Insurance technology specialist SSP signed a deal with Masawara Group of insurance companies that saw a new core insurance system deployed in its units; Botswana Insurance Company, Lion Assurance Company and Zimnat Lion Insurance Company across African territories. The new system called SSP Pure Insurance is already functional. SSP Pure Insurance is a flexible, end-to-end core insurance system, which provides Masawara Insurance Group with the full-cycle policy administration, finance, claims, reinsurance and MI/BI reporting capabilities it needs to drive future growth.
The enterprise solution will also provide Masawara Insurance Group with a web-based employee portal and a broker portal, which will make it easier for brokers to do transact with the three insurers through online e-trading.
Mr Adrian Coupland, customer and marketing managing director at SSP, said SSP was delighted to extend its partnership with Masawara Insurance Group.
"With our existing customers, Botswana Insurance Company and Lion Assurance Company, and their sister company Zimnat Lion Insurance Company, all live on our market-leading platform, they can benefit from a consolidated solution with best practice configuration and proactive support from the experienced team in our South African office," says Coupland.
Mr Mustafa Sachak, chief executive officer of Masawara Insurance Group commented: "SSP Pure Insurance gives us a future-proof enterprise solution with the capability and flexibility for us to be self-sufficient, as well as centralised reporting and intelligence for the data across all three insurers.
SSP has over 30 years' knowledge and experience of the African general insurance market, and has delivered the same SSP Pure Insurance package to more than 50 short-term insurers. This gives us the confidence that we have adopted a proven solution that has benefited from $7,2 million of R&D investment over the last three years."
Mr Stanley Mazorodze, managing director at Zimnat Lion Insurance Company Limited concludes: "We are committed to making a real difference to the lives of Zimbabweans through providing superior products and customer service.
"By adopting SSP Pure Insurance, we have not only implemented a proven functionality-rich platform designed specifically for the short-term insurance market, but can also benefit from SSP's constant investment in its technology, service and people. As a result, we have the capabilities and support necessary to make our clients' lives better today and in the future as the market changes," Mr Mazorodze said.
SSP is a global provider of technology systems and solutions across the entire insurance industry, using our expertise to enable our customers to transform their business and increase their profitability.
SSP provides core technology solutions, distribution and trading capability, advanced analytics and solution delivery. It works with eight of the top 10 UK insurers, four of the top 10 global insurers and over 40 percent of UK brokers.