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EXL Introduces New Version of LifePRO Policy Platform

Staff Writer | July 10, 2017

EXL announces the release of Version 19 of LifePRO, EXL's policy administration platform for life, health, and annuity insurers. The new version includes enhancements in its ability to manage complex investment products, such as variable and registered index annuities. Version 19 also includes upgrades to the customer care portal, claims efficiency features, and IT security. 

"EXL continues to innovate LifePRO, one of the most widely accepted platforms in the market," says Keith Johnson, senior vice president and business head of life and annuities for EXL. “Carriers are delivering innovative products to meet an increasingly competitive marketplace.  We are continuing to enhance LifePRO to support these needs so carriers can more quickly and effectively meet the needs of their consumers.”

Key features within LifePRO Version 19 include:  

Annuity Product Features

  • Enhanced ability to define and model investment allocations
  • Annuity claims administration frameworks that allow policies to remain in force until proceeds are paid
  • Support for inherited IRA’s including stretch, deferred and continuation of contract
  • Expanded product feature support for registered indexed annuities
  • New owner annuitant change features                  

Quick View Portal for Streamlined Access to Customer Data View

  • A portal-based interface powered by new web services functionality to streamline customer views and access to key policy data                 

Enhanced Active Directory Security Management

  • Flexible group definition for simplified user role and group maintenance
  • Single sign on functionality                

Policy Administration Features

  • Benefit change and termination request via SQL table
  • Reversal support for electronic payments including automated policy reissue and reactivation

With on premise or cloud-based deployment, LifePRO features end-to-end policy administration, new business, billing and collections, agency and commissions, claims processing, and reporting including analytics. Mid-sized and large insurers use the platform for open and closed blocks of life, health and annuity products.

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