Leading global provider of general insurance technology solutions, SSP, has appointed IMD Company Ltd as its Thailand partner.
The business focus is on enabling Thai insurers to increasingly become digital and replace their legacy administration systems. The relationship brings together IMD’s local insurance knowledge and expertise and SSP’s Select Digital Insurance platform for the Thailand market.
SSP’s Select Digital Insurance product combines underwriting, policy administration and claims functionality on the one platform, coupled with multichannel distribution that supports customers interacting direct, through agents, Bancassurance or affinity partners and via PC, smart phones or tablet devices.
It said the solution is internationally proven with the largest implementation in Asia supporting over 50 product lines, 10m policies and in excess of 2,500 users and agents.
Legacy platforms do not provide the flexibility and agility needed
Mr Paul Miller, SSP Asia Pacific General Manager, said it seemed Thai Insurers were increasingly looking for cost-effective ways to create the capabilities they needed to drive profitable growth.
“Legacy platforms just don’t provide the flexibility or agility insurers need to compete successfully or provide the digital distribution sophistication that Thailand customers and agents currently expect and demand,” he said.
“SSP Select Insurance has the capability to equip insurers to rapidly deliver these digital services at a price-point which underpins Thai insurers’ profitability, fast return-on-investment and growth objectives,” he added.
Benefitting Thai insurance customers
Mr Wiboon Thabsuwan, CEO IMD in Bangkok, said it was encouraging to see SSP making both a large investment and a long-term commitment to bring insurance technology-led Innovation to the Thailand market.
“Ultimately our partnership will benefit Thai insurance customers as digital insurance focuses on better customer service, customer understanding and enabling customers to engage through their channel of choice, whether via agents, mobile, web or call centre,” Mr Thabsuwan said.