NEW YORK, Nov. 19, 2015 (GLOBE NEWSWIRE) — EXL (NASDAQ:EXLS), a leading business process solutions company, announced that National Guardian Life Insurance Company (NGL) entered into a license and support agreement for EXL’s policy administration platform LifePRO®. NGL will utilize LifePRO® as its strategic insurance platform for both its current business and policies recently acquired from Madison National Life Insurance Company (MNL).
In July, NGL announced it had acquired Madison Life’s individual life and annuity business, which consisted primarily of ordinary life, universal life and annuities representing 280,000 policyholders. NGL plans over time to migrate its existing policies to LifePRO from the company’s current system. MNL, as well as the blocks acquired by NGL, were already supported by the LifePRO® platform.
“National Guardian Life is excited to leverage LifePRO® as the strategic policy administration platform that will allow us to consolidate all our business into a single system,” said Gary Means, Vice President, Information Services at NGL. “The true value of technology comes down to its ability to deliver results. LifePRO® will provide a foundation to bolster an already tight focus on customer service, while allowing a flexible platform to achieve our growth and operational goals.”
Based in Madison, WI, NGL is consistently rated as one of the country’s most successful independent mutual life insurance companies. NGL has received an A- (Excellent) rating from A.M. Best. With a mission to partner with customers to share in life’s financial risks and rewards, NGL provides preneed (funeral) insurance, individual life & annuities and group benefits such as vision and dental products to over one million policyholders.
“We are delighted to add National Guardian Life to EXL’s insurance customer community,” said EXL’s Keith Johnson, Senior VP of Life and Annuities. “NGL will benefit from our continued investment in the platform as we develop additional business functionality to support life, health, annuity and preneed products and continue to implement our strategic technology roadmap.”
LifePRO® is an end-to-end insurance administration platform that supports new business, agent and commission management, policy administration, billing and collections, claims processing, reinsurance and client management. More than 40 life and annuities insurers manage policies on LifePRO® platform.
About National Guardian Life
Founded in 1909, NGL is a mutual insurance company located in Madison, Wisconsin. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life & annuities as well as group market products through independent agents. At NGL, it’s about people. We also recognize that caring for our community is an important part of doing business and we proudly support over 70 causes and non-profit agencies on an annual basis. For more information, visit www.nglic.com.
National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.
EXL (NASDAQ:EXLS) is a leading business process solutions company that looks deeper to drive business impact through integrated services and industry knowledge. EXL provides operations management, analytics and technology platforms to organizations in insurance, healthcare, banking and financial services, utilities, travel, and transportation and logistics, among others. We work as a strategic partner to help our clients streamline business operations, improve corporate finance, manage compliance, create new channels for growth and better adapt to change. Headquartered in New York and in business since 1999, EXL has approximately 23,500 professionals in locations throughout the U.S., Europe, Asia, Latin America and South Africa. For more information, visit www.exlservice.com.