SSP, a leading global provider of insurance technology, today congratulates its client Calliden Group (Calliden) on being named a Model Insurer for 2012 by financial services technology and consulting firm Celent.
In its new report, Celent Model Insurer Asia 2012: Case Studies of Effective Technology Use in Insurance, Australian insurer Calliden has been recognised for its successful implementation of SSP technology. The conversion to the SSP insurance solution in less than a year has allowed it to improve its pricing accuracy, accelerate the launch of new products, and significantly reduce IT and operational costs.
“The vision for Celent’s Model Insurer research is to try to answer an apparently simple question: ‘What would it look like for an insurer to do everything right with today’s technology?’” said Wenli Yuan, senior analyst, Celent Asian Financial Services. “Calliden was chosen for Model Insurer Asia because of the firm’s best practices in effective project management, optimising of infrastructure, improved use of channels, and straight-through processing.”
Nick Kirk, CEO at Calliden said: “Focusing on moving to a single, flexible IT platform to support our unique business model and ambitious growth targets has been a big priority for us over the last few years. The conversion to the SSP solution was essential to allow us to deliver the flexible products and services that today’s general insurance intermediaries expect. This third and final conversion has been the most challenging, but it was still achieved in under a year and we now have a sound platform for future expansion.”
“Congratulations to Calliden on winning their second Celent Model Insurer award,” said Stephen Lathrope, managing director of SSP’s insurer division. “Calliden’s conversion from three legacy systems to the SSP solution has simplified its IT and operational environment resulting in a more streamlined infrastructure and significant cost savings, as well as significant business benefits. In today’s insurance market, responsiveness, data quality and pricing accuracy are more important than ever before, with most legacy systems just not up to the job. This is something that Calliden realised and it’s been a pleasure to see that the flexibility of our solution has helped them to achieve their goals so successfully. Calliden really is a model for other insurers looking to replace legacy systems.”