Exela Technologies Expands Relationship with a Large Multinational Insurer in France
October 15 2021 - 8:00AM
Exela Technologies, Inc. (“Exela” or “the Company”)
(NASDAQ: XELA), today announced an expanded relationship with
a large multinational insurer based in France which provides
financial services, supplementary retirement fund, and pension
services. This expanded relationship, which originally began in
2015, will utilize Exela’s subject matter knowledge to address a
backlog of pension reconciliation cases.
Due to prior established COVID-19 relief policies in France,
pension contributions from employers to individuals were allowed to
be delayed during the worst of the pandemic. With some restrictive
policy changes now in effect, employers must resume payments and
support is often needed to review gap contribution and ensure
timely processing. Exela’s ability to be responsive using its
strong presence in France and quickly deploy subject matter experts
to address a backlog of cases greatly accelerates financial
recovery benefits to individuals.
Exela has a winning track record of supporting insurers as they
embrace digital transformation strategies to optimize operations,
process remittances, and enhance customer engagement.
Exela continues to innovate and invest in technical
capabilities to provide communication between a growing number of
constituents in the insurance industry. This latest opportunity in
France demonstrates the value Exela provides its customers through
its cross-regional strategy and ability to service multinational
insurers with evolving challenges and opportunities quickly.
“We look forward to working with our customers and others in
this rapidly expanded capacity to support their recovery projects
which have been exacerbated by the pandemic,” said Vitalie Robu,
President EMEA, Exela, adding, “This fits squarely within our
mandate of being both mission critical to systems and countries but
also doing our part to enhance liquidity within said systems
through deployment of our proprietary technologies and
services.”
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About Exela Technologies
Exela Technologies is a business process automation (BPA)
leader, leveraging a global footprint and proprietary technology to
provide digital transformation solutions enhancing quality,
productivity, and end-user experience. With decades of experience
operating mission-critical processes, Exela serves a
growing roster of more than 4,000 customers throughout 50
countries, including over 60% of the Fortune® 100. Utilizing
foundational technologies spanning information management, workflow
automation, and integrated communications, Exela’s software and
services include multi-industry, departmental solution suites
addressing finance and accounting, human capital management, and
legal management, as well as industry-specific solutions for
banking, healthcare, insurance, and the public sector. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and over 18,000 employees operating in 23
countries, Exela rapidly deploys integrated technology
and operations as an end-to-end digital journey partner
Forward-Looking Statements
Certain statements included in this press release are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "may", "should", "would", "plan",
"intend", "anticipate", "believe", "estimate", "predict",
"potential", "seem", "seek", "continue", "future", "will",
"expect", "outlook" or other similar words, phrases or expressions.
These forward-looking statements include statements regarding our
industry, future events, estimated or anticipated future results
and benefits, future opportunities for Exela, and other
statements that are not historical facts. These statements are
based on the current expectations of Exela management and
are not predictions of actual performance. These statements are
subject to a number of risks and uncertainties, including without
limitation those discussed under the heading "Risk Factors"
in Exela's Annual Report and other securities filings. In
addition, forward-looking statements
provide Exela's expectations, plans or forecasts of
future events and views as of the date of this
communication. Exela anticipates that subsequent events
and developments will cause Exela's assessments to
change. These forward-looking statements should not be relied upon
as representing Exela's assessments as of any date
subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent KondaveetiE: vincent.kondaveeti@exelatech.com
Mary Beth BenjaminE: IR@exelatech.com
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