SSP Africa Johannesburg Skyline

SSP celebrates 30 years in the African insurance market

SSP is delighted to be celebrating the 30-year anniversary of providing general insurance (short-term) software solutions to African customers. This makes SSP one of the longest-serving providers of general insurance technology solutions in the African market.

SSP’s head office in Johannesburg is complemented by a regional account management office in Kenya. Together the two offices employ 35 specialists, who are supported by over 850 staff across SSP globally.

Over the last three decades, there have been significant changes in the African technology landscape. SSP’s continued commitment to innovation and delivery has enabled it to keep pace with these changes to meet the evolving demands of its customers.

Indeed, SSP has been a life-long partner for a number of insurers. Over 20% of its African customers have been with SSP for more than 25 years, trusting the company to keep their software current throughout the technology changes.

While many customers are on their second generation of SSP software, Botswana Insurance Company (BIC) has adopted its third generation SSP solution. Having migrated from Insure/90 to S4i, BIC is now benefitting from SSP Pure Insurance, a flexible end-to-end core insurance system for all lines of business.

In addition to retaining existing customers, SSP is continuing to expand its African insurer customer base. New customers are attracted by the company’s extensive local knowledge and experience, as well as its proven ability to deliver technology on the continent. This year SSP will introduce more of its award-winning digital insurance components to the African market.

SSP’s customers play an important part in driving product and direction through running its African user group, which operates for the benefit of the users.

Leslie Muthen, Head of Business Operations and Finance, Africa at SSP said:
“This is a significant milestone for SSP, and one I am delighted to have been part of for the last ten years. It means we truly have the required knowledge and experience of the African general insurance market to enable our customers to deliver on their growth and efficiency plans.”

Adrian Coupland, Customer and Marketing Managing Director at SSP said:
“SSP’s enduring commitment to both the African market and investment in our solutions means we can continue to offer insurers in the region the rich, broad functionality they need to remain competitive.

“We have been a safe and trusted partner for the last 30 years, and will be for the next 30 years too.”

Masawara

Masawara Insurance Group drives digital strategy with SSP Pure Insurance

Insurance technology specialist SSP has signed a new deal with the Masawara Group of insurance companies. The deal has seen SSP Pure Insurance deployed across Botswana Insurance Company Limited, Lion Assurance Company Limited and Zimnat Lion Insurance Company Limited in multiple African territories, all of which are now live.

SSP Pure Insurance is a flexible, end-to-end core insurance system, which provides Masawara Insurance Group with the full-cycle policy administration, finance, claims, reinsurance and MI/BI reporting capabilities it needs to drive future growth.

The enterprise solution will also provide Masawara Insurance Group with a web-based employee portal and a broker portal, which will make it easier for brokers to do business with the three insurers through online e-trading.

Adrian Coupland, Customer and Marketing Managing Director at SSP, said:
“I am delighted that SSP has extended its partnership with Masawara Insurance Group.

“With our existing customers Botswana Insurance Company Limited and Lion Assurance Company Limited, and their sister company Zimnat Lion Insurance Company Limited, all live on our market-leading platform, they can benefit from a consolidated solution with best practice configuration and proactive support from the experienced team in our South African office.”

Mustafa Sachak, Chief Executive Officer at Masawara Insurance Group said:
“SSP Pure Insurance gives us a future-proof enterprise solution with the capability and flexibility for us to be self-sufficient, as well as centralised reporting and intelligence for the data across all three insurers.

“SSP has over 30 years’ knowledge and experience of the African general insurance market, and has delivered the same SSP Pure Insurance package to more than 50 short-term insurers. This gives us the confidence that we have adopted a proven solution that has benefitted from $7.2m of R&D investment over the last three years.”

Stanley Mazorodze, Managing Director at Zimnat Lion Insurance Company Limited said:
“We are committed to making a real difference to the lives of Zimbabweans through providing superior products and customer service.

