Media
COLLINS Moves Forward With Xchanging
07 Jan 2008
MINNEAPOLIS U.S.A., 07 JANUARY 2008
Collins, one of the fastest growing reinsurance intermediaries in the United States, and Xchanging, the international pure play business process outsourcing company, announce the successful implementation of Xchanging's Brokasure Enterprise software, which became fully operational at Collins in late 2007.
Collins is using Brokasure Enterprise to process business in 14 offices including Bermuda and London, replacing several legacy systems. Rationalising onto a single business solution enables Collins to increase its corporate efficiency and construct a platform for e-commerce as well as future expansion.
Xchanging's Brokasure Enterprise package is the London Market's premier application for international broking organisations. Collins partnered with Xchanging to enhance Brokasure's reinsurance processing capabilities to meet the unique requirements of the US marketplace. Xchanging worked closely in tandem with Collins' business practitioners in developing this world-class product that was delivered on schedule and in a cost-efficient manner.
David Andrews, Chief Executive Officer of Xchanging, said, "Collins represents our first reinsurance intermediary partner in the US. This successful implementation further demonstrates Xchanging's expertise in and commitment to the US market and our ability to deliver strategic solutions around the globe."
Vibhu Sharma, Executive Vice President and Chief Operating Officer, Collins, said, "Xchanging acted like a true partner, understanding our needs and delivering a large, complex enterprise application that will help us serve clients in multiple business segments".
"Given the success of the implementation and the ease of working with Xchanging, we are pleased with our choice of Brokasure Enterprise as our solution and Xchanging as our business partner," Sharma said.
For further information, please contact:
Ross Gow, Cubitt Consulting
+44 (0)7778 755 251
ross.gow@cubit.com
Notes to editors
About Collins
Collins (John B. Collins Associates, Inc.), established in 1987, is a privately-held company that places reinsurance coverage for companies in the property-casualty, life, and accident & health insurance markets. The company's 190 employees work from 12 offices in the United States - including the Minneapolis headquarters - as well as in London and in Bermuda.
Collins has several specialty areas, including professional liability, workers' compensation, commercial earthquake, Florida property catastrophe, programs, industry loss warranties and governmental programs (for example, state workers' compensation funds). The company's business areas are supported by a full complement of catastrophe modelling and other analytical services
About Xchanging
Xchanging is a fast-growing international pure play business process outsourcing company providing complex industry specific processing to the banking and insurance industries such as securities processing, commercial insurance premiums and claims processing. We also provide procurement, finance and accounting, and human resources services to customers across industries.
Brokasure Enterprise is a comprehensive insurance software solution for the International Insurance and Reinsurance Intermediary It meets current U.K. regulatory requirements and is continually enhanced to meet the requirements of other territories and the requirements of the London Market reforms. The solution delivers efficiencies for insurance practitioners through the automated processes of the entire insurance broking life cycle. Brokasure Enterprise development, delivery and software support processes are compliant with ISO9000 and BSI's audit processes.