Xchanging, a global business processing services company, has partnered with Microsoft for a three-year, GBP7.5 million investment program geared towards the enhancement of its flagship general insurance business processing solution, Genius.
According to Xchanging, insurers are under increasing pressure with highly competitive markets and an increasingly demanding regulatory regime, driven by Sarbanes-Oxley and the FSA. Xchanging says its service-oriented technology architecture is a method of building business processes through the linking together of a number of related services into a comprehensive business solution.
In partnering with technology giant, Microsoft, Xchanging expects to improve upon the business functionality of Genius by deploying the solution on a Microsoft .NET platform and thus making it relevant to a wider community of insurance users.
David Andrews, Xchanging CEO, said, Genius is already used by 70 insurers in 23 countries. So, we are taking what is already recognized as a world-class solution, extending functionality, partnering with Microsoft and modernizing the technology to make Genius the best global straight-through processing answer for the general insurance sector.