Business insurance outsource firm announces reorganisation

One business insurance outsource firm recently announced it will be reorganising the entirety of its commercial insurance businesses in the UK.

Business process outsourcer Xchanging released a bulletin in which it described its consolidation plans for three of its professional indemnity insurance services into one single unit.  The outsourcing firm, which has an exclusive working relationship with Lloyd’s, is combining Xchanging Claims Services, Xchanging Ins-sure Services, and Xchanging Broking Services together into what it will be calling the Xchanging Insurance Sector.

Adding that the managing director of the new combined entity will be Max Pell, the bulletin also said that the reorganisation follows on the heels of a review across the entire group.  The initiatives examined by the review could create opportunities for Xchanging to improve its customer experience, and through the combination of its UK insurance divisions into one single entity could aid towards those ends.

A single insurance conglomerate will not only drive efficiencies and synergies from shared functions and ensure the proper and appropriate management of any potential conflicts, but also remove duplication and complexity while working to reinforce the relationship to Xchanging’s other business ventures, said the bulletin.  These changes will then be used to ensure the firm’s customers reap the maximum benefits of the newly reorganised company.

Xchanging UK’s Regional Executive Director Paddy Byrne also commented that the firm recognises that its customers are looking for improved efficiences and service as the market faces some of the largest claims numbers it has seen in many years.   The combination of Xchanging’s UK insurance business divisions into one centralised sector will allow the firm to have more agility in its response to market and customer requirements, added Mr Byrne, enabling Xchanging to implement solutions and identify opportunities over the entire marketplace.

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