Making the most of SSP Marketplace

May 27, 2015 SSP Limited

SSP Marketplace is our e-trading portal, with straight-through processing providing optimal efficiency for both brokers and insurers. It enables brokers to present and trade in excess of 60 lines of business, with all the quotes in one system, avoiding the multi-keying of data and reducing the amount of administration required.

But don’t just take our word for it. We’ve spoken to two SSP customers, one at the start of their Marketplace journey and the other a long-term user of the proposition, to see what benefits they have realised.

SSP Marketplace makes it easier to place business

“SSP Marketplace enables us to conduct a fair analysis of the market. As it allows us to quantify quotes on one sheet of paper, we can look at all the different ones and compare the policy wording.

Then, once the business has been placed, we can pull off the documents straight away to issue clients with their policy wording. In addition, we can talk to clients about endorsements to modify the coverage provided.”

Karen Collo, owner of Wetherall Insurance Advisors Ltd

Providing the exact cover clients need

“SSP Marketplace offers clients exactly what they need, as it is fairly easy to compare policies and the cover provided.

When we compare all the quotes put on, they might be a different price and we can see the justification for those differences.

“In addition, as the SSP system enables us to look at a client’s risk details on screen, we can access information a lot quicker without going through all their details. For example when a domestic heating engineer came in and asked if they were covered for gas on their Tradesman policy, it was easy to check what we had put in for the risk screens."

Karen Collo, owner of Wetherall Insurance Advisors Ltd

Halving processing time with SSP Marketplace

“We have just started using SSP Marketplace, purely and simply for property owners.

“We will see the full advantages from SSP Marketplace in a year’s time, when we are able to benefit from the initial data collection and have the ability to rebroke easily via the application. We see it halving our processing time for business.

Currently, it can take up to an hour to process a single property owner, but this can take just 15 minutes with SSP Marketplace.”

Nick Cooper, Private Client Manager at C. R. Toogood & Co. Ltd

About the Author

SSP Limited

As the leading global supplier of technology systems and software for the insurance industry, our role is to help insurers and brokers operate more efficient businesses. So whether you’re a global insurer or an MGA, a high street broker or a start-up with a smart new idea, we can be trusted to support you on your journey, whatever the destination.

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