SSP today announced that it has renewed and extended its long-standing relationship with Swinton, Britain's biggest high street insurance retailer, to provide IT solutions for its nationwide branch network, call-centre and web-based operations.
Under the terms of the new five-year agreement, insurance technology specialists SSP will provide Swinton’s personal lines broking systems alongside new technologies to support Swinton's ambitious business plans. In addition, Swinton will adopt SSP Quote Hub to enable it to enhance data enrichment at the point of quote and work with its insurer partners to deliver product innovation.
As well as providing access to SSP’s standard third-party data sources, SSP Quote Hub will enable Swinton to exploit its own data and other third party data to build its own sophisticated pricing models.
At the same time, the SSP Quote Hub solution allows Swinton to meet the needs of its insurer partners, allowing them to update their rates and products in real-time, improving their responsiveness and reducing their distribution costs. By validating and pricing risks more accurately the solution also reduces the incidence of application fraud, providing better loss ratios to insurers and reducing their cost of doing business with Swinton.
Ian Chapple, Chief Information Officer of Swinton, said: “I’m delighted to announce the extension of our relationship with SSP, continuing our highly successful partnership which dates back to the mid 1980s. Over the last few years SSP has been a vital technology partner within our overall IT strategy, supporting Swinton’s growth into a true multi-channel organisation and facilitating product diversification. SSP has an excellent track record of service, performance and innovation with us, and having them alongside Swinton for the next stage of our journey, with their outstanding industry experience and solution portfolio, is absolutely essential.
One of my key aims has been to look at our systems and evaluate how they best serve our current and future needs. Quick and cost effective access to a wide range of independently verified data sources is clearly essential in today’s market. We are looking forward to working closely with our insurer partners to fully realise the benefits of this industry leading technology, building upon the market leading position we've already secured in this area and allowing us to further differentiate our customer offering.”
Commenting on the agreement, Laurence Walker, Chief Executive of SSP, said: “We are delighted to have extended our long-standing relationship with Swinton. Swinton has always been at the forefront of the industry, adopting innovative solutions to improve its efficiency and differentiate its service. Since we launched SSP Quote Hub just over 12 months ago to provide links to third party data providers to validate and enrich quote data, we’ve seen an explosion in the use of data. By adopting our industry leading hub Swinton will be able to further develop its use of data and sophisticated rating in conjunction with their insurer partners to deliver even better service to their customers.”