly predictable market cycles has expired with few believing it will return in a recognizable form.
Iyer Joins Xceedance as SVP, Head of Data Services
November 18, 2016
Rajesh Iyer has joined Xceedance as senior vice president – head of data sciences.
Supporting Insurance Transformation with Managed Services
November 9, 2016 | Arun Balakrishnan
Partnering with outside suppliers to improve their efficiency and save money is nothing new for insurance companies.
Xceedance Opens London Office
November 1, 2016
Xceedance recently announced the opening of its London office, a continuation of the company’s ongoing growth and commitment to expanding as a worldwide provider of insurance technology, analytics and consulting services.
Freimarck Joins Xceedance as Vice President of Business Development
October 30, 2016
The business development team at Xceedance was expanded in the summer with the addition of announce that George Freimarck as vice president of business development.
Xceedance CEO Shares Thoughts on Changing Trends in the Insurance Workplace
October 26, 2016
A while back, our CEO Arun Balakrishnan shared his thoughts with the Insurance Technology Association (ITA) on changing business and workplace trends in the insurance industry. It’s a timely topic, so we wanted to revisit it in our blog.