SSP partners with insurtech start-up broker to increase Flood Re access

Insurtech start-up broker Flood Assist Insurance, which specialises in flood insurance, has chosen SSP’s core broking platform to underpin its lean, customer-centric, data-driven model.

An increased prevalence of flooding means more and more at-risk policyholders are finding it harder and more expensive to get home and business insurance. To help tackle this, the government launched Flood Re, which makes insurance more affordable to homeowners in areas prone to flooding.

However, Flood Re itself acknowledged that “more work needs to be done to improve access to Flood Re backed policies through insurance brokers”.

SSP is committed to offering the most at-risk policyholders the greatest choice of cover through working with the entire insurance market, from leading insurers to insurtech start-up brokers.

With nearly a third (31%) of home insurance and 77.1% of commercial insurance distributed through brokers, the intermediated market has a key role to play. Flood Assist’s proposition extends beyond providing insurance by creatively using data and technology to raise flood awareness and support at-risk policyholders in managing their flood risk.

Adrian Coupland, Customer and Marketing Managing Director at SSP said:
“It is important we pull together as an industry to provide protection and choice for affected policyholders.

“I am pleased to partner with Flood Assist Insurance, an organisation with the passion to be at the forefront of helping change the way high flood risks are managed by the insurance market.”

Liz Mitchell, founder of Flood Assist Insurance said:
“As SSP is definitely leading the pack on delivering Flood Re to the intermediated market, I am delighted to be using its market-leading core broking platform that provides all the capabilities we need.

“Flood Assist Insurance has a data-intensive approach. The SSP platform provides us with the flexibility and agility we need to better understand and drive change in this challenging sector of the market.”

SSP invests in commercial lines with new appointment

SSP has strengthened its Keychoice insurance distribution business with the appointment of Graham Walker as Commercial Lines Relationship Manager.

The move follows the announcement of Keychoice’s regional panel for commercial lines business in July. Reporting directly to Ron Atkinson, Distribution Director, Walker will use his wealth of industry expertise to drive the panel forward, working closely with providers to develop a best-of-breed solution that provides a significant competitive advantage for brokers and insurers.

Walker brings over 30 years’ experience to the role, gained in both a family-run local brokerage and several key positions in the commercial arm of Swinton, where he managed local insurer relationships.

A key part of SSP’s strategy is the adoption of commercial e-trading, which makes it easier and quicker for brokers to gain multiple quotes from different insurers with no re-keying. In return, insurers gain greater access to high street brokers, one of the most profitable channels in the UK insurance market.

The distribution of commercial insurance products is evolving quickly, and SSP is committed to the adoption of e-trading. SSP has seen an uptake in volumes as a result of this revitalised approach to commercial e-trading and recently announced Ageas as the third leading insurer to join its Polaris imarket live-chat platform.

“I am delighted to be joining the SSP distribution team at such an exciting time, where development and innovation are at the forefront of every project,” said Walker. “From a commercial point of view, SSP has a clear vision to increase the range of products available to Keychoice members to help them grow their business. I am looking forward to meeting and working with our fantastic partners.”

Speaking about the appointment, Ron Atkinson said:
“I am really pleased to welcome someone of Graham’s calibre to Keychoice to champion commercial lines. He is our fourth new appointment in the last 10 months, as we invest in our team ready for the next phase of growth and evolution.”

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.”

Ageas becomes third insurer to adopt SSP’s live integrated web chat service

SSP today announces that Ageas has become the third leading insurer to go live with the Polaris imarket live-chat service on its commercial e-trade platform. This follows hot on the heels of the addition of AXA to the live-chat panel last month, and the launch with Allianz Insurance earlier this year. A number of other insurers are due to implement it shortly.

SSP’s brokers can use the integrated web chat functionality to communicate in real-time with underwriters at the three insurers at any stage of the buying process without leaving the SSP application. Being able to obtain answers quickly and easily to questions about products and rates encourages brokers to continue placing business through the e-trade channel.

With integrated e-trading, client information is keyed in once, removing the errors and omissions that occur when data is re-keyed several times, as well as providing significant time and efficiency savings. The addition of a third insurer to the panel means SSP’s brokers will benefit from even greater efficiencies, freeing further time for them to focus on their customers’ needs.

Ron Atkinson, Distribution Director at SSP said:
“I am delighted to welcome Ageas as the latest leading insurer to join our live-chat platform. The expansion of our panel is testament to SSP’s revitalised approach and commitment to the commercial lines market, and our drive to increase adoption of commercial e-trading.”

Cathy Taylor, Head of Commercial Underwriting and Operations at Ageas said:
“We are continually looking to review and refine the e-trading service Ageas provides to brokers. Enabling brokers to communicate with us through this integrated web chat functionality makes it easier for them to do business with us and meet consumer demands for a speedy service.”

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.”

L&G partners with SSP to transform its customer journey

Legal & General has partnered with SSP to launch SmartQuote, an innovative new digital solution that meets the needs of today’s insurance customers by making it quicker and simpler to buy home insurance.

While traditional quote forms require consumers to answer numerous questions they often don’t have accurate information for, SmartQuote uses SSP Intelligent Quotes Hub (IQH) to take full advantage of the vast quantity of digital data sources available to streamline and simplify the customer journey.

As a sophisticated whole of market product rating and quotation solution, SSP IQH provides a single point of data integration for the internal and third-party data sources Legal & General requires to generate a binding customer quote, with the customer only needing to input their postcode and type of cover required.

As the information used comes from official sources, rather than customer estimates, the price accurately reflects the real individual risk posed.

Adrian Coupland, Customer and Marketing Managing Director at SSP said:
“The deployment of SmartQuote is a major milestone for SSP and will be truly transformational in the market.

“Time-poor consumers are becoming increasingly frustrated at having to answer pages of questions to get an insurance quote. By utilising the ever-increasing amount of data available about people and risks, SmartQuote produces an informed and precise evaluation quickly with minimum customer effort.

“As the number of data sources continues to grow and grow, all these can be fed into SSP IQH to produce optimum results.”

David Robertson, Director of Digital Transformation at Legal & General said:
“We are looking to significantly grow our GWP in the next year through the implementation of new digital solutions. With SmartQuote providing a hassle-free way to purchase policies, it will make insurance more accessible to consumers, and will form the centrepiece of our targeted growth.

“As SmartQuote also makes it easier for our distribution partners to offer insurance quotes, it will drive opportunities across the direct, broker and affinity markets.”

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 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.”