Insuranceciooutlook

How the Partnership of SSP and Sacos is Poised to Transform Insurance Services

By Insurance CIO Outlook | Thursday, March 12, 2020

By delivering technologically advanced platforms, the strategic partnership fosters smooth digital transformations for legacy insurers.

FREMONT, CA: SSP, the leading insurtech provider, is partnering with Sacos Insurance Group, which is a Seychelles insurance group offering an expansive range of services. The partnership will progress with SSP deploying its Insurer Platform for Sacos' general insurance business. Within the last few months, SSP has partnered with insurers from several African countries, and the current partnership with Sacos follows the same trend. The strategic partnership is expected to drive value for both the companies involved.

SSP’s new insurance platform, a flexible end-to-end core insurance system for all lines of business and channels with wide-ranging functionalities fits the needs of Sacos perfectly. Sacos was in the hunt for a partner who could facilitate its transformation from a legacy to a modern digital insurer. SSP's expertise in contemporary insurance platforms made it appropriate for Sacos. After extensive deliberations, SSP’s proven records in fostering time-bound digital transformations for insurers projected it as the best option for Sacos.   

“We are a growing business operating in a changing landscape where customer and other stakeholder needs continue to evolve; we need to keep ahead of these changes. We anticipate the arrival of non-traditional competitors and our clients are seeking slicker service levels and our pricing needs to be informed by data insights. We are tired of being reliant on system vendors, working on expensive and inflexible systems, which constrain our product design, reporting and claims processes; we want speed to market. In SSP we believe we have found the right connection and partnership to deliver an enhanced customer experience to all clients and stakeholders,” says Jennifer Morel, CEO Sacos Insurance Group.

For insurers today, competitive ecosystems are demanding quick decision-making and expedited application of strategies. By offering self-sufficiency through its expertise in mixed technology ecosystems, SSP is empowering its insurer clients. “With our self-sufficient solutions, insurance providers can assume control of their trading software and be more agile in reacting to market changes,” mentions Adrian Coupland, Customer and Marketing Director of SSP.

“We are proud to partner with Sacos Insurance Group; our 31st African Insurer customer. Sacos is a prestigious Seychelles insurer, with tremendous experience, who will add great value to our strong African user community. The new insurance solution is a complete, scalable, robust business platform enabling its customers to respond to the opportunities and demands of the insurance marketplace – today and into the future. It also offers a high degree of business ‘self-sufficiency’ across product, pricing and customer interaction ‘change’ with product and pricing agility achieved through no-code product definition. Being an open platform, it is digital and InsureTech friendly; data enrichment services are freely available through its microservices architecture and APIs,” says Leslie Muthen, African Territory Head at SSP, talking about the new partnership and its business relevance.

SSP has been ranked in the Top 10 Insurtech Solution Providers in UK by Insurance CIO Outlook. Apart from the African region, SSP offers strategic solutions across the UK, the Caribbean, and the Asia Pacific, with a client base of over 50,000 users in 50 countries. The innovation-driven company prioritises technological prowess that keeps itself updated for every insurance company’s current demands. The Digital Insurance Platform from SSP offers all the things required to manage clients and their policies, billing and claims while also enabling software vendors to build their functionality into dedicated software products.

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