Case Study: The London Insurance Market achieves faster processing and improved cash flow with Xchanging’s IMR

The London Insurance Market - Customer Case Study

Xchanging worked with the London Insurance Market to address a challenge rooted in its reliance on slow, paper-based processes for policies, premiums, and claims. This manual system led to extended processing times, misplaced documents, and a negative impact on cash flow, all while customer service expectations and volumes were increasing.

The solution from Xchanging was the implementation of the Insurers’ Market Repository (IMR), which connected 300 market participants to a single electronic source. This new technology, combined with workflow management and a Six Sigma methodology, created end-to-end electronic processes. The results delivered by Xchanging were transformative, moving from 100% paper to 95% electronic processing. This shift halved processing times with central services, reduced policy and claim cycle times by up to 70%, improved premium cash flow, and created an invaluable data store of 56 million documents.