RACT Insurance, the insurance subsidiary of the Royal Automobile Club Tasmania, has gone live with the SSP Pure Insurance offering and e5 Workflow solution after a 19 months implementation phase.
RACT, Tasmania’s main motoring organisation, offers a wide range of motoring services, insurance, tourism and travel products, with its insurance subsidiary providing its members with home, contents and vehicle insurance options.
SSP Pure Insurance is an easily implemented, flexible end-to-end core insurance system solution, providing all of the key components needed to manage an insurance operation including policy administration, product development, claims management, finance, reinsurance and co-insurance as well as inbuilt document management, task management and business analytics.
A fully scalable, web-enabled solution, SSP Pure Insurance provides a modern platform for RACTI to manage the entire business lifecycle from a single solution.
SSP Pure Insurance and e5 Workflow forms a fully integrated solution, with SSP Pure Insurance providing the core insurance capabilities and e5 managing work allocation, task generation and workflow configuration and management.
The highly sophisticated claims workflow facilities will enable RACTI to realise operational efficiencies and generate information intelligence. These include improving speed to market, distributing products more efficiently and dynamically managing risk rating.
Paul Miller, SSP general manager, Asia Pacific said technology was playing an increasingly important role in providing insurers with a platform meeting the needs associated with constant industry changes and modernised products while providing automation of processes and tasks to help reduce operating expenses.
“RACTI was constrained by its legacy platforms, which lacked the flexibility and speed required to respond to an ever changing and competitive marketplace.
“SSP was appointed in September 2013 to replace RACTI’s legacy system and we are pleased that we’ve been able to implement a customised, fully integrated solution for RACTI,” Mr Miller said.
Craig Van Zeyl, Founder and CEO of e5 said it was exciting to see a customer take advantage of the innovation opportunities provided by the e5 and SSP partnership.
“The combination of e5 and SSP Pure provides a truly world class insurance processing capability, and puts RACTI ahead of its competitors,” Mr Van Zeyl said.
According to Trent Sayers, Chief Executive Officer, RACT Insurance, there was a growing need within motoring organisations to understand its members better, the services they use and benefits they receive, and to be able to offer more customised policies.
“Upgrading our systems to SSP Pure Insurance and e5 workflow, and integrating these into our membership system, provides us a strategic platform to compete and grow.
“The implementation of a leading policy administration system allows us to innovate, improve operational efficiencies, and most importantly enhance customer service,” Mr Sayers said.
The contract between SSP and RACT Insurance was signed in September 2013 with the implementation phase finalising in June 2015.