News
Xchanging to Run Axis Specialty Back-Office
10 Oct 2002
London, UK - 10th October 2002 - Xchanging, the UK's leading pure-play business process outsourcing (BPO) company, has won the contract to provide professional underwriting back-office services to Axis Specialty.
The five year, multi-million pound contract covers premium processing, claims processing and management, policy issuance and credit control. Xchanging, already delivering back office services to Axis, expect the scale of the contract, both in terms of number of locations and services to grow as Axis' business needs develop.
Axis Speciality started trading in November 2001 after raising more than $1.6billion through private placement of its equity securities. Its business focuses on property catastrophe, property risk, aviation and aerospace, and marine insurance.
John Charman, President and CEO of Axis Specialty, says, "We believe that this partnership with Xchanging will give us a world-class back office while enabling our management to focus on growing our core underwriting business."
Managing director of Xchanging Ins-sure Services, John Benjamin, says, "Xchanging will enable Axis to avoid the risk and potential inefficiencies of setting up a new back office. At Xchanging we are combining large-scale BPO resources with extensive experience of the insurance sector."
Winning of the Axis contract further demonstrates Xchanging's presence in today's insurance market. Xchanging has also been involved as an outsourcing partner in almost every new London start-up since the start of the year