EXL and Brown & Brown Absence Services Group Partner to Develop Integrated Disability Claims Management Technology & Services
11 January 2023 - 12:32AM
EXL [NASDAQ: EXLS], a leading data analytics and digital operations
and solutions company, announced a partnership with Brown &
Brown Absence Services Group, a provider of value-driven solutions
that meet the evolving needs of disability insurance companies and
self-insured entities. Together, the two companies will develop an
end-to-end claims management service that leverages conversational
AI and powerful analytics to improve the claims adjudication
process. This new capability will enable extracting and analyzing
critical insights from unstructured claims data to instantly tag
simple claims for immediate, automated processing and send more
complex cases to highly skilled specialists for detailed review
informed by years of claims experience.
By combining cutting edge technology with human ingenuity, the
new solution is designed to reduce costs and time spent pouring
over claims data to manually adjudicate each file. Drawing on EXL’s
deep domain expertise in disability operations and AI-powered
claims model, along with Brown & Brown’s knowledge of complex,
nuanced claims analysis and independent and reliable claims
reviews, the new solution improves workflows and delivers faster
results to end customers.
“This new technology optimizes AI and advanced analytics to
improve the speed and accuracy of claims processing, while also
including humans in the loop to focus on more complex cases,” said
Andy Logani, senior vice president, Head of Life & Annuity
Business at EXL. “This is the future of the insurance industry –
we’ve now reached a point where AI technology is able to augment
human workflows to dramatically increase the speed, accuracy and
depth of analyses required to meet the demands of the current
marketplace.”
“This collaboration will bring meaningful change to the way we
manage disability claims. Brown & Brown Absence brings highly
personalized, talent-led solutions powered by a team of over 200
physicians, nurses, and vocational professionals, along with
experienced claims analysts with an average of 15 years of
experience, and EXL brings 20+ years of experience in the insurance
industry, backed by proven data, analytics and digital
capabilities,” said Michael Shunney, chief executive officer of
Brown & Brown Absence Services Group. “The industry has been
working for years to harness the power of AI and human experience,
and this initiative is making that vision a reality.”
To learn more about individual and group life insurance
solutions, click here.
About Brown & Brown Absence Services Group,
LLCBrown & Brown Absence Services Group, LLC, is
focused on adding value across the absence continuum. We bring
industry-wide experience and extensive capabilities to deliver
value-driven solutions that meet the evolving needs of disability
insurance companies and self-insured entities. Our solutions
include SSDI advocacy, medical file review, clinical services,
advisory services, recovery services, claims management, talent
solutions, and consultative solutions. Our Medicare-focus insurance
agency, Aevo Insurance Services, LLC, provides Medicare eligibility
and policy decision advisory services. Brown & Brown Absence
Services Group, LLC, and Aevo Insurance Services, LLC are direct
subsidiaries of Advocator Group Holding Company, Inc., part of
Brown & Brown, Inc. For more information, please visit
http://www.bbabsence.com
About EXLEXL (NASDAQ: EXLS) is a leading data
analytics and digital operations and solutions company that
partners with clients to improve business outcomes and unlock
growth. By bringing together deep domain expertise with robust
data, powerful analytics, cloud, artificial intelligence (“AI”) and
machine learning (“ML”), we create agile, scalable solutions and
execute complex operations for the world’s leading corporations in
industries including insurance, healthcare, banking and financial
services, media, and retail, among others. Focused on driving
faster decision-making and transforming operating models, EXL was
founded on the core values of innovation, collaboration,
excellence, integrity and respect. Headquartered in New York, our
team is over 43,100 strong, with more than 50 offices spanning six
continents. For more information,
visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking
Statements This press release contains forward-looking
statements. You should not place undue reliance on those statements
because they are subject to numerous uncertainties and factors
relating to EXL's operations and business environment, all of which
are difficult to predict and many of which are beyond EXL’s
control. Forward-looking statements include information concerning
EXL’s possible or assumed future results of operations, including
descriptions of its business strategy. These statements may include
words such as “may,” “will,” “should,” “believe,” “expect,”
“anticipate,” “intend,” “plan,” “estimate” or similar expressions.
These statements are based on assumptions that we have made in
light of management's experience in the industry as well as its
perceptions of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
under the circumstances. You should understand that these
statements are not guarantees of performance or results. They
involve known and unknown risks, uncertainties and assumptions.
Although EXL believes that these forward-looking statements are
based on reasonable assumptions, you should be aware that many
factors could affect EXL’s actual financial results or results of
operations and could cause actual results to differ materially from
those in the forward-looking statements. These factors, which
include our ability to successfully close and integrate strategic
acquisitions, our ability to respond to and manage public health
crises, including the outbreak and continued effects of the
COVID-19 pandemic, are discussed in more detail in EXL’s filings
with the Securities and Exchange Commission, including EXL’s Annual
Report on Form 10-K and EXL’s Quarterly Report on Form 10-Q. These
risks could cause actual results to differ materially from those
implied by forward-looking statements in this release. You should
keep in mind that any forward-looking statement made herein, or
elsewhere, speaks only as of the date on which it is made. New
risks and uncertainties come up from time to time, and it is
impossible to predict these events or how they may affect EXL. EXL
has no obligation to update any forward-looking statements after
the date hereof, except as required by federal securities laws.
© 2023 ExlService Holdings, Inc. All rights reserved.
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ContactsMedia Keith
LittleSenior Manager, Media Relations+1 703-598-0980
keith.little@exlservice.com
Investor RelationsJohn Kristoff+1 212 209
4613IR@exlservice.com
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