SSP and Sacos Insurance take Seychelles to the next level with a new insurance platform

March 5, 2020 Press Office

SSP is thrilled to announce a new strategic partnership with Sacos Insurance Group to deploy a SSP Insurer Platform for its general insurance business. Sacos is the fifth new insurer client to sign with SSP in the last 14 months, to join a community of 30 short term insurers across 13 African countries. This is testimony to the significant three year investment programme and focus which SSP has made in the African market and is the first of a series of success stories that will be made over the coming months.

After an extensive market review and selection process, SSP’s new insurance platform was the ideal solution for Sacos. A flexible end-to-end core insurance system for all lines of business and channels, with full breadth of functionality required by Insurers, Managing Agents and Brokers. Sacos recognised it needed to transform its legacy platform and evolve to be a truly digital insurer. It also needed to support its clients and brokers in the way they wanted to engage, whilst offering products and services for both their traditional client base and the growing millennials whose insurance needs are changing.

Sacos has partnered with SSP to deploy a new contemporary and proven insurance platform for its general insurance business. Key to the selection, was SSP’s expertise and experience in transforming insurers from legacy platforms to becoming truly digital. They had a proven record of delivery within a tight timescales, alongside being able to provide a platform that could support a wider eco-system through integration via its API layer.

Sacos Insurance Group is a Seychelles insurance group offering an expansive range of services across general insurance, life assurance and property management. With a strong legacy built over the past 40 years, Sacos places people at the core of its services and success. Evolving through adaptability, versatility and commitment to reinvention.

Jennifer Morel, CEO Sacos Insurance Group commented:
“We are a growing business operating in a changing landscape where customer and other stakeholder needs continue to evolve; we need to keep ahead of these changes. We anticipate the arrival of non-traditional competitors and our clients are seeking slicker service levels and our pricing needs to be informed by data insights. We are tired of being reliant on system vendors, working on expensive and inflexible systems, which constrain our product design, reporting and claims processes; we want speed to market. In SSP we believe we have found the right connection and partnership to deliver an enhanced customer experience to all clients and stakeholders.”

Leslie Muthen, African Territory Head at SSP, said:
“We are proud to partner with Sacos Insurance Group; our 31st African Insurer customer. Sacos is a prestigious Seychelles insurer, with tremendous experience, who will add great value to our strong African user community. The new insurance solution is a complete, scalable, robust business platform enabling its customers to respond to the opportunities and demands of the insurance marketplace – today and into the future. It also offers a high degree of business ‘self-sufficiency’ across product, pricing and customer interaction ‘change’ with product and pricing agility achieved through no-code product definition. Being an open platform, it is digital and InsurTech friendly; data enrichment services are freely available through its microservices architecture and APIs.”

Download the full press release

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