Global operations and analytics company EXL has acquired LISS Systems, a UK-based provider of policy administration solutions for the life and pensions industry.
LISS will become part of EXL’s insurance business unit and continue to be based in London.
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New York headquartered EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries.
Commenting on the acquisition, Guy Williams, director at LISS Systems, said: “For LISS, being part of EXL means we have access to the technical and financial strengths of a large and growing global organisation, while retaining our entrepreneurial spirit in the UK.”
Rohit Kapoor, EXL vice chairman and CEO said: “Consumers increasingly prefer using digital channels to purchase insurance, a trend that will require new business models to deliver superior customer experience.”
Kapoor added: “With this transaction, we continue to invest in the innovation that the insurance industry needs to manage the changing market dynamics of a digital world.”
LISS Systems is currently a leading advocate for bringing electronic signatures to the UK life insurance market and automates the end-to-end new business process.
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