News
Xchanging’s Xpresscheck helps market achieve compliance goals
21 Apr 2008
The requirement for transparency and the constant pressure to address perceived service performance issues in the London Market requires both innovative solutions and a willingness to change.
Xchanging’s XpressCheck, an on-line preliminary contract checking service, has proven its value to subscribing brokers and underwriters with its ability to receive wordings electronically for processing and verification, before facilitating the storage and sharing of documents in a structured area in the Market Repository.
Roger Townsend, an Executive Director of Xchanging said: "Providing the Market with confidence in the proposed policy wording at the earliest stage is a key factor in achieving compliance goals. Our XpressCheck solution delivers improved compliance and has been proven to decrease the operational and legal risks to brokers and carriers. We now deliver much enhanced service levels through slicker processes and increased visibility, both pre-bind and post-bind. XpressCheck has helped identify a number of quality issues in the placing process - and when combined with our IRIS Worldview software - underwriters can readily leverage their skills.
We are committed to the delivery of radical service-level improvements combined with dramatic cost efficiencies to drive down the frictional cost of trading in the Market. As one of the world’s largest providers of policy checking and premium collection services, with over 400 insurers, managing agents and syndicates as customers, Xchanging is at the forefront of delivering sustainable Market enhancements."
Andy Stears, Operations Director of Ascot said: "Ascot chose Xpresscheck because of the store of embedded knowledge contained in the Xchanging staff in Chatham. The scalability of resource in Chatham allows Xchanging to respond quickly even under stress-load conditions - I was pleasantly surprised that Xpresscheck coped admirably with the high volume of business transacted through the renewal season, where all SLAs were exceeded."
For further information, please contact:
Ross Gow, Cubitt Consulting
+44 (0)7778 755 251
ross.gow@cubitt.com
About Xchanging
Xchanging is a fast-growing international, pure play business process outsourcing (BPO) company with blue-chip customers. Xchanging provides complex industry specific processing to the banking and insurance industries and procurement, finance and accounting, and human resources services to customers across industries.