Xchanging, the business process, procurement and technology services provider and integrator, has won the 2012 Insurance Day London Market Awards Technological Initiative of the Year in recognition of its implementation of ECF2. The award acknowledges initiatives that ‘redefine the industry’s competitive landscape and raises the bar for customers’ or partners’ expectations. The award may be for a system developed in-house or purchased, a business process outsourcing solution or a combination of these elements.’
Geoff Kennard, Electronic Services Director at Xchanging said, “Xchanging has worked tirelessly over the last year to update the ECF system and implement a newer, more efficient version across the London market. ECF2 has resulted in better quality, consistency, and efficiency of service, placing Xchanging at the forefront of the London market’s modernization strategy. We are very pleased that our efforts have been recognized.”
ECF2 was designed in conjunction with 25 leading market claims experts and has helped customers deliver more effective claims management; improving productivity and thus further reducing processing times. The London Market Association notes that as a result of the ECF improvements, end-to-end transaction times saw an average improvement of 15% during 2011.
