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Sure insurance implements SSP’s digital insurance platform

A Queensland based insurance start-up, “Sure Insurance”, has successfully implemented SSP’s digital insurance platform to support the launch of their home and contents insurance product for regional Queenslanders.

SSP’s digital insurance solution is a cloud-based platform comprised of a market-leading suite of products, which provides advanced digital insurance capabilities for insurers.

The different components within the SSP solution include product development, pricing, policy administration, claims and advanced multi-channel user experience capabilities. 

Sure Insurance is the first business to focus solely on the regional Queensland home insurance segment, a market which has been widely acknowledged as needing greater competition. The SSP digital platform’s flexible product capabilities enable Sure to manage risk, improve rating accuracy and provide better pricing using geocoding and data enrichment.

Paul Miller, General Manager APAC at SSP said: 
“For insurance start-ups, our digital insurance platform is lowering the barriers to entry without compromising their capabilities. In the past, new entrants had a high initial technology cost and long lead time to implementation but with the digital insurance solution, upfront costs are reduced and implementation time is shortened.”

“Hosted and managed in Australia, SSP offer a disruptive digital solution for the general insurance industry and we are pleased to have our second customer go live in this market,” Mr Miller said. 

Brad Heath, Managing Director of Sure Insurance said:
“SSP has been a great partner through our launch process – they took the time to understand our business strategy and customer proposition and structured their solution approach to suit our start-up model. Their people were first class, and they have delivered an innovative, powerful and scalable system in a very short time that will ultimately benefit our customers.”

With a suite of pre-integrated products, the implementation time of the digital insurance platform is significantly reduced compared with more traditional solutions and gives Sure Insurance the flexibility to refine its products and continue to grow.

The SSP digital Insurance platform is implemented, hosted and managed by SSP, a model that drives a low upfront investment, along with flexible and low cost of ownership. 

SSP is a leading provider of technology solutions and software for the insurance industry.

Sure Insurance is a Queensland owned and operated Insurance Agency. They have partnered with and are backed by global insurer, Liberty Mutual Insurance Company (Liberty).

Ansvar contracts for new digital core insurance platform

Leading specialists in risk management and insurance solutions in the Care, Community, Faith, Education and Heritage sectors, Ansvar Insurance, has contracted with SSP for an “as a service” platform to run its core business.

Ansvar is upgrading from SSP’s Insure/90 platform to SSP’s new cloud-based insurance solution, SSP Digital Insurance Platform.

SSP Digital Insurance Platform is a browser-based platform, incorporating a suite of market-leading products, for insurers to manage their clients, policies, billing and claims.

The different components within the SSP platform include product development, pricing, policy administration, claims and advanced multi-channel user experience capabilities.

With pre-integrated components, the implementation time of the digital insurance platform is significantly reduced compared with more traditional solutions. Ansvar is aiming for their initial implementation to be complete by the end of 2019.

Building on the flexibility of the platform, the ANSVAR implementation will also include integration with the popular Sunrise broker exchange.

Paul Miller, General Manager APAC at SSP said:
“We are pleased Ansvar has selected SSP as its partner to modernise its insurance offerings, upgrading from SSP’s I/90 platform. Ansvar is SSP’s third Australian customer to select our digital insurance platform in the past 12 months. Insurers are increasingly looking for more agility and digital capabilities in their products, so they can respond rapidly to changing market conditions. SSP’s digital platform can be easily configured, which reduces the time and effort required to release new products and pricing changes.”

Warren Hutcheon, CEO of Ansvar said:
“SSP Digital Insurance Platform is a world class offering and fits well with our business. The digital capabilities of the platform will make it easier to do business with Ansvar, especially for Brokers. Key to our selection of SSP, was the strength of their local team and the alignment and understanding of our business.”

The SSP Digital Insurance platform is implemented, hosted and managed by SSP, a model that drives a low upfront investment, along with flexible and low cost of ownership.

SSP signs up Bahamas First Holdings Limited

Bahamas First Holdings Limited (BFHL) has signed a five year agreement for the implementation, and run of SSP’s Digital Insurance Platform for both its Bahamas and Grand Cayman operations. SSP was chosen to replace their legacy technologies, and the digital transformation project will result in fundamental changes to how Bahamas First General Insurance and Cayman First Insurance operate, through delivering enhanced customer, broker, agent and employee user experience and enhancing the value it delivers to all parties.

The flexible, end-to-end digital insurance platform will provide BFHL with the ability to become more customer focused, by providing its customers with online quote & buy and self-service capabilities. Brokers and Agents will also be able to serve their clients online through portals which will support full-cycle processing, from quotations, accepting new policies through endorsements and renewal processing.