“By adopting SSP Pure Insurance, we have not only implemented a proven functionality-rich platform designed specifically for the short-term insurance market, but can also benefit from SSP’s constant investment in its technology, service and people. As a result, we have the capabilities and support necessary to make our clients’ lives better today and in the future as the market changes.”

Steve Lathrop — CEO

SSP appoints Steve Lathrope as CEO

SSP today announces the appointment of Steve Lathrope as Chief Executive Officer (CEO). SSP co-founder Laurence Walker, who has been leading the company since 2007, will resume the position of Executive Chairman.

Steve joined SSP in 2011 as Managing Director of the Insurer Division, with responsibility for more than 120 insurance company and MGA customers worldwide. Ahead of his appointment to the role of CEO, he was promoted to Chief Customer Officer and then latterly Group Managing Director. Before joining SSP, Steve spent 19 years with Accenture as a partner in the global Insurance practice, consulting with a wide range of insurance companies in the UK and globally and advising on business and technology change.

Steve Lathrope said:
“This is an exciting time for SSP and I’m delighted to be moving into the CEO role. The whole SSP team is proud of the role we play in supporting the business operations of our 1,000+ customers worldwide. My focus as CEO will be to continue to raise the bar with regard to the service we provide day-to-day, and the contribution we make to our customers’ innovation and growth.

“The pace of change in the insurance industry continues to increase, and the role of technology is more significant than ever. The investment we have been making in SSP’s software products and services is now being realised through the unique solutions we’re providing to our new and existing customers — including our new SSP digital insurance platform and recently launched SSP Broking.”

Laurence Walker said:
“Steve’s recruitment to SSP was a key part of our succession plan. I’m delighted by the development and growth he has helped our team deliver on the Insurer side of the business, and the role he has played in the wider business as Chief Customer Officer and Group Managing Director. I look forward to working with him as our new CEO, and to realising the full potential of SSP.

“We are 100% focused on our mission to be the best insurance software provider in the market. Under Steve’s leadership we will continue to enhance our products and services, put customers at the heart of what we do, and deliver our overall strategic plan.”

FBC Insurance Company

FBC Insurance to transform with SSP Pure Insurance

FBC Insurance has chosen to support the growth of its Zimbabwean general insurance business in line with its strategic objectives using SSP’s digital insurance platform, SSP Pure Insurance.

SSP Pure Insurance is a flexible end-to-end core insurance system for all lines of business and all channels. As a single solution with consistent best practice processes for policy administration, claims management, finance and credit control, as well as strong reporting MI, SSP Pure Insurance enables FBC Insurance to operate more efficiently and remain compliant with the stringent Zimbabwean regulatory environment.

With a sound insurance foundation in place, FBC Insurance can focus on its transformation from being an intermediated bancassurer and move into direct writing. Currently, a large proportion of business is driven through the FBC bancassurance sales force, and FBC Insurance now has a platform that will help it achieve exponential growth of its direct distribution.

As the direct market is maturing in Zimbabwe, the omni-channel support provided by SSP Pure Insurance puts FBC Insurance ahead of the curve, enabling it to push and hit the market.

Another key focus for FBC Insurance is diversification into the growing microinsurance market. With an insurance penetration rate of just 3.6% in Zimbabwe, there are significant opportunities for FBC Insurance to provide affordable products that match the needs of the currently excluded population. SSP Pure Insurance enables FBC Insurance to simplify the product design and development process, so it can respond more agilely to these market conditions.

Adrian Coupland, Customer and Marketing Managing Director at SSP, said:
“I am delighted that FBC Insurance is live on our digital insurance platform to support its objectives of growth, greater operational efficiency and risk control.

“Half of the top ten insurers in Zimbabwe use SSP’s software, and this is testament to our continued investment in supporting the territory without the need for reliance on third parties.”

Musa Bako, Managing Director at FBC Insurance, said:
“We needed a system that would enable us to achieve our growth and cost-cutting objectives. Investing in SSP, a technology partner with a broad footprint in the African and global markets, took the risk out of the decision-making process.

