Cambridge bags Rs 434-cr service deal with UK co

MUMBAI: Bangalore-based Cambridge Solutions on Thursday said it has bagged a 10-year service contract worth Rs 433.9 crore from Aon, an insurance broking and risk management company, and Xchanging, a business processing services company. Cambridge Solutions said the contract would be effective from September 1.

“We consider this innovative partnership to be a ground-breaking one. It leverages the complementary strengths of each partner effectively and provides continuity to an established offshore-outsourcing relationship that Cambridge Solutions enjoys with Aon UK.

“Importantly, Cambridge now looks forward to working with Xchanging to service the broader London Insurance Market,” Cambridge vice-chairman Satyen Patel said. The deal involves outsourcing of Aon’s client operations division and would allow it to focus on its core areas of expertise and deliver differentiated levels of service to its clients.

Cambridge would expand the offshore services to the new Xchanging and Aon partnership. As part of the agreement, more than 500 employees, would be transfered from Aon to Xchanging. The partnership agreement is based on Xchanging’s enterprise partnership model approach to the outsourcing.