Case Study: Xchanging accelerates reinsurance processing and reduces risk with Omnis Studio

Omnis helps insurance services provider to maintain market-leading position and protect £billions worth of assets for its clients

The customer, Xchanging, faced the challenge of managing billions of pounds in reinsurance transactions. Their critical software, Elgar, needed to perform massive-scale financial calculations and required the ability to rapidly deploy coding fixes, sometimes within an hour, to avoid millions in losses for their clients. The vendor, Omnis, was engaged with its application development platform, Omnis Studio, to address this challenge.

The solution from vendor Omnis involved using Omnis Studio to develop and continuously enhance the Elgar software. This provided Xchanging with the rapid application development speed needed to create bespoke client versions in hours, drastically reducing processing times from days to minutes. The measurable impact was that Elgar became a market-leading system, protecting billions of pounds in assets and ensuring Xchanging could maintain its 24/7 resilience for major syndicates and corporations.

Xchanging

Peter Richardson

Project Manager