“In addition to its knowledge and experience of the Zimbabwean market, SSP demonstrated it has the financial stability to support our evolution over the long term.”

Direct Line Group (DLG)

Direct Line Group chooses SSP Select Insurance as a Service for growth

Direct Line Group (DLG) - SSPDLG chooses to support its commercial insurance growth strategy using SSP’s digital insurance platform, SSP Select Insurance as a Service.

Insurance technology specialist SSP today announces a new five year contract with leading UK insurer Direct Line Group (DLG) to provide its SSP Select Insurance as a Service platform to support DLG’s plans for growth. SSP won the contract after an extensive competitive tender process.

SSP Select Insurance as a Service is a SaaS-based digital insurance platform that comprises a set of proven, integrated best of breed components that together provide powerful digital insurance capabilities to insurance companies, enabling them to build and deliver their products and services into the marketplace.

These platform components provide product build, pricing, data enrichment, aggregator integration, policy administration and customer self-service capabilities, as well as pre-application fraud prevention through SSP Verify. DLG will also benefit from SSP’s Intelligent Quotes Hub (IQH), the company’s next generation, whole of market quotation solution that provides powerful, user configurable risk selection, data enrichment and pricing capabilities.

The component options within the SSP solution are pre-integrated, meaning insurers can undertake a ‘low touch’ implementation that involves considerably less cost and effort than with traditional solutions, and get their insurance products live in the marketplace more rapidly.

The SaaS platform is implemented, hosted and managed by SSP, a model that drives a low up-front investment, along with flexible and low cost of ownership. It also contributes to the rapid implementation timeframe.

DLG will become the fourth leading UK insurer to adopt IQH to provide its Insurer Hosted Pricing capability for part of its business.

Jasvinder Gakhal, Director of Commercial Direct at Direct Line Group said:
“We are pleased to have selected SSP and its digital insurance platform to support areas of our Direct Line for Business growth strategy.  The platform enables us to launch new products quickly, monitor their performance, learn from the results and refine them on a cost-effective basis.”

Steve Lathrope, Group Managing Director, SSP said:
“We are proud to have been chosen by DLG and to be providing Select Insurance as a Service as a platform for growth.  We’ve designed the solution with innovation in mind, and are delighted to have a market leader using it to power its business.”

Resolution Insurance

Resolution Insurance realises expansion plans with SSP Pure Insurance

Resolution Insurance has chosen insurance technology specialist SSP to provide a new, robust, flexible IT system to underpin its expansion plans. Following private equity investment, the insurer has diversified into the general insurance market and expanded from its Kenyan base into Tanzania.

The deal will see SSP Pure Insurance deployed as a single flexible, end-to-end core insurance solution across Resolution Insurance’s operations in Kenya and Tanzania, with local account management support from the Kenyan office.

Resolution Insurance’s vision is to become the recognised leader and preferred provider of insurance services in Africa, with extended access to insurance for millions of low income people across East Africa, leveraging Kenya’s strategic position as a regional leader and gateway.

SSP Pure Insurance will provide Resolution Insurance with the self-sufficiency and agility to deliver new products and schemes that meet the needs of these customers, as well as web-based portals that make it easier for brokers and consumers to do business with the insurer.

Steve Lathrope, Group Managing Director at SSP, said:
“Kenya is an important market for general insurance that has grown by 20% compound over the last year. I am delighted to be working with Resolution Insurance, a company that shares SSP’s commitment to delivering innovative and quality solutions to this market, with the roll out now extended to include its operations in Tanzania.

“Resolution Insurance is part of SSP’s African insurance community, whose user group continues to play an important part in driving the roadmap for our Pure Insurance product and strategic investment.”

Maryanne Mugo, Managing Director at Resolution Insurance Tanzania said:
“We are targeting 100% growth in GWP over the next five years. Although we originally launched as a healthcare insurer, general insurance will play a vital role in our growth plans by becoming the biggest element of the group, contributing around 60% of our GWP.

