Global business processor Xchanging has announced its arrival in the local market following its takeover and rebrand of claims service provider Cambridge Australia.

Although Xchanging cleared the final hurdle of its acquisition of Cambridge Australia in April, directors waited until the new financial year before rolling out the globally recognised brand this month.

Industry professionals marked the occasion at a function in Melbourne on Thursday.

Xchanging Australia is a significant provider of workers’ compensation services in NSW and Victoria.

Executive Chairman Paul Serong told insuranceNEWS.com.au the parent firm’s “expertise in techniques and processes will hopefully make our jobs a bit easier”.

Xchanging is a British FTSE 250 firm and was responsible for revolutionising the archaic Lloyd’s system, creating an almost fully electronic process.

Mr Serong says the parent company will provide experts in Six Sigma (business management strategy) to review the Australian company’s processes and eliminate wastage.

“That should help us grow the business without the need for additional people at the moment,” he said.