We have seen technology adoption in many sectors especially in last few years for better business growth. By adopting required tech solutions, insurance sector has also grown multifold. The pandemic further prompted significant escalation and prioritization of technology initiatives, leading to urgency and acceleration in the deployment of digital solutions by insurers both in India and throughout the world. Xceedance is one such leading company which offers innovative solutions for this sector who started their operation in India in year 2013 and has grown well not in India only but has registered exponential growth in global market as well. Rajeev Ranjan, Editor, Digital Terminal recently interacted with Mr. Manish Khetan, EVP, Chief Operating Officer for North America, Xceedance to know more about the brand plans. Read below the excerpts:
Rajeev: What service do you provide to clients and how does this service offering add value?
Manish: Xceedance provides strategic operations support, technology, and data services to drive efficiencies for insurance organizations worldwide. Our teams work with insurers, reinsurers, agents, brokers, and program administrators to boost operational efficiency, leveraging vast insurance and technology expertise to facilitate, automate, and optimize insurance lifecycle functions. With support from Xceedance, clients can better plan and execute their critical processes and enterprise goals for growth.
Rajeev: What made you want to work in the industry?
Manish: At Xceedance we only work with one industry, insurance. That was intentional, as our leadership team comes from the industry and has significant insight into the challenges facing modern insurance companies. Additionally, a majority of Xceedance team members started in the industry and came to Xceedance after having trained and worked at carriers, agencies, brokerages, or MGAs. This focus on insurance helps us work with our clients to solve the problems they are facing – we understand the issues with the same depth as our clients and speak the same language as they do. Many of our competitors serve multiple industry verticals and don’t have the in-depth insurance acumen we do – that makes a huge difference and highlights our organizational commitment to the insurance industry.
Rajeev: What would you say are the biggest opportunities for the market in the coming year?
Manish: There is a long-held view that companies in the insurance industry have been slow to adjust and reluctant to try new approaches to established business processes. The global COVID-19 pandemic forced a change, and many organizations pivoted to new, technology-driven solutions to reimagine their processes. Now that many organizations are returning to the office and settling back into established ways of doing business, there is an opportunity for companies who are willing to learn the lessons of digital transformation driven by the pandemic and adopt a new, flexible approach to solving business challenges. Companies willing to invest in cutting-edge technologies and new ways to solve problems will be positioned for success, and Xceedance can help them get there.
Rajeev: What plans does your firm have in place for 2023?
Manish: At Xceedance we are always looking to bring innovations and technology solutions to the insurance market. The insurance industry is diverse and unique, and the services we offer are built to be customized to address the specific challenges our clients across the insurance industry face. As the calendar turns to 2023, we plan to continue delivering on this promise to our clients – to show them the way forward and support them as they look to enhance and digitally transform their business processes.