Xceedance partners with P&C and Specialty insurers, reinsurers, brokers, and MGAs/MGUs worldwide to launch new products, drive operations, implement cutting-edge technology, and deliver advanced analytics capabilities and process optimization.
We understand the risks and opportunities of the life insurance market and work closely with life re/insurers to accelerate digital transformation, streamline risk management, optimize critical business workflows, and reimagine the policyholder journey.
Amit Tiwari, chief operating officer at Xceedance, explains the challenges of enabling business continuity plans in the face of a global pandemic and moving an international workforce of well over a thousand people to work from home in just over two weeks — while still addressing the daily needs of a global portfolio of clients.
Businesses big and small across the globe are facing unprecedented challenges in the wake of the COVID-19 coronavirus outbreak. With non-essential services closed to resist the spread of the virus, the business continuity plans (BCP) of customer-facing organizations everywhere must especially confront the dual concerns of taking care of their people and serving their customers. In all this, the insurance industry also faces the possibility of widespread claims and litigation around business continuity losses. In the U.S. alone, one estimate puts those losses at $431 billion a month. Meanwhile, insurance companies are working with limited capacities to process higher volumes of transactions, such as virus-related medical and travel claims and attending to distressed policyholders.
According to BCG, “As the world mobilizes to mitigate the impact of the coronavirus, uncertainty abounds. One thing is clear, however: the COVID-19 outbreak underscores the need for business and society to be resilient and prepared — qualities that will be in demand long after public health has been restored.”
“We have eliminated significant manual practices and streamlined our interactions with brokers and agents. The abilities of Xceedance to develop system communications and integrate automation with diverse platforms has enhanced our operation.”
Technology Officer | Global Insurance Broker
The Xceedance approach to claims automation allows us to be more responsive to the needs of our customers. Technology and consulting from Xceedance have streamlined our claims operation and support our current and future requirements.”
Head of Claims Operations | Specialty, Commercial and Personal Lines
“Xceedance delivered the exact rating and pricing solution in precisely the right timeframe. So we were fully prepared for our product launch and positioned for success. Xceedance demonstrated vast expertise and drive.”
Director of Operations | Multinational General Insurance Group
"We are pleased with the continuous productivity and collaboration between our organization and Xceedance. We are looking to expand the Xceedance team even further to support our growth strategy."
Vice President, IT | Subsidiary of a Global Specialized Casualty and Liability Insurer
“Today, we can process submissions in less than a day. Before deploying the Xceedance submission system, our underwriters were forced into administrative tasks. Now they can focus on growing our business.”
Vice President, Underwriting | Global Commercial and Specialty Lines Carrier
Proven Expertise and Value
of staff possesses significant insurance acumen
ongoing insurance operations and technology engagements
quotes delivered in 2 years for a global underwriting agency
reduction in policy issuance time for a major P&C insurer