A new company claims it will unify and improve back-office services supporting the London Insurance Market.
The joint venture between Lloyd's, the International Underwriting Association (IUA) and ...
A new company claims it will unify and improve back-office services supporting the London Insurance Market.
The joint venture between Lloyd's, the International Underwriting Association (IUA) and Xchanging, is called Ins-sure Services and was launched on May 1.
With an estimated £20bn annual turnover of premiums and claims settlements, Ins-sure will start trading as one of the largest insurance service companies in the world.
Xchanging will hold 50% of the company, and Lloyd's and the IUA will each own 25%.
The processing and settlement operations of Lloyd's Policy Signing Office (LPSO) and the IUA's London Processing Centre (LPC) will be joined in the new organisation, in a move designed to improve efficiency and reduce costs in the London Market.
There are also plans to launch an Ins-sure e-business venture.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
