Prime Technology Group, a 20-year-old technology solutions and services company, launched an independent software company - Xemplar Insights, LLC. This company will operate as a wholly owned subsidiary of Prime - with a sole focus on development and growth of their flagship Xemplar Solutions. The solutions suite includes its popular insurance risk management solutions - Xemplar Auto and Xemplar Fleet, which are already selling in the market. These smartphone and cloud-based solutions were made commercially available from early 2017 to help auto insurers get meaningful insights into their in-force book of business and create strategies to improve road safety, curb losses, and enhance customer experience. These solutions took shape at Prime’s Insurance Solutions practice, based on extensive research and market tests, to deliver business outcomes in the areas of loss prevention, premium leakage, and customer service with one simple solution.
SriKrishna “SK” Tirumala, EVP of Insurance Solutions at Prime commented, “Xemplar product suite has been rapidly picking up steam as more insurers are turning to find innovative solutions to fight depleting margins in a highly competitive market. Being spun into a separate company provides Xemplar Insights the required autonomy for scaling the current business, and also to add new products to its portfolio.”
The newly formed company will operate out of Prime’s headquarters, with nearly 50 resources spread across various parts of the United States and India. The company has ambitious plans to accelerate growth and become entirely independent as soon as possible. Over the course of the year, it plans to forge new partnerships, launch new solutions, and penetrate international markets as well.
Sudhakar Goverdhanam, CEO of Prime Technology Group, added “Insurance is a happening place with a huge upsurge in InsurTechs and startups to transform the business for the future. We believe Xemplar business will have significant growth in the upcoming quarters and needs to have the freedom to adjust and scale to meet this demand”.
About Xemplar Insights
Xemplar Insights, LLC is a wholly owned subsidiary of Prime Technology Group. The journey began in early 2015 while experimenting with smartphone technology to analyze motion patterns that led to developing an innovative and economical solution for risk management and customer engagement. Xemplar solutions are designed to provide simple yet powerful features - to curb unsafe driving habits and offer auto insurers with new data to analyze the health of the book and to predict losses with real evidence of risks taken by the insured. The solutions are highly configurable and customizable to suit every Insurance carrier’s appetite and objectives. With teams located in the United States and India, Xemplar solutions can support any global Insurer to transform how they manage risk in the Auto line of business.
About Prime Technology Group
Prime Technology Group is at the forefront in rapidly expanding development and application of new technologies and operating models intended to transform the Insurance industry ecosystem. Headquartered in Wayne, PA, Prime Technology Group is a highly diversified IT solutions company that combines innovation, deep industry expertise and a passion for client success. Founded in 1999, Prime serves the global markets in Healthcare, Insurance, Finance, and IT consulting services with a collaborative workforce of more than 500 employees worldwide. The breadth and scope of Prime’s global enterprise consistently strive to ensure cost-effective business processes and unleash new opportunities for growth.
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Personal Auto insurers and Agents can harness the power of this configurable digital platform to advance their digital strategy, while simultaneously increasing customer engagement. Platform provides the capability to gather new risk data to develop new insurance products and services.
Commercial Auto insurers and MGAs can discover the true potential of data to explore new opportunities for risk management and enhanced service for their commercial accounts, who in turn can implement additional safety controls within their fleet to lower the risk exposures.
Xemplar Drive - Business
Commercial businesses operating a fleet of vehicles can now monitor the driving habits of their drivers - to reduce risks of drivers, vehicles and the goods within. This is a direct-to-business telematics solution can help organizations improve their bottom-line.
Xemplar Drive – Family
Parents can now leverage the same technology to help coach young drivers in the family, using this direct-to-consumer offering for a low-monthly fees, with no long-term commitments.
Our journey began in early 2015 while experimenting with smartphone technology to analyze motion patterns that led us to develop an innovative and economical solution for risk management and customer engagement. By the summer of 2016, we released the first generation product for a market test with beta customers. Based on the feedback, new ideas and more research, we launched the second generation solutions in April 2017.
Xemplar solutions are designed to provide simple yet powerful features - to curb unsafe driving habits and offer auto insurers with new data to analyze the health of the book and to predict losses with real evidence of risks taken by the insured. Our solutions are highly configurable and customizable to suit every Insurance carrier’s appetite and objectives. It is economically priced to deliver high-value at low cost. With teams located in the United States and India, Xemplar solutions can support insurers and commercial businesses of any size, to transform how they monitor manage driving related risks.