• EXL, a global data and AI company, was recently recognized as a Leader in five quadrants of the ISG Provider Lens™ Insurance Services 2025 report, covering specialist capabilities, Life & Retirement, Property & Casualty, GenAI, Agentic AI, and Global Capability Centers.
• This leadership across multiple insurance and AI-led categories highlights EXL’s broad role in modernizing complex insurance workflows and strengthening its position as an end-to-end partner for insurers.
• Next, we’ll examine how EXL’s multi-quadrant leadership in ISG’s insurance report influences its existing investment narrative around AI-led growth.

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ExlService Holdings Investment Narrative Recap

To own EXL, you need to believe it can keep using data and AI to deepen relationships in core verticals like insurance, while defending margins in a competitive, fast-evolving market. The new ISG recognition reinforces EXL’s positioning with insurers but does not materially change the near term catalyst, which remains execution on AI-led deals, nor the key risk that rapid AI adoption could encourage clients to automate in-house instead of relying on third party providers.

The recent series of share repurchases under EXL’s US$500,000,000 buyback program is the most relevant backdrop to this ISG news, as it shows management committing meaningful capital while the company strengthens its standing across multiple insurance and AI quadrants. For investors, the combination of ongoing buybacks and external validation of EXL’s insurance and GenAI capabilities may sharpen focus on how sustainably it can convert that positioning into profitable growth.

Yet behind the strong AI story, there is a longer term risk that investors should be aware of if insurers increasingly build their own automation...

ExlService Holdings' narrative projects $2.7 billion revenue and $326.3 million earnings by 2028. This requires 10.9% yearly revenue growth and about a $90 million earnings increase from $236.3 million today.

Uncover how ExlService Holdings' forecasts yield a $52.14 fair value, a 23% upside to its current price.

Exploring Other Perspectives

Two fair value estimates from the Simply Wall St Community cluster between US$52.14 and US$57.57, underscoring how differently individual investors can assess EXL’s potential. You should weigh those views against the risk that rapid AI adoption could eventually reduce demand for outsourced services and consider how that might influence EXL’s ability to sustain its current role with large insurance clients.

Explore 2 other fair value estimates on ExlService Holdings - why the stock might be worth just $52.14!

Build Your Own ExlService Holdings Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your ExlService Holdings research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free ExlService Holdings research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ExlService Holdings' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.