Media
Xchanging extends relationship with QBE European operations
02 Sep 2009
London, 2 September 2009 – Xchanging, the global business processing company has signed an agreement with QBE European Operations (QBE) to deliver a unified technology solution for their European commercial property and casualty business. This makes QBE the first customer to benefit from Xchanging's new .NET Insurance Application Platform (XIAP).
As part of the new agreement, QBE has licensed the first 'front-office' modules of the XIAP platform. QBE will benefit from a unified, multi-channel solution for the submission and quote phases of the insurance life-cycle together with a flexible messaging solution for e-business, allowing it to keep pace with initiatives that are progressing in the London Market. QBE also have options on the remaining XIAP modules as these are developed.
Xchanging Insurance Application Platform (XIAP) is a state-of-the-art componentised solution for insurance practitioners covering all non-life classes of business globally. The XIAP solution responds to market demands for an innovative insurance technology solution with increased flexibility to maintain competitive edge. It builds on the “multi-class, multi-currency, multi-geography" concepts of Xchanging's existing Genius solution. Principal new features include: e-business readiness; flexible user experience for both internal and external users and process automation.
XIAP facilitates customers to offer insurance products through multiple market channels such as via the internet, broker portals as well as through traditional market channels. It will interface with Xchanging's existing technology products such as GENIUS and IRIS as well as with other systems where required.
Commenting on the agreement, Kathy Lisson, COO of QBE European Operations said, “We have significant growth plans across our markets and products. Innovative technology is key to support this growth. As a long term customer of Xchanging and major user of the Genius and IRIS systems, we are pleased to play a part in shaping Xchanging's XIAP programme. I am very excited about the benefits of a new flexible front-end platform to enable our underwriting staff to serve their customers more effectively in our specialist insurance and reinsurance markets, and believe that innovations in integrating electronic messaging will be of real value to the wider insurance community as a whole."
John Harkin, Head of Software for Xchanging added, “QBE has been a customer of Xchanging for over 7 years, and this agreement represents a new milestone in a long-standing and successful relationship. We are extremely pleased to have the support of QBE for our new XIAP programme. XIAP is being delivered through a strategic multi-million investment programme by Xchanging's technology business which incorporates both the Insurance software business and the technology assets that the recently acquired Cambridge Solutions brings to Xchanging. I am excited about the opportunities it creates for the business and our customers."
For further information, please contact:
Xchanging
Meeta Thareja
Telephone: 020 7780 5374
Tulchan Communications
David Allchurch
Stephen Malthouse
Telephone: 020 7353 4200
QBE (through Haggie Partners)
Henny Breakwell
Telephone: 020 7417 8989
About Xchanging
Xchanging is a fast growing, pure play global business processor with blue chip customers. We provide complex industry specific processing services to the banking and insurance industries as well as procurement, finance and accounting, and human resources services across industries. The insurance technology business of Xchanging develops, implements and supports innovative software solutions for brokers, underwriters and reinsurance companies operating in the global Property and Casualty markets. Xchanging's software solutions are installed in over 250 customer sites across 40 different countries.
About QBE
QBE Insurance Group is Standard & Poor's 'A+' rated and is one of the world's leading international insurers and reinsurers, headquartered in Sydney, Australia. We operate out of 45 countries across the globe, with a presence in all key insurance markets, and are lead underwriters within our chosen markets, setting rates and conditions. For the year ended 31 December 2008, the company underwrote gross written premium totalling £6,025 million and held shareholders' funds of £5,364 million.
QBE's European Operations, which accounts for almost 40% of QBE Group turnover, is a leading specialist in London market and European commercial lines business. Active in both the Lloyd's and company market, QBE offers considerable diversity to the broking community, via eight product-focused underwriting divisions - casualty, QBE Re Europe, property, motor, marine & energy, specialty, aviation - all operations have the ability to write on both Lloyd's and company market paper.