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Genworth Awards Supplier Of The Year Award To ExamOne

Stocks in this article: GNW

EXL: Supplier of the Year for Value Creation

EXL is a Third Party Administrator that manages Genworth's run off variable annuity business. Since the start of this relationship, beginning with the 2011 implementation and administration of Genworth's run off variable annuity business, EXL has demonstrated the ability to create value.

In 2012, EXL successfully completed the transition of all variable annuity servicing within committed timelines with no service impacts. Given the nature of the variable business, this speaks volumes for EXL's focus on training and quality.

EXL is meeting or exceeding ongoing service deliverables and helping Genworth achieve its goal of improving business performance on in-force blocks. They have helped ensure financial flexibility by supporting Genworth's reinsurance teams system migration which enhances the ability to leverage reinsurance where needed.

"This recognition from Genworth reinforces how collaborative alliances and a strong dedication to client service foster innovative solutions, enhance business performance and improve customer experience. We are thrilled to be recognized by Genworth for the business value our TPA services have delivered to Genworth's run-off variable annuities business," said Bill Bloom, president of Global Client Services at EXL

ExamOne: Platinum Supplier of the Year for Strategic Alignment and Value Creation

ExamOne is a provider of health-risk assessment services for life insurers. A business of Quest Diagnostics, the world's leading provider of diagnostic information services, ExamOne's services are designed to make the underwriting process quick and convenient for applicants, agents and homeoffices. The company has provided new business underwriting services to Genworth's Life Insurance segment since 1991, and has been an exceptional partner. In 2012 and early 2013 ExamOne helped Genworth execute against key aspects of its strategy to improve the new business profile of its life and long-term care insurance products with the implementation of IT enhanced processes like Genworth's life and long-term care insurance online quick request application process and the "My future My Plan" long-term care insurance initiative. Genworth utilized key components of ExamOne's Policy Express™ process including laboratory testing, paramedical examinations and electronic data collection.

Both of Genworth's new programs are designed to provide a time efficient, yet thorough underwriting process in a cost-effective manner supporting Genworth's distribution commitments. 

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