Insurance brokers in New Zealand this week got their first look at a new broking platform from UK based insurance software company SSP, claimed to be a complete solution for the digital age. The move follows SSP completing migration of its hosting for New Zealand customers from the UK to Australia and the announcement of the new software in the UK in June.
SSP’s chief technology officer, visiting Auckland for the launch, told Computerworld NZ that the company has about 50 broking customers and a number of insurers in New Zealand using its software. He said New Zealand was the company’s main market outside the UK.
“We are creating a digital insurance platform that gives brokers the capability to do self service to their customers; quote and buy if they wish and centralised generation of digital content: documents, emails, SMS social media feeds.”
He said first customer for the new platform would go live in the UK in September and it would be delivered to New Zealand customers from early 2018.
Gaut said SSP had acquired a number of other insurance software companies over the years and the new product represented a combination of the functionality of these. “We have an insurance platform that has gone live in the UK with a couple of our customers, a large insurer and another broking organisers that delivers a supermarket’s insurance brand through the platform. We have taken components of that and created a broker variant, SSP Broking.”
According to SSP the product brings together its 30 plus years of experience in specialist broking technology with components from best-of-breed third party providers. “SSP Broking works for all brokers in all channels, which is a key differentiator in an area where SSP has seen its competitors fragment and focus on opposite ends of the market,” SSP claims.
It says SSP Broking comprises: a core broking technology platform that processes over £5bn ($NZ8.9b) worth of premiums and over a billion quotes annually; an intuitive user experience platform proven across the financial services sector; a workflow management system to help optimise business processes; the SSP Intelligent Quotes Hub centralised product rating, pricing and quotation solution; a best-of-breed communications module for complete control of all customer communications.
SSP entered the New Zealand market in 2006 by acquiring Sirius Datasure, a company that had its origins in Multipac, launched in 1983 and that became the most popular policy and accounts software package for New Zealand insurance brokers.
SSP now hosting in Australia
Earlier this month the company announced it had completed the migration of its New Zealand broker customers to Australian hosting company Interactive. The move followed a major outage last year at a UK data centre that had major impacts on SSP’s customers globally.
SSP New Zealand manager, Samuel Finkle, said a number of customers had been on the new system for more than a month and feedback had been positive.
The company quoted one customer, Rosser Underwriting managing director, Andrew McFetridge, saying the move had produced a noticeable improvement in service. “Since transitioning to the new platform, we immediately noticed the speed and stability of the system, the opening and uploading of our documents improved significantly,” he said.