The new version of LifePRO® brings 47 business enhancements that offer a wide variety of new administration and product features, including advanced support for annuities with living benefits , enhanced RMD (Required Minimum Distribution) calculation capabilities, and improved support for long term care, dental, vision and hearing claim adjudication. LifePRO® Version 16 offers role-based data masking and database encryption of sensitive customer information, incorporates performance enhancements that further increase scalability and includes new APIs for In-force Policy Re-projections, Death Claim Quotes, Surrender Quotes and Health Policy Re-quotes.
Pavan Bagai, Chief Operating Officer of EXL said, “The new version of LifePRO® is a result of hard work by the EXL LifePRO® team. We analyzed industry trends and incorporated feedback received from clients to keep pace with changes in their business. We will continue to invest in LifePRO® with a focus on enhancing its capability to stay ahead of the curve in addressing challenges faced by insurance companies”.
“In the past few years, there has been a profound interest in the ability of an insurance company to protect customer data. LifePRO® Version 16 helps our clients address such concerns effectively,” commented Bill Bloom, Executive Vice President, Global Client Services, EXL.
Rick Briggs, Senior Vice President, EXL LifePRO®, said, “We are very pleased with the enhancements made in LifePRO® Version 16 that have significantly improved the performance of LifePRO®. What is even more important is that the new data encryption capability in the new version will increase the ability of our clients to protect the confidential information of their customers.”
LifePRO® is an administrative solution, developed specifically to take advantage of client server technology, providing flexible support for an extremely broad range of life, health and annuity products. LifePRO® streamlines policy administration through features such as a flexible product engine, real-time customer service and extensive agent compensation support.