“To be able to realise these plans, we needed a proven, functionally-rich software platform designed specifically for the short term insurance market, and that is what SSP Pure Insurance delivers. As SSP has provided solutions that support the differing requirements of the African insurance market for over 30 years, we will benefit from both its experience and R&D investment in the platform.”

Scott Holmes

SSP invests in insurer relationships with new appointment

Scott HolmesSSP, a leading global provider of insurance technology solutions, has strengthened its Data and Distribution division with the appointment of a new Relationship Manager Scott Holmes.

The move follows the appointment of Siân Nicholls and confirms the company’s commitment to proactively developing its products and partnerships through continued investment in people and the business.

Reporting directly to Ron Atkinson, Head of Distribution Relationships, Holmes will manage and grow SSP’s relationships with its insurer and data partners. He will also be responsible for identifying innovative propositions that enable SSP’s customers to benefit from a wider range of products and services, while taking forward current solutions such as SoteriaDrive, its telematics offering, and Keychoice, the company’s insurance distribution business.

Holmes brings a wealth of insurance industry experience to the role, having held a number of positions focused around product and development. He joins SSP from Sompo Canopius, where he managed the relationships with software houses. Prior to this, he delivered key telematics and data enrichment strategies at LV=Broker.

“I’m very excited to join SSP at a time of extensive growth in the team,” said Holmes. “With insurers facing a tough set of challenges to remain profitable, I’m looking forward to using my knowledge and expertise to help our partners develop new revenue streams, take the fight to fraudsters, reduce their operational expenditure and retain more customers.”

Speaking about the appointment, Atkinson said: “I am delighted to welcome Scott to our team. Our position in the broker market meant we wanted to appoint a Relationship Manager with a proven track record of building relationships and delivering unique schemes and solutions to brokers. Scott’s appointment confirms our commitment to the broker market at a time of great change in the industry.

“Scott will be key in enabling both insurers and brokers to benefit from the market-leading data intelligence our partners provide. Our continued focus on innovation puts SSP at the forefront of identifying the next new thing in the data space. When our partners ask us for something, they can be certain we have the knowledge to deliver.”

Steve Lathrop — CEO

SSP celebrates most successful year in Africa

Steve Lathrope

Steve Lathrope, Chief Customer Officer at SSP comments on SSP’s progress in the African market, and its commitment to offering insurers in the region the rich, broad functionality required to deliver their growth and efficiency plans.

SSP, a leading global provider of general insurance technology systems and solutions, continues to expand its African insurer customer base, and is delighted to announce one go-live and four new deals so far in 2016. These are delivered and supported by SSP’s South African operations, demonstrating the company’s continued commitment to serving the needs of the African insurance market.

In all cases, SSP has provided a new strategic solution based on SSP Pure Insurance, a flexible end-to-end core insurance system for all lines of business, with a fully integrated broker portal that supports full-cycle trading. This provides a single solution for policy administration, claims management, finance, reinsurance and product configuration, with support for e-trading across the broker community.

The mix of deals includes one existing customer migrating from their current SSP system to the new strategic solution, one returning client and three new customers, across Zimbabwe and Kenya.

SSP now works with three out of the top five insurers in Zimbabwe based on assets and four out of the top eight in terms of GWP.

One of the new customers is Resolution, a top 10 Kenyan insurer. Having begun life as a health insurer, Resolution has now adopted SSP Pure Insurance for its move into the general insurance market. This new technology, coupled with backing from a private equity firm, has enabled Resolution to forecast 25% annual compound growth for the next five years.

“SSP is the partner we have chosen for the next stage of our strategic growth based on the depth of functionality available in the solution and its self-service capabilities,” says Alice Mwai, Managing Director at Resolution Insurance.

Steve Lathrope, Chief Customer Officer at SSP, says, “These deals demonstrate SSP’s progress in the African market, and that we are committed to offering insurers in the region the rich, broad functionality required to deliver their growth and efficiency plans.

“As SSP continues to make significant investments in its systems and solutions, we offer existing and new customers the right product in the right place, enabling them to be competitive in their markets.”