Underwriting Risk Services (URS), a subsidiary of Talbot Underwriting, has appointed business process outsourcing company Xchanging to run its key back-office professional services.
The deal will see Xchanging manage all accounting and market documentation preparation and processing. This includes credit control and settlement and distribution of funds to the supporting markets.
Xchanging will also be responsible for claims settlements from supporting markets.
URS managing director Nick Hales said: "Their [Xchanging's] investment in time and effort will ensure a seamless transition into this new processing framework."
Xchanging managing director John Benjamin said: "In the last three months, Xchanging has secured a number of contracts, which show brokers and underwriters want greater value from support service.
"They believe outsourcing specialists will do the job better."
