XCH.L Regulatory News (XCH)

6 December 2012

Xchanging plc

Xchanging awarded insurance software contract by

global Insurance Broker Marsh

Xchanging plc ('Xchanging'), the business process, procurement and technology services provider and integrator, announces that it has been awarded a 12 year contract by the global insurance broker Marsh to provide Brokasure as its core broking software.

Brokasure forms part of Xchanging's existing suite of specialist insurance software. The company has been investing significantly in the final stage of development of its new suite of insurance software which was re-launched in October under the business name "Xuber" (www.xuber.com). The contract with Marsh includes the latest upgraded version of Brokasure provided on a Software-as-a-Service ("SaaS") basis, and provision for future migration to the "Xuber for Brokers" product in due course.

Xuber addresses all the main segments of the insurance market. Combined with its business processing capabilities, Xuber enables Xchanging to offer a complete 'end-to-end' insurance back office service to the insurance market.

Commenting on the new contract, Xchanging's CEO Ken Lever said: "This extension to our existing relationship with Marsh reflects the quality of our end-to-end niche offering in what is a complex and specialist market. Xuber is an exciting development and cements our place as the leading provider of insurance software for the global insurance market. We are delighted that Marsh, a global leader in insurance broking and risk management, has decided to work with Xuber in this way."

Enquiries

Xchanging plc Tel: +44 (0) 207 780 6999

David Bauernfeind, Chief Financial Officer

Maitland Tel: +44 (0) 207 379 5151

Neil Bennett

George Hudson

Emma Burdett

About Xchanging plc

What we are 

Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries.

What we do

Xchanging brings innovation, thought leadership and passion to its customers' businesses so as to enhance performance and value. Our values are embedded into everything we do.

What we want to be

Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation.

www.xchanging.com

About Marsh

Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in human resource consulting and related services; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.

Cautionary Statement: 

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Xchanging's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.

There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approval or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.