SSP Broker has activated eight insurer schemes within eight months, with plans for twelve more in the coming months.
This development marks a significant milestone for the insurance technology provider. SSP Broker’s recent products launched include Aviva’s Commercial Vehicle and Household lines, Markerstudy’s Private Car offering, and Covea’s Private Car and Household insurance.
SSP Broker also noted that the increase in its schemes business reflects its focus on offering brokers a broader range of options and maximising the advantages of Insurer Hosted Pricing (IHP), a cloud-based platform.
IHP allows brokers to access real-time rates and underwriting rules directly from insurers, enabling more sophisticated and competitive pricing.
Martyn Mathews (pictured above), managing director of SSP Broker, stated that the company aims to provide brokers with the widest selection of best-in-class schemes to support their growth.
“Schemes are vital to the broking community, offering a competitive advantage in a tough market. They allow brokers to diversify their businesses in some cases and foster long-standing relationships at a time when their customers are looking for more tailored cover and more value for less,” Matthews said.
Read More: SSP Broker bolsters tech with added security
Mathews also noted that SSP Broker is collaborating with some of the UK's largest insurance providers, as well as specialist insurers in areas such as classic cars and motorcycles.
“This series of insurer schemes is a key element in our growth strategy as we continue to build our capabilities to make SSP Broker a trusted ally to the broking community,” Matthews said.
SSP Broker is a division of SSP Worldwide, a global software provider to the insurance industry, serving over 700 clients across six continents and supporting more than 40 business classes.
In 2021, SSP Worldwide was acquired by Vencora, an operating group of Constellation Software Inc. (CSI). CSI, which is listed on the Toronto Stock Exchange, has a market capitalisation of $6 billion and serves more than 125,000 customers across over 100 countries.
What are your thoughts on this story? Please feel free to share your comments below.
