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Halifax Head Office

Second Floor G Mill, Dean Clough
Halifax
GB

Solihull Office

2500 The Crescent,Birmingham Business Park
Solihull
GB

Guildford Office

1st Floor,20 Nugent Road, Surrey Research Park
Guildford
GB

Dublin Office

87 Merrion Square South
Dublin
IE

India Office

5th Floor,Golf View, Corporate Tower A, Sector Road, Sector 42, Gurgaon, 122002, Haryana
Gurgaon
IN

South Africa Office

Sandown Mews West,88 Stella Road
Sandton
ZA

Kenya Office

1st Floor,Concert House, Wood Avenue, PO Box 10023
Nairobi
KE

Melbourne Office

Suite 2, Level 3, 293 Camberwell Rd
Camberwell
AU

Sydney Office

Level 14,Lumley House, 309 Kent Street
Sydney
AU

New Zealand Office

Level 4,Equitable House, 57 Symonds Street
Auckland
NZ

USA Office

6465 S. Greenwood Plaza Blvd,Suite 170
Centennial
CO
US

Telephone

07476383407

Contact

Alex Williams
[email protected]
Back to all SSP Limited announcements

SSP solution drives product innovation and distribution

SSP, a leading global provider of insurance technology, has integrated its Marketplace broker e-trading portal with SSP Pure Insurance to make it easier for insurers and MGAs to save time and money, become more innovative through e-trading commercial risks and schemes with brokers, and gain access to a distribution network transacting around £2.6bn in commercial lines business. 

This integration significantly removes the cost and time barriers for building new products and schemes. In addition to the 60 products already available in Marketplace, the process of building new ones is straightforward. Insurers and MGAs generate web-enabled products via a spreadsheet product builder tool within SSP Pure Insurance and all the components are then exported to Marketplace. 

From here, the products can be distributed to a wider market through the broker channel, which includes SSP’s 1000 strong broker base and non-SSP brokers. 

With a build time of at least 50% less for Marketplace and substantially lower costs, insurers can develop products directed at particular niches and target markets far more efficiently, enabling them to meet changing consumer requirements. 

The integrated solution enables insurers to react in real-time and vary their rates to reflect changing market conditions, and also provides them with the full risk data set rather than an aggregated subset. As a result, they receive the accurate management information and data required to report back to the FCA under the forthcoming Solvency II requirements. 

Brokers can also achieve significant time and efficiency savings as the integrated solution means they simply have to key in client information only once, removing the errors and omissions that occur when data is re-keyed several times. By making it as easy as possible for brokers to do business with them, insurers and MGAs are able to gain a significant competitive advantage. 

Dean Richardson, Head of Sales for SSP’s insurer division in Europe, said: “Our insurer and MGA partners require access to distribution, want to e-trade risks electronically with brokers, and need to reduce the cost and time taken to launch new products and schemes. 

“This was no small challenge for us to take on. Yet, by enabling our insurers and MGAs to build products once in their SSP Pure Insurance system and then make these available to over 1,000 brokers via Marketplace as a seamless part of the process, we have met all their requirements. 

“Our brokers also benefit by having increased access to innovative products and schemes without the need to rekey data across numerous extranets. That makes it a win-win solution.”