Xchanging targets global insurance settlements with Netsett launch
Insurance outsourcing services provider Xchanging says it hopes to export the efficiencies of London's settlement processes to the global insurance market with the launch of Netsett, a new accounting and settlement platform.
Xchanging has partnered with Deutsche Bank to create the service, which tracks and controls net settlement of premium and claims cashflow owed between global cedants, brokers and carriers.
The platform uses existing Acord message management technology and provides a central reference ledger of transactions, with Deutsche Bank supplying...
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