SSP, the leading global supplier of technology systems and software for the insurance industry and honcho, the widely anticipated insurance distribution disruptor, have today signed a contract to integrate the honcho reverse auction marketplace platform into SSP’s systems.
Connecting SSP and honcho paves the way for over 700 of SSP’s partner insurers and customers to access honcho’s platform. Brokers and insurers will now have accessibility to car insurance products via honcho’s electronic marketplace. Moreover, insurers can bid against each other in a real-time reverse auction to win consumers’ business.
honcho’s apps and platform are currently in test ahead of its planned launch in Q2 of this year. With over 10 insurers and brokers already integrated into honcho, this is an exciting time, as work has started to add SSP customers into the honcho marketplace.
Chad Crossman, honcho CTO, said:
“Where insurers or brokers are already connected to a software house, the amount of incremental work for them to connect to honcho is small. We know that several SSP customers are already eager to join the honcho panel and our technology team, along with SSP’s, are working flat out to complete this integration as quickly as possible.”
Ron Atkinson, Distribution Director at SSP said:
“We are excited about working with honcho and this partnership makes it possible for SSP users to promote their brands via honcho. All SSP customers using our Pure Broking and ElectraM3 systems will be able to access the honcho panel, which will open up new channels for new business.”
Commenting on the agreement honcho CEO, Gavin Sewell, said:
“Our platform has been designed to allow a wide variety of marketplace participants to use honcho to distribute their products and we are delighted that from today we are able to add clients of SSP to our ever-growing list of partners. We are committed to bringing transparency, equitability, consumer choice and value to the UK insurance distribution market and signing this agreement with SSP is another big step towards our insurance market revolution.”