Aerospace

Netsett

Central accounting and net settlement services for the global (re)insurance market

The global (re)insurance market is an increasingly complex and regulated business. Integral to the success of the insurance market is the management of contractual performance and cash flow between brokers, cedents and carriers; including effective management across borders and currencies.

Netsett, Xchanging’s global initiative to address these issues, will take the benefits achieved within the London Market into the global market. Utilisation of the solution will act as a catalyst for change and provide the opportunity to achieve significant benefits across participating organisations.

Xchanging and Deutsche Bank, working with a number of global market participants and supported by the International Underwriting Association (IUA) and using ACORD messages, have validated the potential benefits of such a service. Following completion of a market study and conceptual design, the first release of Netsett is now live and in use. Additional features will be rolled out in later releases during 2013.

For an overview of Netsett and how it can help you improve operational efficiency, achieve better transparency and control and drive capital effectiveness, watch the video or download the factsheet.

To get involved, contact Richard West.

Case studies

Lockton - Delivering agility in a dynamic market
Insurance Software
Click to view Case Study
of
Close

Lockton - Delivering agility in a dynamic market

Insurance Software

CHALLENGE

Help a leading provider of ancillary medical services focus on strategic business growth without having to endure the pain of managing non-core back-end processes.

 

SOLUTION

01 Xchanging worked with client to identify opportunity areas for process transformation to drive efficiencies and business value creation

02 Leveraging a combination of process re-engineering and a balanced global delivery model, Xchanging was able to deliver significant cost savings to the client

 

RESULTS

1 From a non-standardised operation to a process with defined timelines

2 Cost-per-invoice reduction from UK£2.5 to UK£1.2

3 Productivity gains of 116%

Delivered productivity gains of
116%

Global Personal Technology Company - Perfect Product Testing
Technology Services
Click to view Case Study
of
Close

Global Personal Technology Company - Perfect Product Testing

Technology Services

CHALLENGE

To help a renowned manufacturer of laptop PCs optimise its product testing resource

SOLUTION

01 Offer immediate and attractive cost savings from our testing laboratory in Singapore

02 Demonstrate world-class credentials in Product Assurance (PA)

03 Provide the required resources for qualifying new systems, sub-systems and applications for the customer

RESULTS

1 The customer can now rely on support from over 40 technically certified professionals spread between Japan, Singapore, Malaysia and India

2 We have consistently achieved customer satisfaction levels of more than 90% in PA services

Customer satisfaction levels of more than
90%

RFIB - Flexibility and configurability to stay ahead of the game
Insurance Software
Click to view Case Study
of
Close

RFIB - Flexibility and configurability to stay ahead of the game

Insurance Software

CHALLENGE

RFIB operates in a highly complex environment that requires a seamless and integrated broking solution with multi-national capabilities.

RFIB needs watertight systems and processes to meet the stringent compliance requirements of a heavily regulated insurance market.

 

SOLUTION

  • RFIB uses the feature-rich capabilities of Brokasure to manage its entire wholesale insurance services business, including claims and policy administration for underwriting and broking.
  • Brokasure offers the automation and management of intricate end-to processing of quotes, policies, transactions and claims, often in multi-currency environments.

RESULTS

  • Enabling compliance – Brokasure enables RFIB to stay at the forefront of insurance regulations.
  • Configurability – RFIB has direct input into Brokasure enhancements through the Brokasure User Group.
  • Proactive partnership – Xuber’s continual process of review maintains efficiencies and to ensures standards of delivery.

“Xuber has a deep understanding of the challenges we face and the solutions we need to run our business,”

Mark Kinsella, Head of It, RFIB.

We use cookies to ensure we give you the best experience on our website. If you continue, we'll assume that you are happy to receive all cookies on this website. To find out more about the cookies we use and how to delete them, see our Privacy policy.