Exlservice Holdings, Inc. (NASDAQ:EXLS) Q2 2019 Earnings Conference Call Transcript

Jul 30, 2019 • 08:00 am ET

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Exlservice Holdings, Inc. (NASDAQ:EXLS) Q2 2019 Earnings Conference Call Transcript

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Presentation
Executive
Rohit Kapoor

that EXL is one of the few players in the market with a full stack of analytics capabilities coupled with domain expertise, and that combination remains central to our growth's dynamic. We have the breadth and depth of service offerings to support large transformative deals in the data and analytics space across industry verticals.

Our analytics solutions encompass the core verticals of insurance, healthcare and banking, but also includes significant niche work with media, utilities and retail companies. I am pleased that our analytics business has been able to consistently grow over 15% over the past several years without increasing revenue base. Separately, today, I would like to highlight two growth areas, the expansion of our strategic partnerships with large insurance clients and our focus on technology enabled solutions to accelerate our growth in healthcare. Our largest business vertical insurance continues to grow and develop very nicely. While we are seeing strength across multiple service lines in insurance, I want to highlight our operations management business, which has grown by more than 10% annually since 2017. We now work with over 250 clients across the US, UK, Europe and Australia, which includes many of the top tier insurers in the property, and casualty and life, disability and annuity sectors.

Our market leading positioning and our ability to deliver superior outcomes across the complete value chain, allows us to win a variety of new clients globally as well as to deepen our strategic partnerships. We continue to see significant opportunities to penetrate new product lines and business functions within our existing insurance accounts. We currently provide three or more service offerings to 60% of our top 25 insurance clients.

One such example of how we are able to broaden and deepen our partnership is our long-standing relationship with a Fortune 50 insurer. Despite being a mature relationship, we have successfully increased our share of wallet across multiple business lines because of our strong understanding of the client's business. The credibility we have earned by delivering strategic business outcomes and by employing the EXL Digital Intelligence framework. We were recently named the chosen partner for the end-to-end servicing of this client's life insurance business.

We initiated this pursuit more than two years ago, when the client began looking for a partner to manage their life insurance operations. We were able to dislodge significant competition because of our domain expertise and the ability to align with the client's long-term transformational goals. The client recognized the benefit of consolidating multiple vendors to enable the transformation of their end-to-end life insurance operations with a trusted partner such as EXL.

This is a significant win for us, not just due to the size of the engagements, but also because of the significance of the long-term value; we will be able to generate for the client by managing their entire life block operations.

During the same period, we also penetrated another key buying center within this client, the CFO's office. We have recently been named their Finance