BFHL will also benefit from a new user interface, which is responsive in design – allowing customers, agents, brokers and staff employee usage from a variety of devices (mobile, tablet and/or desktop). SSP’s digital insurance platform meets all requirements to assist BFHL in remaining competitive directly out-of-the-box; without requiring the purchase of add-on modules to plug functionality gaps. Additionally, it will make it faster and easier for BFHL to respond to change and modify its processes in order to transform the business.

Adrian Coupland, Customer and Marketing Managing Director at SSP, said:
“I am delighted to extend our Caribbean customer base with such a key client, following a competitive selection process.

We at SSP are committed to growth in the region, providing front line support from our US office as we have done for over 30 years. Our digital insurance platform will support BFH in their profitable growth, and allow it to evolve to meet growing digital insurance demands of customers and agents”.

Patrick Ward, President and Chief Executive Officer of Bahamas First Holdings Ltd., said:
“We have no choice but to meet the changing demands of our customers and by working with SSP, we are transforming the way we do business, streamlining processes and using data and technology to create a digital platform to make life easier for customers, our employees and our agents and brokers”.

SSP successfully implements digital insurance platform for RACQ, Australia

SSP has successfully implemented its digital “as a service” platform for RACQ, Queensland’s premier motoring body, which forms part of its continued growth in the Asia Pacific territory.

This is part of RACQ’s affinity partnership insurance strategy, utilising different components within the SSP platform. SSP’s digital insurance solution is a cloud-based insurance platform with a market-leading suite of products, including product development, pricing, policy administration, claims and advanced multi-channel user experience capabilities.

With pre-integrated components, the implementation time of the digital insurance platform was significantly reduced compared with more traditional solutions, with the platform fully implemented in eight months.

RACQ has now launched a new affinity business, distributing personal lines products via multiple partners to consumers nationwide.

Paul Miller, General Manager APAC at SSP said:
“We are pleased RACQ chose us as a partner to support the group’s digital strategy through our market leading digital insurance platform.

“Hosted and managed in Australia, SSP Digital Insurance is a disruptive solution for the general insurance industry. It has enabled RACQ to innovate and rapidly launch new products into the marketplace at a lower cost, with minimum impact on existing operations.”

Luke Saxby, General Manager Insurance Distribution at RACQ said:
“RACQ was able to accelerate its entry into the insurance affinity partnership space using the Digital Insurance solution which now equips us with the agility and flexibility to quickly launch new products and channels to the national market.”

The SSP Digital Insurance platform is implemented, hosted and managed by SSP, a model that drives a low upfront investment, along with flexible and low cost of ownership.

SSP is a leading global provider of technology solutions and software for the insurance industry.

SRIC upgrades relationship with SSP for digital journey

With huge opportunities for insurers who embrace emerging technologies and communication channels, The Swaziland Royal Insurance Corporation (SRIC) has chosen to migrate from Insure/90 to SSP’s digital insurance platform, SSP Pure Insurance.

While Insure/90 has served it well, SRIC wanted a platform with the digital capabilities necessary to maintain its position as the largest insurer in Swaziland. SSP Pure Insurance is a flexible end-to-end core insurance system that will provide SRIC with the consistent best practice processes for policy administration, claims management, finance and credit control it needs to drive future growth.

The SSP solution will also provide SRIC with a web-based broker portal, making it easier for brokers to do business with the insurer. Additionally, the bordereau import functionality will enable SRIC to consolidate data from brokers, partners, TPAs and policyholders, improving its operational efficiency and reducing the errors often associated with rekeying of information.

SRIC will also benefit from greater business user control around pricing and rating through the integrated Precision Rules Engine, as well as strong reporting MI.

Adrian Coupland, Customer and Marketing Managing Director at SSP, said:
“I am delighted that SRIC has decided to upgrade to SSP’s digital insurance platform following a rigorous selection process.

“As we celebrate 30 years of providing general insurance (short-term) software solutions to the African market, SSP is committed to maintaining and upgrading its relationships with existing customers as well as winning new ones.”

Zama P. Ngcobo, General Manager at SRIC, said:
“Having been an SSP customer for over 10 years, we have developed a really good relationship with the people there. The team at SSP has a deep understanding of our business and we trust them.

“I am looking forward to continuing to work with such a long-term trusted partner, which will provide us with the assets required to embark on our digital journey and remain ahead of our competitors.”

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.”