Posts Tagged ‘Netsett’

Xchanging launches insurance & procurement offerings in Asia

Wednesday, March 20th, 2013

Xchanging is boosting its presence in Asia by launching Netsett, a global reinsurance and accounting net settlement service; and Vault, a technology-enabled procurement platform designed to manage sourcing project workflow.

Xchanging Asia Pacific has a headcount of 4,500 in 18 offices, servicing over 250 clients.

Xchanging Asia Pacific has a headcount of 4,500 in 18 offices, servicing over 250 clients.

Xchanging is introducing these two core offerings as part of its global services, as a result of its strategic commitment to grow its Asian capabilities.

Joe Poon, President of Xchanging Asia Pacific.

Joe Poon, President of Xchanging Asia Pacific.

These solutions are built upon the principles and benefits enjoyed by both the London insurance market and organisations using procurement to improve project workflow tracking respectively.

Netsett

Based on an existing service in the London insurance market, Netsett – a netting and settlement solution – was designed with the aim of improving the accounting and settlement of payments between participants in the global insurance and reinsurance community.

By simplifying the netting and settlement between entities, the platform allows insurance groups to reduce the amount of working capital needed whilst improving transparency and control.

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