Xceedance Launches On-Demand Services in North America

Divided into agent and broker services, CAT modeling services, and claims services, the new offering provides an a la carte option for insurers needing critical support with minimal ramp-up time.

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Prashant Tekchandani, SVP, Xceedance.

Xceedance, a Boston-based global provider of strategic insurance consulting and technology serving insurance organizations, has announced the availability of On-Demand Services for property/casualty insurance companies, reinsurers, agents, and brokers in North America.

Xceedance On-Demand Services provide an a la carte option for insurance organizations needing critical support with minimal ramp-up time and a rapid return on investment, according to an Xceedance statement. Whether utilized in times of heightened activity, such as hurricane season, to supplement internal resources, or year-round to expand capabilities, Xceedance says its On-Demand Services help organizations effectively build more capacity for high-value initiatives and business development.

“There is considerable demand in the market for specific task or process-focused insurance operations services,” comments Prashant Tekchandani, SVP, underwriting, operations, and finance and accounting, Xceedance. “Many insurance organizations are not interested in purchasing full-stack core systems or suites of products, and many have no interest in setting up labor-intensive call center operations. By making insurance lifecycle services available on-demand, we are enabling the growth of insurance organizations of all types and helping them build responsive policyholder services and a sustainable competitive edge.”

Xceedance reports that its On-Demand Services fall into three primary categories:

Agent and Broker Services: Help agents and brokers perform vital administrative tasks, including certificate of insurance (COI) management, policy checking, document management, and more.

Catastrophe Modeling Services: Combine the capabilities of a distinctive community of catastrophe modelers using the Oasis open-source platform to enable an alternative view of risk.

Manish Khetan, Chief Strategy Officer, Xceedance.

Claims Services: Provide digital-first solutions for bolstering insurers’ back-office and call center operations — to accelerates catastrophe management and fast-track claim resolution.

“On-demand services address an important need in the insurance marketplace,” comments Manish Khetan, EVP and chief operating officer, Xceedance in North America. “They enable insurers, reinsurers, brokers, agents, and MGAs to get the resources and capacity lift they need when the demand is greatest.  For those reasons, we are also excited to continue expanding our suite of on-demand offerings in the coming months, to facilitate the market expansion and service responsiveness objectives of our clients. At Xceedance, we ensure our clients can focus their time and resources on high-value tasks and critical decision-making by leveraging leading-edge, digital-first strategic operations support delivered by our team of proven insurance and technology experts.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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