What is a SaaS Solution?
The pace of change in the insurance marketplace and sophistication of customer expectations are increasing every day. To stay competitive, insurers need efficient, nimble, low cost and ‘future proofed’ technology to support their business processes.
Software as a Service (SaaS) solutions are software licensing and delivery models in which software is licensed on a subscription basis and is centrally hosted.
These solutions are being adopted at speed in the insurance industry, providing a radically different model for the use of technology that delivers a much greater level of agility and value for money.
SSP’s Software as a Service is a fully hosted and managed, off-the-shelf service-based insurance technology solution for core business operations. It provides an easily configurable, functionally rich set of capabilities.
SSP's SaaS - what's included?
SSP has collaborated with ‘best of breed’ partners in order to provide this innovative, future proofed solution. It has pre-integrated components to supply a complete end-to-end solution which is delivered as a service, and avoids the need for large scale development and integration.
Meeting the distribution, agility and cost agenda of insurers requires a componentised approach; with each module specifically designed to deliver expert capability. Our solution stack combines cross industry ‘digital’ elements with industrial strength general insurance processing components.
SOFTWARE as a SERVICE FROM SSP
Product self sufficiency throughout the solution:
- Product definition
- Rules and rating
- Document templates
- UX branding and style
User Experience Platform
SSP UXP providing a digital experience for Consumer and Contact Centre users
Pricing / Underwriting and Distribution Services
SSP Intelligent Quotes Hub for centralised rating, pricing, data enrichment and application counter fraud
Core Administration System
SSP Select Insurance as a core policy administration, finance and claims system
Other Solution Components
Other strategic components, e.g.:
- SSP Workflow (E5)
- SSP Customer Communications (Kofax)
- SSP Business Intelligence (IBM Cognos)
SaaS - the business benefits
Quick and easy – Implementation up to 60% quicker than traditional models. SSP's SaaS solution also enables you to retain full control with an easily configurable system.
Low set up costs with usage based payments – Test new products easily and simply pay for what you need with little capital expenditure, with costs up to 60% lower as compared to a traditional deployment model.
Complementary and compatible with any existing or future IT infrastructure – It will adapt to your requirements, and there won’t be a need to buy again.
Incremental, regular updates – Prevents disruption within your organisation by gaining the most up to date functionality through consistent incremental updates. This allows you to focus on business critical tasks.
Industry leading security with data hosted on a private cloud – A privately hosted cloud solution which gives peace of mind with in-built enhanced application fraud prevention.
Multiple deployment options – SSP’s SaaS solution can be used to quickly test a discrete product line, with speed to market for new products being up to 25% quicker, across niche business lines or deployed across all business lines.
To discover more about the competitive advantage SSP’s Software as a Service solution can give your business, fill in the form on this page and we’ll contact you to provide more information, or to arrange a visit.