SSP has launched a new broking solution called SSP Broking.
The exciting new product brings together the company’s 30 plus years of experience in specialist broking technology with components of competitive third-party providers.
SSP Broking has been developed to meet the needs of the evolving intermediated market. It provides a full range of Quote and Buy and self-service capabilities, with a communication solution aimed at making the user experience smooth and slick.
The platform covers both personal and commercial lines business in a “clean, intuitive and simplistic way,” according to Adrian Coupland, SSP customer and marketing managing director.
“At SSP, we really understand the market. We understand how consumers buy, how insurers underwrite and how brokers sell policy,” he told Insurance Business. “SSP Broker is the result of all of that experience being brought into our latest generation of product.
“You can almost compare it to a consumer-style website rather than a back-office administrations solution. It’s really clean, easy to use and it gives a really nice consistent experience whether you are doing a personal lines quotation or a commercial lines quotation.”
The software provider is proud to be able to target both personal and commercial lines in the intermediated market. Personal lines electronic trading has become the norm in the last five or six years but the commercial sector remains quite far behind. Policies in commercial lines tend to be far more complicated to write and therefore more difficult to commoditise.
“At SSP, we have a broad church of customers, with some really large commercial lines and personal lines brokers - so we have more of a generalist approach to things,” said Coupland. “We actually have more commercial lines gross written premium controlled by our brokers than we do personal lines, which is an interesting fact because a lot of the market looks at SSP and thinks it’s a personal lines system.
“We also stand out from our competitors because we have a different view of the market. We provide technology to insurance companies as well as the intermediated market. A lot of our competitors don’t really do that. It gives us a broader view of the industry, which comes through in terms of our research, product development and where we spend our money.”
SSP Broking comprises of:
- A core broking technology platform that processes over £5bn 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 communications module for complete control of all customer communications.
Coupland added: “Our new solution makes the whole process more simplistic. It provides a de-cluttered process, clean lines and an easy intuitive business solution. We have regular forums with our broker community to get feedback into our products.
“One of the key areas of improvement fed back to us was around speed of process. Our brokers and insurance company customers want to provide a slick service to the consumer. SSP Broking is an easy solution for them to navigate through.”
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