Of Special Interest

9th October 2016

Newslink Interview: CSC/Xchanging settling down well

Newslink recently dropped in to CSC’s London City office to get a progress report from Patrick Molineux, General Manager, Insurance, CSC, on the acquisition of Xchanging, which was completed in May. We last met him just over a year ago after CSC had published a significant survey across the UK insurance market on redressing the balance of insurers’ technology budgets, and identifying progress on trends such as digitisation and Cloud computing.
At the time of the Xchanging acquisition, researchers Celent said that CSC was the largest provider of core insurance solutions globally. CSC is the BPO leader in the US, has a major presence in Asia, and in certain Continental European countries including Germany-insurance is the fifth largest CSC business in the UK.
Molineux said that the attraction of Xchanging was its major BPO activity, not just in the London Market, but workers’ compensation insurance in Australia, and Wealth Management in Germany and Italy. The range of Xuber software solutions also provided an opportunity to enter the commercial, specialty, and wider reinsurance sectors, not only in London, but to market the applications particularly in North America and Asia Pacific through CSC’s leading market presence. CSC’s long term insurance software applications expertise has been in life and pensions, and mainly personal lines-its existing reinsurance solution tends to be used by some of the bigger reinsurers.
Integration planning has proceeded well, according to Molineux. The management structure has changed from silo to matrix with Adrian Guttridge responsible for P&C and for Xuber, both on a global basis, working with regional teams. The acquisition enables a wider range of application software and services to be offered worldwide, with a strong emphasis on a unique strategic transformation approach embracing emerging technologies. Appropriately, CSC and Xchanging are holding an exclusive event for the London Market on 11th October headed “The Art of Transformation” to discuss and update on strategies, insights, and product news, and to outline how a digital future is emerging.

CSC/Xchanging Trends(675 articles)-recent:

-Xuber releases white paper following roundtable of industry leaders in Bermuda
-Xuber for MGAs successfully delivered for Castel Underwriting Agencies Trend
-Xuber's second annual Global Reinsurance Survey highlights major issues with soft market still the biggest concern