(Image source: EXL homepage.)
EXL, a New York-based services and software company with an emphasis on operations management and analytics, has launched an international version of its analytics-driven subrogation platform Subrosource.
Brad Burdick, SVP and Head of Insurance Platform Services, EXL.
Subrosource, which the vendor says processes 12 percent of all subrogation transactions in the United States, provides triage, assignment and scoring capabilities for recovery opportunities. EXL reports that the platform has now been deployed across the UK, Europe and Asia following significant updates that allow insurers to manage international currencies and the nuances of subrogation processes around the world.
“Delivering more than $500 million in savings to our clients since we started this journey, we are excited about how our technology and embedded lifecycle analytics have improved recovery outcomes,” comments Brad Burdick, SVP and Head of Insurance Platform Services, EXL. “Recovery represents a distinct opportunity for insurers but often requires greater investment and capability in order to drive the additional recoveries. We continue to invest in advanced approaches to serve this market, and we look forward to expanding this capability to an underserved global market.”
EXL reports key new features within Subrosource as follows:
- International capabilities across demand generation, case management and currency management
- An enhanced integration framework to simplify and speed integrations
- Deeper lifecycle analytics for all phases of recovery processing, including identification, inventory management and arbitration
- Support for salvage recovery and total loss management
- Commercial deductible recovery capability
- Liability deductible business processes supported across multiple countries and claim systems
- Insurers leverage Subrosource as part of a business process-as-a-service (BPaaS) model or via cloud deployment.