SSP is pleased to announce the signing of a second insurer to the market-leading solution, SSP Intuition. Powered by Amazon Web Services (AWS), SSP Intuition is SSP’s centralised risk selection and rating data lake, providing access to more than one billion quotes and quote responses. Through it, Ageas will be able to access invaluable insight delivered by the solution, giving the company the ability to make even better-informed pricing decisions tailored to each risk.
When using SSP Intuition, insurers derive real-time results through access to quote performance data across the entire SSP broker community. With data from over one billion intermediated quotes and quote responses across private motor, commercial vehicle, motorbike and household, the solution allows for confident business decisions to be made through data insight.
The data solution allows Ageas to assess its position within the market, with pinpoint laser accuracy, highlighting any potential gaps or pitfalls across all lines of business.
Glyn Hughes, Director of Personal Lines Underwriting at Ageas said: “Being one of the UK’s largest car insurers, we look to constantly evolve our processes to ensure we stay ahead of the game and continue to offer competitive rates to the market. SSP Intuition lets us do this with ease, providing the detailed insight we need. We look forward to supporting our brokers to be more competitive through the use of this solution seeing how our business continues to excel as we benefit from this solution.”
Ron Atkinson, Distribution Director at SSP said: “Our daily interactions with both brokers and insurers have enabled us to amass data from over 1 billion intermediated quotes along with details of quote returns and sales which, when anonymised and structured, provide insurers with insights never before possible. The insights show market trends along with their own product and scheme performance. They have the ability to analyse the impact of rating changes by rating factor, to uncover potential gaps in their rating and across multiple product lines. We are delighted to have developed SSP Intuition in association with AWS and look forward to demonstrating the capabilities available.”
Notes to editors
SSP has over 35 years’ experience and is a global provider of technology systems and solutions across the entire insurance industry, enabling its customers to transform their business and increase profitability. SSP provides core technology solutions, distribution and trading capability, advanced analytics and solution delivery. It works with 8 of the top 10 UK insurers, 4 of the top 10 global insurers and over 40% of UK brokers. SSP Intelligent Quotes Hub is a centralised product rating, pricing and quotation solution, making use of data from a variety of sources to optimise your prices. SSP Verify is a sophisticated fraud detection solution that helps identify potentially fraudulent behaviour on motor insurance applications, pre-inception. www.ssp-worldwide.com
Ageas is one of the largest general insurers in the United Kingdom, providing insurance to over five million customers. It offers car, home, pet, travel and small business insurance through brokers, affinity partners and its own brands. Ageas UK holds a majority share in Tesco Underwriting, providing home and motor insurance to Tesco Bank customers. Ageas is a wholly owned subsidiary of Ageas Group, which is listed on the Belgium stock exchange.
Ageas (UK) Limited registered office: Ageas House, Hampshire Corporate Park, Templars Way, Eastleigh, Hampshire, SO53 3YA. Registered number: 1093301. Registered in England and Wales.
SSP Press contact
Phone: 0121 779 8447
Ageas press contact
T: 02380 313147