News
Xchanging scoop ACORD awards in Las Vegas
19 May 2008
LAS VEGAS: 19 May 2008
Xchanging has won two ACORD 2008 Accomplishment Awards in the categories Industry Leadership for Straight Through Processing and Outsourcer.
The ACORD awards seek to recognise companies that are industry leaders the use of ACORD international insurance standards to accelerate and optimise business processes with their trading partners.
Roger Townsend, an Executive Director of Xchanging said: "We feel honoured to win these prestigious Awards which illustrate Xchanging's work with the London Market in general and partners such as Aon to drive market reform. They also illustrate the investments that we are making in new technology to drive process efficiency."
The Industry Leadership for Straight Through Processing award was made for the ELPAN2 project which, in partnership with Aon, used the ACORD RLC standard to reduce errors and speed premium processing.
The Outsourcer award was for the Xchanging's work with the Insurers' Market Repository to eliminate paper from the London Market claims process. Over 75,000 ACORD electronic messages per week are now submitted from more than 100 brokers to the Insurers' Market Repository making it the highest volume commercial insurance platform in the world.
Ian Summers, Director of Change Strategy at Aon commented: "These awards recognise the significant progress being made by Xchanging to improve the efficiency of our marketplace, but more importantly, the move towards a truly international infrastructure."
For further information, please contact:
Ross Gow, Cubitt Consulting
+44 (0)7778 755 251
ross.gow@cubitt.com
Notes to editors
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.