XBP Global Holdings announced a multi‑year partnership with a leading U.S. property‑and‑casualty insurer, valued at $24 million over five years, to modernize the insurer’s payment ecosystem with AI‑driven automation.
The deal will deploy XBP’s Intelligent Document Processing, Exception Platform, and Mobile Payment solutions to digitize paper‑based correspondence, streamline end‑to‑end payment operations, and improve compliance and processing speed.
The partnership represents a significant new revenue source for XBP, but it comes amid a Q3 2025 revenue decline of 10.4% YoY and a pro‑forma revenue drop of 18.1%. The company’s gross margin rose to 22.0% (pro‑forma 21.9%) and adjusted EBITDA increased 7.4%, indicating that cost discipline and higher‑margin automation contracts are offsetting revenue contraction.
XBP emerged from Chapter 11 bankruptcy on July 29 2025 and has been focusing on rebuilding its balance sheet, reflected in a current ratio of 0.73 and a negative free‑cash‑flow yield of –1.88%. The insurer partnership aligns with XBP’s strategy to expand its global business‑process‑automation portfolio and to generate recurring revenue streams in high‑growth markets.
“We are proud to partner with a leading insurer to reimagine payment operations through our AI‑driven, hyper‑automation‑enabled ecosystem,” said Lakshmi Narayanan, President of Bills and Payments for XBP Americas. “This engagement highlights the growing demand for intelligent, mobile‑enabled payment solutions that deliver efficiency, accuracy, and an improved customer experience at scale.”
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