Date:11/08/2006 URL: http://www.thehindubusinessline.com/2006/08/11/stories/2006081104340400.htm

Back Cambridge details gains from Aon deal

Our Bureau

Bangalore, Aug. 10

Cambridge Solutions Ltd said on Thursday that it stands to benefit from the £ 230 million, 10-year outsourcing deal signed between insurance broking firm Aon Ltd and business processing services firm Xchanging.

Cambridge, which is the incumbent offshore service provider to Aon UK for claims processing, continues to be the exclusive supplier and will expand the offshore services it provides to the new Xchanging/Aon partnership.

The scope of the deal with Xchanging involves outsourcing of Aon's client operations division that handles current and legacy insurance claims administration and processing, as well as accounting and settlement for clients within Aon's reinsurance division.

Cambridge's portion of the contract amounts to £ 49 million (Rs 433.9 crore) over the ten-year period, which was a three-fold increase over the current engagement with Aon, said Mr Pradeep Chaudhry, CFO. Cambridge currently has a 100 people team working on the Aon account.