SSP is thrilled to announce a new strategic partnership with Sacos Insurance Group to deploy a SSP Insurer Platform for its general insurance business. Sacos is the fifth new insurer client to sign with SSP in the last 14 months, to join a community of 30 short term insurers across 13 African countries. This is testimony to the significant three year investment programme and focus which SSP has made in the African market and is the first of a series of success stories that will be made over the coming months.Read more
SSP is delighted to introduce SSP Intuition. Powered by Amazon Web Services, the new data lake solution will allow insurers to build their own unique data insights into their performance.Read more
It’s an exciting time for SSP this month, as it has signed up to become a corporate member of InsTech London. As an insurance technology innovation community, InsTech London is supported by over 80 corporate members and 4,000 people from insurers and tech companies amongst others. The membership will allow SSP to become involved in supporting the insurance community in making it possible for innovators to collaborate with the more established insurance market.Read more
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.Read more
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.Read more
These capabilities have been developed for Zurich’s Personal Lines intermediated business, integrating SSP IQH with brokers’ software houses systems, and is in the process of being rolled out to Zurich’s broker customers.
A sophisticated whole of market product rating and quotation solution with the ability to handle large volumes of business, SSP IQH provides Zurich with the market-leading rating, pricing and data enrichment capabilities it needs to become more agile and competitive in the marketplace.
With a single point of data integration for internal and third-party sources, Zurich can consume information from the ever-growing number of external data sources and providers, and integrate this with its own customer knowledge for greater insight into the risk being insured.
As application fraud is a growing challenge across the insurance industry, Zurich has also deployed SSP Verify, a powerful pre-inception counter-fraud solution. This enables Zurich to minimise fraud at point of quote, allowing the insurer to price more effectively while reducing premium and claims leakage.
Adrian Coupland, Customer and Marketing Managing Director at SSP said:
“We’re delighted that Zurich has become the fifth major insurer to adopt SSP IQH. We have worked collaboratively with Zurich to develop a robust shared understanding of the capabilities required to support its vision for market-leading rating, pricing, data enrichment and fraud detection and how these will be delivered through SSP IQH and SSP Verify.
“As SSP IQH has the ability to handle large volumes of business, it is the ideal pricing and rating solution for the 1.1 million policies and hundreds of millions of quotes that Zurich generates each year.”
Gareth McChesney, Underwriting Director for Personal Lines at Zurich UK said:
“Our strategy focuses on providing the right general insurance solutions for our individual customers at the right price. To continue doing this, we needed to transform our personal lines business to rate and price more accurately, based on individual risk.
“The collaboration and delivery focus of both Zurich and SSP continues to enable us to deliver this essential capability to the marketplace.”