Xceedance: Paving the Way for Transformation in the Insurance Industry

Xceedance: Paving the Way for Transformation in the Insurance Industry

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Xceedance began its corporate journey with a vision to disrupt the traditional service delivery models in the insurance industry. Founded in 2013, the company quickly emerged from a bootstrapped startup to become an internationally recognized brand — focused on delivering industry-knowledgeable managed services for insurance enterprise productivity and growth in the networked economy. Today, insurers on four continents look to Xceedance as an agent of positive change and disruption in the areas of operations, technology and data/analytics.

In a brief four-year period, Xceedance has become one of the most successful start-ups in the industry with a revenue of more than 100 crores. Without raising any external capital, the company has witnessed remarkable organizational and client growth, tripling its workforce in each of the past four years. Today, Xceedance employs approximately 850 professionals worldwide and continues a pattern of extensive growth by recently inaugurating an operations center in Poland to augment offices in India, the United Kingdom, and the United States.

The company’s experienced teams partner with insurers and help them to improve business productivity in an era of exciting, but volatile technological innovation in the global insurance sector. The industry also continues to face a variety of challenges, including product development and distribution, evolving policyholder expectations, regulatory considerations, legacy technology limitations, cost pressure and the scarcity of domain talent. The seasoned professionals of Xceedance manage insurance business processes, deliver end-to-end services for insurance operations and technology and apply leading-edge automation — such as robotics, machine learning, and data sciences — to insurance operations. Single-mindedly focused on organizational productivity, Xceedance provides industry-expert, consultative services to help drive client transformation from traditional insurance business workflows and practices to digital enablement and operational agility.

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Amid today’s rapid technological advancements, Xceedance supports insurers in adopting and implementing modern platforms and processes, including emerging capabilities such as robotic process automation (RPA), artificial intelligence (AI), machine learning tools and blockchain. For example, the company recently completed an RPA proof of concept for a client with impressive results and dramatic improvements in productivity and reliability for insurance policy processing. Among the findings of the RPA initiative, the time to issue a policy was cut in half; there was 100 percent accuracy in formatting, and the time to validate policy information was reduced by 90 percent.

The success of Xceedance can be widely attributed to its seasoned workforce (referred to as teammates) which brings deep-industry knowledge and a highly collaborative consulting approach to all client engagements. Learning and professional development for the workforce represent an essential foundation of the company culture. Strong emphasis on training and certification programs equips the workforce with the skills and the experience needed to make effective career choices and grow as seasoned professionals in the insurance market. As an expanding enterprise, Xceedance believes in empowering all teammates to have ultimate control of their careers. The company is dedicated to supporting the capabilities, sense of ownership and professional potential of its people. Each and every team member at Xceedance is encouraged to develop a sense of entrepreneurship in fulfilling personal goals as well as the mission and vision of the company.

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With a forward-looking approach to insurance industry trends and a high investment in the professional development of its people, Xceedance has already left an important mark on today’s insurance market. Ongoing business and technology changes in global insurance markets necessitate knowledgeable, adaptable and progressive partners for insurers. In providing enterprise-wide managed services, Xceedance continuously delivers transformational services and solutions to help insurance organizations grow and prosper.

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