Xchanging puts 42 additional claims roles in consultation
UK outsourcing company Xchanging plc has placed 42 additional staff at risk of redundancy as part of the third phase of its transition to the Claims Transformation Programme (CTP).
The consultation covers the aviation and pecuniary financial loss sections, as well as the binders and reinsurance claims that remain outstanding following phases one and two. Phase three will conclude in October.
The second phase, which concluded in July, included claims staff working in binders, most types of reinsurance and property, Xchanging said in a statement.
The London-listed company explained that it would try to redistribute as many employees as possible into its expanding elective services portfolio throughout the consultation process.
"We are pleased to confirm that we have successfully retained more than 70 percent of the phase one and two impacted employees into elective services and additional roles within the business, and will be actively seeking to redeploy as many resources as possible throughout this final transition phase," the company said.
UK employers are obliged to undertake a consultation period before making redundancies to inform staff of proposed changes.
Back in March, Xchanging also announced redundancies in its claims adjusting operations.
The company's claims operations have been subject to upheaval while it makes the move from its claims agreement for followers operations to the CTP.
The advent of the CTP means the dismantling of Xchanging's monopoly status for many of the claims adjusting and processing services it provides to the London market.
Instead, Xchanging will compete with other companies to win elective contracts from companies operating in the London market.
"We have been aware of the need to evolve the claims business to meet the demands of our customers and we will continue to cooperate with the Lloyd's Market Association and Lloyd's to deliver the right solutions for the insurance market," Xchanging said.
It added that it would continue to secure contracts with managing agents in addition to the three-year claims processing contract to support Lloyd¹s customers it agreed in April.