EXIGIS Company Profile

Background

Founded in 2002, EXIGIS, LLC is a privately owned Minority Business Enterprise headquartered in New York City, with an additional office in San Francisco, California. The company specializes in providing business process automation software and services tailored for risk management, insurance, and trade finance sectors. EXIGIS's mission is to transform risk management practices by leveraging expert business services and proprietary workflow technology to centralize and streamline complex processes. Over the years, EXIGIS has established itself as a premier risk solutions partner, serving a diverse clientele that includes Fortune 1000 companies, public entities, and global insurance brokers.

Key Strategic Focus

EXIGIS's strategic focus centers on delivering comprehensive, cloud-based solutions that automate and optimize risk management and insurance processes. The company's flagship platform, RiskWorks, is a multi-application cloud-based risk management operating system (RMOS) designed to address the unique needs of both private and public sectors. RiskWorks offers a suite of modules, including:

rm.Exposures®: Streamlines the collection, validation, and reporting of exposure data and insurance values.

rm.Policies®: Centralizes the management of insurance programs and policies.

rm.Documents®: Provides flexible content and document management.

rm.Reports®: Offers ad-hoc reporting capabilities and access to on-demand process analytics.

These modules collectively support the straight-through processing of risk and insurance data, enhancing efficiency and resource effectiveness for clients.

Financials and Funding

As of the latest available data, EXIGIS has an estimated annual revenue of approximately $870,000, with a team of around 10 employees. The company has secured funding totaling $150,000. Specific details regarding recent funding rounds, notable investors, and capital utilization have not been publicly disclosed.

Technological Platform and Innovation

EXIGIS differentiates itself through its proprietary RiskWorks platform, a cloud-based RMOS that integrates multiple applications to automate and manage various aspects of risk and insurance processes. The platform's modular design allows clients to customize solutions according to their specific needs, ensuring flexibility and scalability. Notable technological innovations include:

rm.Compliance 10.7: An advanced contract compliance and insurance certificate validation module that enhances interface and features, including aggregation of account data across multiple contracts, management of organizational unit hierarchies, adaptation of non-standard contract requirements, tracking of risk saturation levels, and process reporting and analytics.

RiskWorksPS™: A specialized suite developed for the public sector, providing risk pools, school districts, and self-insured entities with a central command-and-control system to manage discrete risk and insurance information across operations.

Leadership Team

EXIGIS is led by President and CEO Armand Alvarez, who has been instrumental in steering the company's strategic direction and growth. Under his leadership, EXIGIS has developed and launched innovative solutions like RiskWorksPS™, catering to the unique needs of the public sector.

Competitor Profile

Market Insights and Dynamics

The risk management and insurance software industry is characterized by a growing demand for automation and efficiency in managing complex processes. Organizations are increasingly seeking integrated solutions that offer flexibility, scalability, and comprehensive analytics to mitigate risks effectively.

Competitor Analysis

EXIGIS operates in a competitive landscape with several notable companies offering similar services:

Origami Risk: Founded in 2009 and headquartered in Chicago, Illinois, Origami Risk provides risk management, safety, and insurance solutions. The company has approximately 700 employees and generates revenue between $25 million and $100 million.

Riskonnect: Established in 2007 and based in Atlanta, Georgia, Riskonnect offers integrated risk management solutions. With a workforce of 1,100 employees, the company reports revenue between $100 million and $500 million.

Ventiv: Founded in 1972 and headquartered in Atlanta, Georgia, Ventiv provides risk, insurance, and claims management software. The company employs between 250 and 500 individuals and generates revenue between $25 million and $100 million.

These competitors offer comprehensive risk management solutions, emphasizing the importance of innovation and customer-centric approaches in the industry.

Strategic Collaborations and Partnerships

EXIGIS has demonstrated a commitment to addressing the unique needs of various sectors through strategic collaborations. Notably, the company partnered with a leading public sector insurance broker to launch RiskWorksPS™, a specialized exposure data management software suite tailored for the public sector. This collaboration underscores EXIGIS's dedication to providing customized solutions that enhance efficiency and resource effectiveness for public entities.

Operational Insights

In the competitive landscape of risk management and insurance software, EXIGIS distinguishes itself through its modular and customizable RiskWorks platform, which caters to both private and public sector clients. The company's focus on straight-through processing capabilities and comprehensive analytics provides clients with actionable business intelligence, enhancing their ability to manage risks effectively.

Strategic Opportunities and Future Directions

Looking ahead, EXIGIS is well-positioned to capitalize on the increasing demand for automated and integrated risk management solutions. By continuing to innovate and expand its suite of services, particularly in areas like contract compliance and exposure data management, EXIGIS can strengthen its market position. Additionally, exploring strategic partnerships and collaborations can further enhance the company's capabilities and reach, enabling it to serve a broader client base across various industries.