SSP and Capgemini Partner to Improve Insurance Company Competitiveness
July 24, 2015
Capgemini (News - Alert), a recognized international provider of consulting, technology and outsourcing services, and SSP, a global provider of insurance technology, ’ have entered into a services agreement focused on enabling general insurers to accelerate their digital ambition and replace legacy systems.
The partners are promoting the relationship as leveraging Capgemini’s insurance expertise as a systems integrator and process improvement experts and the benefits of their ability to support SSP’s Select Insurance platform and distribution/data services for UK insurers. The SSP Select Insurance platform provides a combination of flexible, agile core underwriting, policy administration and claims functionality, coupled with multichannel distribution that supports customers interacting direct, through aggregators, brokers or affinity partners - and via PC, smart phones or tablet.
As noted in the announcement of the partnership, Two leading UK insurers have already chosen SSP to instigate their digital programs and Capgemini is already supporting this work. It is cited as an example of how the partnership can help insurers modernize digital programs for household and automotive insurance.
Stephen Lathrope, managing director of SSP’s Insurer division, stated
“In today's increasingly competitive market, flexibility, and the ability to provide a consistent experience to customers across all channels is more important than ever. We are delighted to be working with Capgemini to add to our ability to create innovative digital insurance solutions for our customers, and to accelerate the pace with which we are able to help them to realize these ambitions,” said Stephen Lathrope, Managing Director of Insurer at SSP.
“Insurers are looking for cost-effective ways to create the capabilities that they need in order to drive profitable growth. Legacy platforms don't provide the flexibility or agility that insurers need in order to compete successfully, but implementing new platforms and achieving a smooth migration can be challenging,” said Nigel Walsh, Vice President and Head of UK Insurance, Capgemini. “Capgemini has a strong record in working with insurers from digital strategy to design, implement, and run business critical systems. We are delighted to be working with SSP and the Select Insurance product”.
Much has been made recently about the lack of speed at which insurers are investing in new digital technologies and how this imperils their future as “disrupters” have targeted insurance as a vertical with tremendous opportunities. In the hotly competitive UK insurance market, Capgemini and SSP see opportunities to enable current insurers to transform their operations to successfully compete.
Edited by Peter Bernstein