Xchanging Ins-sure Services has won the contract to supply back office services and a new underwriting solution, which is fully integrated with the Xchanging's London market central repository, to the European arm of US insurer WR Berkley.
WR Berkley Insurance (Europe), which recently received FSA approval, operates as a specialist casualty insurer in the London Market. The firm said that by partnering with Xchanging it would be using the latest technology to manage its business and allocate personnel more efficiently.
WR Berkley Insurance (Europe) chief excutive Stuart Wright said: "We set an aggressive timetable for this project and are delighted that Xchanging Ins-sure Services has been able to deliver an innovative business process outsourcing solution within our timescales.
"We believe that Xchanging's cost-effective solution provides us the flexibility to react rapidly to market opportunities and changes in the future."
Xchanging Ins-sure Services managing director John Benjamin said: "Virtually every new London start-up has taken the decision to concentrate on its core competencies, and to outsource its support services.
"Clearly, this is a business model that is immensely relevant to the global insurance market, and one in which Xchanging has a vital role to play, and we are delighted to say that the majority of start-ups have chosen us as their preferred partner."
