Alula announces the launch of Exergy Eclipse at Re-Imagining Insurance Through AI 2.0 Event

Johannesburg, November 6, 2024 – Alula announced the launch of Exergy Eclipse, the latest version of our internationally recognised policy administration solution, at the Re-Imagining Insurance Through AI 2.0 event hosted at Microsoft. This significant release marks the introduction of a new celestial-themed versioning, symbolising innovation, transformation, and expansion. Exergy Eclipse is the first version of the new Exergy. It marks the start of a journey that began over 24 months ago with a decision to make a significant investment into Exergy, ensuring that Exergy not only retains and builds on the experience and richness of functionality but also embraces the latest in technology. The Exergy name has been retained to signify our experience working with over 60 insurers across almost 20 countries. The name Eclipse has been added to label the first version of this new and exciting future for Exergy.   

Exergy Eclipse, much like the awe-inspiring celestial event it is named after, represents the alignment of our past and our future paths. This release introduces several key features designed to operate in a digital world and drive greater value for our customers. It forms the foundation of the future of Exergy:
- Cloud native: Exergy Eclipse leverages cloud-based technology to ensure scalability, flexibility, and future readiness. By embracing cloud-native architecture, we are enhancing current capabilities and setting the stage for future innovations. For life insurers, cloud technology means modernisation, improved operational efficiency, and enhanced customer experience. It also ensures robust data security and compliance. The cloud provides a platform for integrating advanced technologies like AI and machine learning, driving innovation and offering new products and services.
- Digitally transform your business: Modernising specific segments of the insurance value chain through integrating our modular platform with current legacy systems. This approach allows you to enhance your solution, digitally improve client and intermediary experiences, and avoid a complete overhaul of the legacy system. Layering Exergy Eclipse onto the legacy system, Exergy can handle customer, servicing and intermediary interactions while asynchronously transferring policy data to the legacy system for backend tasks like bulk collections, accounting and reporting.
- Modular design: The modularised structure of Exergy Eclipse allows for utilisation in specialised areas, ensuring that it meets specific needs. This design approach provides flexibility and adaptability, enabling users to customise their experience based on their unique requirements.
- Artificial Intelligence (AI): Incorporating AI into Exergy Eclipse enhances its capabilities and provides advanced features that drive greater value for our customers. AI-powered functionalities include predictive analytics, which leverages AI to forecast trends and make data-driven decisions. Automated workflows use AI to streamline processes and reduce manual intervention, increasing efficiency. Additionally, AI enhances the customer experience by personalising interactions and providing tailored solutions through AI-driven insights. These advanced features ensure that Exergy Eclipse remains at the forefront of innovation, delivering exceptional value to our customers.

Exergy Eclipse will be available to customers starting November 20, 2024.

Looking ahead, Exergy Eclipse will ship with preconfigured integrations into external systems and data sources, allowing you to have one platform where all services are managed on your behalf. These include KYC, AVS, AML, PEP, and Sanctions Screening as well as Astute, Credit Bureau, and Health Risk Scoring services, which enable you to manage your policyholder risk centrally. These advanced capabilities will enhance operational efficiency, set a new standard for innovation, and create enhanced customer experiences. Some of the areas we are exploring for future releases include:
- Exergy Copilot: Our vision is to integrate an Exergy Copilot that enables users to interact with the system in a conversational style. This innovative approach will streamline processes, making them more efficient by reducing the time and effort required to complete tasks. By leveraging natural language processing, users can easily access information, perform complex operations, and receive instant support, ultimately enhancing productivity and user satisfaction.
- Robust Data Analytics: We are developing robust data analytics capabilities that enable insurers to gain a complete view of their business, operationalise insights, and make informed, data-driven decisions. This will empower insurers to better understand their operations and improve decision-making processes.
- Low-Code/No-Code Configuration Tool: We are also working on a low-code/no-code configuration tool that empowers users to support the business with minimal technical expertise. This tool will shorten the speed to market for new products, allowing insurers to quickly adapt to changing market demands and stay competitive.

Event Highlights: The Re-Imagining Insurance Through AI 2.0 event explored how technology, AI, and automation are pivotal to the future of life insurance. Key topics included:
- Technology as a Growth Driver
- AI in Customer Experience
- Automation for Sustainability

Attendees from a number of leading financial services companies gained insights into the latest advancements in life insurance technology and how they are shaping the industry. Alula showcased how our innovative solutions address current opportunities and challenges faced by insurers, driving digital transformation in life insurance.

About Exergy: Exergy is a comprehensive policy administration solution that caters to Retail Life, Corporate Life and Pensions, Annuities, Credit Life, and Funeral products. Designed for the modern insurance landscape, Exergy streamlines operations across the insurance value chain. With features like automated workflows, Exergy significantly reduces administrative burdens, allowing teams to focus on strategic initiatives and customer service. Additionally, Exergy's flexible billing and configurable product options ensure that every aspect of your insurance offering is optimised for both operational excellence and customer satisfaction.

For more information about Exergy Eclipse and our solutions, please contact:
Alula: info@alulatechnologies.com