SIMPLIFYING COMPLEXITY FOR THE UNITED STATES INSURANCE MARKET

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Kory Montgomery
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1 SIMPLIFYING COMPLEXITY FOR THE UNITED STATES INSURANCE MARKET

2 XCHANGING IS A LEADING PROVIDER OF OUTSOURCED BUSINESS PROCESSING, TECHNOLOGY SOLUTIONS AND PROCUREMENT FOR THE GLOBAL INSURANCE MARKET XCHANGING

3 SIMPLIFYING YOUR BUSINESS Xchanging is a business process, procurement and technology service provider. Our services and expertise are transferable: we work across multiple industries to tailor a solution which best fits your needs. This cross-sectoral business gives us a wealth of insight and expertise which helps us focus on providing services that actively deliver the business outcomes that you want not simply meeting the terms of a Service Level Agreement. Our history of deep partnerships with global insurance organizations such as Lloyd s of London gives us a unique and privileged perspective that few of our competitors can offer. Allow us to meet your needs and we will improve your processes while setting you up for future success. We are always innovating and improving for the future, looking to be the preferred service provider for the globe over. We challenge the status quo and approach our business with creativity, fresh ideas, lateral thinking and a commitment to do things in a new way. SIMPLIFYING COMPLEXITY FOR THE UNITED STATES INSURANCE MARKET 2014 XCHANGING 01

4 WHAT WE DO We are first and foremost a core insurance processing company. Our team works closely with you to identify and map out steps for improving the management of complex and peripheral back office operations. These steps for improvement include: identifying your unique needs, the scope of the project and potential avenues and pipelines developing a communication plan, and providing dedicated staff members to meet your needs. If, for example, you accept Xchanging to optimize core processes within claims, we would both file and process all of your claims and provide all of the benefits of over a decade in the market. This allows you to focus on your business by providing you with minimal expenditure, an expert workforce with over 100 years combined experience in insurance, working in the market, giving the advantage of continuous risk and change perception. As an organization we embrace speed, flexibility and customer focus, being large enough to be compelling, yet still small enough to care deeply about our clients needs, all the way to the top. Jim Sadler CIO Xchanging By bringing a multi-disciplinary approach we assess your inefficient services and implement processes and technologies to enhance efficiency and performance XCHANGING

5 WHAT WE OFFER More than 150 brokers and over 200 insurance carriers trust Xchanging to deliver back office processing for their high volume, high value and complex insurance transactions. CLAIMS MANAGEMENT Personal injury claims services Policy management, premium collection, claims management, risk management, ergonomics, return-to-work, injury prevention and training. Policy administration We offer risk capture, clearance & aggregation, document production, credit control, tax & regulatory compliance, accounting & settlement, and reconciliation services. More than 150 brokers and over 200 insurances carriers trust us to deliver back office processing for their high-volume, high value and complex insurance transactions. Broker back office end-to-end services Insurance and premium processing, claims processing and IBA/fiduciary accounting. Commercial software to provide consistent service Xuber, the product of over 30 year s insurance experience, is core system software which offers unrivalled functionality and more configurability across the entire insurance lifecycle. POLICY & CLAIMS ADMINISTRATION Netsett Net Settlement services with our innovative Netsett platform which process technical accounts and automatically settle at the right date. Unlike other platforms, Netsett will calculate the final end balance taking into account the day s transactions with all of your counter-parties and across all currencies, so only the net amount of cash required actually needs to be transferred. ACORD SERVICES ACORD4ALL ACORD4ALL offers customers a fast and efficient mechanism for converting non- ACORD messages to their ACORD equivalent. In 2011 alone, we processed over $54 billion in premiums and claims accounting transactions. FEES MANAGEMENT PROCESSING Verometrix Verometrix is our unique, integrated, end to end expert management processing solution helps control spend, removing the need for manual entry, and speeds up fee collection to as little as five days. MOBILE INSURANCE X-presso X-presso for insurance professionals allows claim handlers and insurers to view claims, policy documents, a queuing and appointments platform and much more. Business Processing as a Service End to end business services responding to urgent needs such as capital conservation, speed to market, cost control and regulatory compliance. SIMPLIFYING COMPLEXITY FOR THE UNITED STATES INSURANCE MARKET 2014 XCHANGING 03

6 OUR EXPERTISE Xchanging thrives on company challenges. We work by filling the gap in the market created by fast changing technology and complex regulation to enhance business processes and deliver solutions to changing problems. Axis Capital (US) started out as a small operation involved in equity securities and has since grown into a tenuous relationship with Xchanging. Thanks to Xchanging, the company has grown to trust us with over 100 claims a day. Our services include premium processing, claims processing and management, policy issuance and credit control. We already offer back office services to Axis and expect the scale of number of locations and services to grow as Axis business needs develop and we continue to exceed their expectations. We continuously communicate and gain feedback from clients like Axis, and receive an overwhelming reply that they are consistently happy with the service, savings and capabilities. We ve helped others such as Allianz, Toyota Insurance, Vodafone, MetLife, Lloyds, Zenit, and much more, leading to awards such as the Insurance Times E-Business Award and the Injury Support and Service Award for Excellence in multiple categories. We manage around $25bn of spend every year, we have completed over 5,000 sourcing projects that deliver savings in excess of $750m per annum. We are experts at understanding our customers business ambitions, embracing the complexity of their challenges and working with them to unlock and realise their growth potential. Insurance Day London Market Awards Technological Initiative of the Year 2012 Strategic Risk Best Business Continuity Approach of the Year Award Post Magazine s Major Loss Award Treasury Today Adam Smith One to Watch Award (Netsett) XCHANGING

7 XCHANGING PERPETUATES COMMUNITY INVOLVEMENT AND CORPORATE PHILANTHROPY AS AN EMBEDDED CULTURE WITHIN ITS ORGANIZATION. WE CONTINUALLY COMMIT TO RAISING FUNDS AND AWARENESS FOR CHARITIES IN EACH OF OUR LOCATIONS, AND BY TAKING AN ACTIVE ROLE IN THOSE COMMUNITIES BY SERVING THROUGH EDUCATION PROGRAMMES AND SPONSORSHIPS. SIMPLIFYING COMPLEXITY FOR THE UNITED STATES INSURANCE MARKET 2014 XCHANGING 05

8 OUR REACH Xchanging s principal office locations and the geographic territories where customers are served. USA Chicago New York UK Basildon Chatham Folkestone Glasgow London Manchester Preston Romford FRANCE Paris SPAIN Barcelona Madrid GERMANY Eschborn Hof Munich ITALY Milan UAE Dubai INDIA Bangalore Chennai Gurgaon Mumbai Pune Shimoga Solan JAPAN Tokyo CHINA Shanghai MALAYSIA Kuala Lumpur SINGAPORE AUSTRALIA Adelaide Brisbane Melbourne Sydney 200 West Adams Suite 1175 Chicago IL USA Telephone +1 (312) Facsimile +1 (312) Website XCHANGING 3136/1/5/14

XCHANGING. Introduction to Global Insurance Services. 10 July 2014

XCHANGING. Introduction to Global Insurance Services. 10 July 2014 XCHANGING Introduction to Global Insurance Services 10 July 2014 Adrian Guttridge - Executive Director of Insurance Services Introduction Introduction to Insurance Services Xchanging Claims Go to Market