Xchanging Ins-sure Services (XIS) and Xchanging Claims Services (XCS)
XIS/XCS are responsible for Lloyd's market processing.
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Lloyd's market processing is primarily provided by two companies:
- Xchanging Ins-sure Services (providing services formerly offered by LPSO, Lloyd's Policy Signing Office); and
- Xchanging Claims Services (providing services formerly offered by LCO, Lloyd's Claims Office).
These companies were created in 2001 to bring a more commercial focus to the area of market processing.
Xchanging Ins-sure Services
On 1 May 2001, Xchanging Ins-sure Services (XIS) was created as a separate company (owned by Xchanging, Lloyd's and the IUA) to provide a comprehensive policy signing bureau.
XIS provides services in four broad categories:
- Outsourcing
- Processing
- Business process services, including the Market Wordings Database (MWD)
- IT infrastructure.
Xchanging Claims Services
On 1 November 2001, Xchanging Claims Services (XCS) was created as a separate company (owned by Xchanging and Lloyd's).
Services include:
- Lead adjusting
- Claims management
- Peer review
- Non-moving claims review
- Recoveries
- Broker services
- Claims processing.