Within Technology Services, our focus for 2022 is on finance & accounting related technology solutions, low code no code platform offerings, and automation testing.

Finance and Accounting is quite critical function within any insurance organization and our focus in 2022 is on enhancing our expertise in this area, to deliver better F&A linked technology solutions to our clients. 

Low-code platforms provide our team with significant development leverage, allowing everyone to focus on actual business needs rather than the mechanics of software development. Adoption of such technologies improves agility, decreases cost, increases productivity, improves customer experience, improves risk management & governance, and accelerates transformation.

Testing is a big part of what we do, and we are always exploring ways to replace repetitive processes like test data creation, sanity testing, and regression testing. The objective here is to do away with the mundane tasks and use that time and mind-space on something more challenging.

See the full range of technology services offered by Xceedance.

The Insurance Business Solutions team provides end to end services across the entire policy lifecycle, and beyond. Our capabilities include onboarding, submissions clearance, risk selection, assessment and pricing, policy issuance, policy servicing, endorsement and renewal handling, managing premium collection, billing, agent commission, generating bordereau reports, handling policy claims processing and pay-out, and managing finance and accounting. We do it all, adopting the right technological interventions where needed. In addition, we also provide other value-added services like detailed submission and portfolio analysis, analyzing partner performances and performing claims analytics. Our team members are adept in providing product design support and assists underwriters with onboarding/migrating to a new PAS along with conducting business UAT. 

Our top priorities for 2022 include: 

• Driving tech-enabled operations to ensure that future of insurance leverages technology, combined with our team’s insurance expertise, to automate processes and create capacity for insurance professionals to focus on more meaningful, and valuable, tasks.
• Providing on-demand services with minimal training requirements and no minimum volume guarantees for policy checking, certificate of insurance issuance, triaging and claims services
• Providing right-shore services through our global delivery centres to meet each client’s unique requirements
• Adding new capabilities, including run-off and HR operations support

Learn about the on-demand services offered by Xceedance.

With the addition of several leaders to the A&A team, Xceedance is partnering with clients to provide actionable insights into business results. From business planning to pricing, reserving and staff enablement, we continue to support different functional areas to create efficient processes, address resource needs and support initiatives geared at lowering combined ratios.

Led by Kim Ward, our Pricing and Growth Analytics capability helped clients expand into new lines/territories. In addition, our partnership with Akur8 (an AI based pricing platform) helped us to quickly develop pricing models aimed at providing more granular pricing and minimizing adverse selection. Led by Betsy Branagan, our Reserving and Claims Analytics capability can provide clients with reserve analysis and actuarial opinions required by state insurance departments and for internal financial purposes. We continue to develop claims analytics solutions that can be used to enhance claims best practices and provide insights for setting future case and IBNR reserves. From an admitted market management perspective, we provide state filings support, ISO/bureau monitoring and statistical reporting support. Our team is experienced in interacting with different departments of insurance to respond to inquiries/objections and transmitting statistical reporting data to different bureaus.

With over 50 years of carrier experience, our team understands the issues faced by our clients firsthand and can offer solutions that complements their organizational and operational framework.  

Discover how the actuarial and analytics team from Xceedance can benefit your organization.

Discover how digital-first claims TPAs are re-defining how claims are managed. 

The Xceedance Data & AI Support team is building on its track record of partnering with clients for various services and technology applications, focusing on expanding the team’s capabilities in 2022. Our team of business-driven data scientists is expanding with the addition of AI experts, many with advanced degrees in Data Sciences, Operational Research and Statistics. 

To stay competitive in the digital economy, the company’s internal processes and products need to be smart and efficient — traits that come from better usage of data and AI.  The data sciences team at Xceedance works toward incorporating AI into the core of all aspects of decision-making—from strategy to operations – supported by key performance indicators that align data-driven decision-making. We identify pain areas and build a use-case library to help our clients execute their unique data and AI strategies successfully. Our approach is to partner with clients to understand their needs and drive the data and AI approaches that make sense. We specialize in finding the ‘most practical solution’ by amalgamating our core business specialty with AI and Technology expertise to help insurers harness potential of both traditional and non-traditional data in a systematic way. This allows for faster, more accurate and consistent processes across full life cycle. 

Learn more about successful adoption of AI for insurance.

Discover how digital-first claims TPAs are re-defining how claims are managed. 

The Xceedance Digital Solutions team has a singular vision: to accelerate the transformation of re/insurance processes to help insurance organizations benefit in the digital era. With our deep domain expertise and vast technology experience, we help clients advance along the digital maturity curve by delivering superior organizational productivity, accelerating time to market, and boosting cost efficiency. 

For 2022 our focus includes helping clients to leverage our suite of digital solutions, including workflow management, extraction and compilation of losses, virtual assistant, and financial reconciliation tools, to improve operational efficiency and enhance policyholder experience. Additionally, we continue to explore new digital solutions that meet the needs of today’s forward-thinking companies. 

Download the latest whitepaper, The Future of Insurance is Digital.

 

To learn more about any of the Xceedance capabilities highlighted above, or to discover new ways our team can help your organization succeed in 2022, connect with your Xceedance delivery leader. 

Discover how digital-first claims TPAs are re-defining how claims are managed.