Case study: Binfield Commercial Insurance Brokers

March 31, 2015 SSP Worldwide

Independent broker upgrades from Electra M3 to SSP Pure Broking.

Download the full case study here


Business: Independent local broker, with 70% commercial and 30% personal lines business
Number of employees: 7
Head office: Aldershot, Hampshire
Number of live policies: 2,500
Annual GWP: £1.9m


For Phil Binfield, of Binfield Commercial Insurance Brokers, SSP’s support was crucial when he decided to upgrade his broking system.

Why did you change your system?

“Why make the switch? It’s simple. With Pure Broker, we can always access the system – that’s the main single benefit. The other is data security. We had a problem with our server when we were on Electra, and one of SSP’s engineers came out to have a look. It turned out our server hadn’t been taking any back-ups for six months!

“So if we’d had a fire, say, we would have lost six months of data. That just made my mind up for me. From a disaster recovery point of view – an FCA point of view – I wasn’t very comfortable with that.

“The initial attraction of Pure Broker was that – as a web-based offering – if the office burned to the ground tomorrow then, through our laptops and so on, we’d still be able to carry on working.”

How did the data transfer go?

“There was some pain in working through the transfer itself, but that’s true of any data transfer. It took me twelve months to run all the information off the Electra system because I decided to do the transfer manually myself.

“The question is whether the system you’re installing will give you enough benefits to make the change worthwhile – and that’s definitely the case with Pure Broker.

“I’d say it was the people at SSP who helped make the difference. They were good to work with, so I had that peace of mind that if anything else went wrong they’d be able to sort it out quickly. It’s the support and the people, not just the technology.”

“Helping us grow by around 50%”

“When we changed to Pure Broker we had around 1,000 clients, whereas now, almost two and half years later, we have around 1,700. In the last year and a half we’ve grown the volume of GWP we handle by about £600,000. We’re still growing and are actively seeking new business through tactics such as email marketing – we’re expecting to reach £1.9m GWP by the end of the year.

“The system has helped because we’ve been able to work more efficiently and save so much time – not just with generating documents instantly and avoiding all that rekeying, but also by avoiding the downtime we had when we were running our own server.”

“It’s a much better system”

“It’s a much better system. The email integration is excellent. You can get an email and generate 70- page policy wordings, scheduling and certifications automatically – and you can archive them and put them straight into the system, rather than having to print it off and scan it all back in again, wasting time and paper.

“The system generates management and cancellation reports – everything you can think of.” 

E-trading platform integration saves time and earns more money

“I like the e-trading platform too – the latest SSP Marketplace version. I didn’t find it so useful when it first started but now it’s really good. And it’s very convenient and time-saving too. You can take out a commercial policy via Marketplace and it generates a policy for you, rather than having to go on an insurer’s website and download policy documents and then set them up as a client on the system – Marketplace does all that for you.

“For me, it works very well for the package policies such as offices and shops.

“Also the extra commission we can earn from using Marketplace is a nice bit of extra revenue. So we’re saving time and earning a bit more money at the same time.”

 

Download the full case study here

 


For more information about SSP Pure Broker, call one of our Business and Broker Development team today on 0800 590 705 quoting this case study, or visit www.ssp-worldwide.com/sspforbrokers

About the Author

SSP Worldwide

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. We work with 8 of the top 10 UK insurers, 4 of the top 10 global insurers and over 40% of UK Brokers. Our unique position in the market, including the largest market share of UK e-trading, enables us to provide leading data insight and unrivalled distribution. Our knowledge, talent and technology capabilities deliver innovative results that make us the partner of choice for our customers.

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