EXL released LifePRO v. 17, the most recent iteration of the company’s policy administration system for life, health and annuity insurance. This latest version of LifePRO is a .NET application offering more than 50 business and technology enhancements to streamline processing, expand new product functionality and offer access to data; it includes support for group administration with automated census and payment import capabilities.
It includes expanded support for LifePRO's life and annuity claim calculation capabilities, including the ability to assign an overall claim record and number and to pay beneficiaries at separate times, the company said. The enhanced claim feature also supports payment of legal, medical and other fees, and configuration of state interest tables for interest on death-benefit proceeds.
“We are glad to see our clients moving so quickly to use the expanded capabilities of LifePRO v. 17,” said Keith Johnson, EXL SVP and head of life and annuities. “The new version of LifePRO extends our track record of adding powerful new features for streamlining policy administration to one of the broadest, deepest solutions available. The high number of clients planning for future upgrades also speaks to the application stability and ease of implementation of this new version.”
LifePRO includes multi-company support, billing and collections, claims processing and tax reporting; it can be installed on-site or through EXL’s private cloud. Some of EXL’s clients administer more than a million contracts on a single database, EXL said.
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