SSP provides Natsure with a flexible future-proofed solution to support its network of Underwriting Management Agents

SSP, a leading global provider of insurance technology, today announced that Natsure, one of the country’s leading specialist short-term insurance companies, is to implement SSP’s all-in-one policy administration solution to support its fast-growing network of Underwriting Management Agents (UMAs).

Natsure takes an actuarial approach to underwriting and is well known for combining strong partnerships with a focus on innovation in order to provide its network of UMAs with superior products and service. It chose SSP because of the company’s expertise within the insurance market and its ability to deliver a better return on investment than any other provider.

Natsure will be using SSP’s technology to replace its existing legacy system in order to gain greater flexibility and efficiency within its core administration processes. SSP will also provide Natsure with a comprehensive reporting platform in order to guarantee the integrity of its data and ensure that its key compliance objectives are achieved.

“Natsure was looking for a proven flexible solution that could be scaled up very quickly in order to support the company’s projected business growth, but also needed hands-on IT support and a structured programme that would help to support these changes internally,” says Rhys Collins, Head of African Operations at SSP. “We’ve managed to address all these needs and will deliver a powerful solution that will provide Natsure with quick and easy access to the business intelligence that it needs to work with its UMAs effectively. There will also be significant cost savings made possible through greater efficiency and the elimination of manual processes.”

SSP’s policy administration solution will offer much greater functionality than Natsure’s existing system, particularly in the area of reinsurance and through the integration of its accounting functions. Collins says Natsure will benefit from timely and accurate management reporting each month, as well as the quick and easy production of detailed financial reporting – from standard underwriting and claims reports through to income statements and balance sheets – for all of Natsure’s UMAs.

“With SSP we feel that we are getting the best of both worlds, the responsiveness and market knowledge of a local company, backed by the experience and capability of a global insurance IT specialist. Of all the solutions we reviewed, SSP’s offered the best return on investment and the greatest breadth of functionality. We believe the SSP solution will provide us with the vital business intelligence and the flexibility to respond to changes in this highly competitive market and are very confident that SSP will help us to increase both our revenue and profitability,” concludes Riaan van Dyk, managing director, Natsure Limited.