RACT Insurance, the insurance subsidiary of the Royal Automobile Club Tasmania, has gone live with the SSP Pure Insurance offering and e5 Workflow solution after a 19 months implementation phase.
RACT, Tasmania’s main motoring organisation, offers a wide range of motoring services, insurance, tourism and travel products, with its insurance subsidiary providing its members with home, contents and vehicle insurance options.
SSP Pure Insurance is an easily implemented, flexible end-to-end core insurance system solution, providing all of the key components needed to manage an insurance operation including policy administration, product development, claims management, finance, reinsurance and co-insurance as well as inbuilt document management, task management and business analytics.
A fully scalable, web-enabled solution, SSP Pure Insurance provides a modern platform for RACTI to ￼manage the entire business lifecycle from a single solution.
SSP Pure Insurance and e5 Workflow forms a fully integrated solution, with SSP Pure Insurance providing the core insurance capabilities and e5 managing work allocation, task generation and workflow configuration and management.
The highly sophisticated claims workflow facilities will enable RACTI to realise operational efficiencies and generate information intelligence. These include improving speed to market, distributing products more efficiently and dynamically managing risk rating.
Paul Miller, SSP general manager, Asia Pacific said technology was playing an increasingly important role in providing insurers with a platform meeting the needs associated with constant industry changes and modernised products while providing automation of processes and tasks to help reduce operating expenses.
“RACTI was constrained by its legacy platforms, which lacked the flexibility and speed required to respond to an ever changing and competitive marketplace.
“SSP was appointed in September 2013 to replace RACTI’s legacy system and we are pleased that we’ve been able to implement a customised, fully integrated solution for RACTI,” Mr Miller said.
Craig Van Zeyl, Founder and CEO of e5 said it was exciting to see a customer take advantage of the innovation opportunities provided by the e5 and SSP partnership.
“The combination of e5 and SSP Pure Insurance provides a truly world class insurance processing capability, and puts RACTI ahead of its competitors,” Mr Van Zeyl said.
According to Trent Sayers, Chief Executive Officer, RACT Insurance, there was a growing need within motoring organisations to understand its members better, the services they use and benefits they receive, and to be able to offer more customised policies.
“Upgrading our systems to SSP Pure Insurance and e5 workflow, and integrating these into our membership system, provides us a strategic platform to compete and grow.
“The implementation of a leading policy administration system allows us to innovate, improve operational efficiencies, and most importantly enhance customer service,” Mr Sayers said.
￼The contract between SSP and RACT Insurance was signed in September 2013 with the implementation phase finalising in June 2015.
Live Drive app-based telematics solution to enhance offering of leading UK insurance broker
Insurance technology specialist SSP today announces that One Call Insurance (One Call) has launched a new telematics solution – Live Drive – after completing a successful pilot earlier this year.
Based on SoteriaDrive, an app-based telematics solution developed by SSP in conjunction with Wunelli, One Call is making the Live Drive solution available for telematics insurance customers to download on Android and iOS smartphone devices, complementing a black-box solution also from Wunelli.
SoteriaDrive is the first whole of market telematics-based insurance product to be available via high street brokers. Advanced functionality, such as an auto-start feature, makes SoteriaDrive an attractive proposition for brokers and customers alike. By detecting when the vehicle is moving and automatically activating the SoteriaDrive app, the onus on policyholders to remember to start the app every time they begin a journey is removed.
Overall demand for such telematics solutions is growing. A study by Deloitte earlier this year found that almost half of all motorists (48%) are now willing to track their behaviour and share the information with insurers in return for a more accurate premium1. Since its launch in 2013, SoteriaDrive has also been adopted by several other leading insurers to support their telematics offerings.
“Telematics-based policies have become a much more established feature of the insurance industry and not just amongst young drivers. Older drivers are also starting to recognise the benefits of their data being used in this way,” said Adrian Coupland, Managing Director, Data and Distribution at SSP. “Our own research last year found that there is a more general acceptance of telematics schemes across all age groups due to recognition of the financial rewards.
“With drivers frequently expecting to have the option of a telematics-based insurance solution and many automotive manufacturers starting to disrupt the market with their own built-in telematics, a tried and tested market-leading solution such as SoteriaDrive is a smart choice for insurers as it supports all ages and device types.”
Oliver Rose, Director at One Call, said: “Our pilot confirmed that regardless of age, many of our customers understand the benefits offered by telematics. This new offering gives us a great opportunity to extend our reach with flexible integrated app-based and device-installed services”.
1‘Insurance Disrupted – General insurance in a connected world’, Deloitte, 2015
St. James’s Place Wealth Management has committed to a new 5-year deal with technology solutions provider SSP to enhance the technology services it provides to its team of financial advisers.
At the heart of St. James’s Place is the St. James’s Place Partnership; a network of expert financial advisers who specialise in delivering face-to-face wealth management advice to individuals, trustees and businesses across the UK. From the latter part of 2016, St. James’s Place will start to benefit from upgrades to their existing new business systems. This will include SSP’s new web-based financial services solution, called SSP Adviser.
SSP Adviser is specifically designed for personal and corporate clients and will provide St. James’s Place with a tailored solution to match their exact needs and business model.
The new tools will facilitate access to illustrations, Fact Find and electronic business submission in a modern, web-based platform built upon Microsoft’s latest .NET technology.
Steve Pearson, Managing Director, SSP Broker Division commented:
“SSP has a successful and long-standing relationship with St. James’s Place, having provided a suite of technology assets since 2002. Full feature workflow functionality and multiple integrations for fact finding, illustrations and electronic applications have helped smooth the advice process and delivered an enhanced customer experience.
“The addition of SSP Adviser is an exciting next step as we look to build on our technology partnership and achieve our shared ambitions for growth.”
Rob Delaine, Development and Technology Director from St. James’s Place said:
“The move to SSP Adviser will provide Partners with access to key functions via a standard web browser, integrated seamlessly with our wider technology systems.
“It will deliver a consistent, modern and more intuitive Partner experience and support the growth of our operations in the UK and further abroad.”