SSP, a leading global provider of insurance technology, has made two key senior appointments to its leadership team in order to capitalise on the market opportunities and investments made since the group was acquired by private equity firm Hellman and Friedman in 2008.
Carol Thompson has been appointed chief financial officer and Yvonne Spalding as professional services director. Both will report to Laurence Walker, SSP’s chief executive officer. They are the most recent additions to the SSP team following the appointment of Stephen Lathrope as managing director of its insurer division earlier this year.
SSP’s focus since the Hellman and Friedman acquisition has been on delivering new levels of capability across the organisation, bringing new products to market and investing in its solutions and infrastructure.
With the economic backdrop remaining uncertain and competition across the industry intense, insurers, MGAs and brokers are looking for greater certainty on the returns they achieve from IT investments. This drive for certainty of outcome requires solution providers like SSP to be far more capable, delivering greater value and reducing risk.
Laurence Walker said: “As a result of our acquisition activity from 2003 to 2008 we became a significant player in all segments of the insurance technology value chain and a market leader in a number of important territories. Since then our focus has been on greater efficiency in order to position ourselves for the new competitive landscape. With our shareholders’ support, we have been investing the results of these savings in all aspects of the business including its senior team and we are now positioned to take advantage of all these investments.
“The challenge in the last three years has been to align our organisation to the needs of our customers in the new economic landscape. Clearly, one of the keys to the success of an organisational transformation is the senior team and its ability to drive the organisational change. I am delighted to have been able to attract the very highest calibre individuals to take the business on to the next phase of its development.”
Carol Thompson, who joined SSP on 1 November 2011, brings with her a wealth of finance expertise gained in a variety of sectors. She was formerly chief financial officer at Electricity North West, operating partner at Marwyn LLP and is well respected amongst the banking and financial communities.
Yvonne Spalding, who joined SSP from IT and business services firm Steria to head up the newly established professional services function, has over 20 years’ experience of global systems integration, delivering major system and change programmes.
The SSP leadership team comprises:
• Laurence Walker – Chief Executive Officer
• Carol Thompson – Chief Financial Officer
• Steve Bow – Managing Director, Broker Division
• Stephen Lathrope – Managing Director, Insurer Division
• Yvonne Spalding – Professional Services Director
• Clare Bates – Group HR & Transformation Director
• Duncan MacMillan – Group Operations Director