A Halifax-based firm has announced an exciting breakthrough which will help insurers integrate telecommunications.
SSP, of Dean Clough, is a global provider of general insurance technology solutions.
It has enhanced its core insurance systems to allow for the introduction of telematics products faster and cheaper than would otherwise be possible using existing systems.
The development provides insurers with the capability to overcome inflexible existing processes which have been a significant barrier.
The new capability is already used by QBE, Australia’s largest international general insurance group.
SSP’s configurable software allows data integration via fixed black boxes, smartphone apps or an on-board diagnostic device.
The data generated is transformed into a driving score which is transmitted to SSP’s systems, allowing insurance companies to calculate individual premiums at any point in the life of the policy.
Cheif executive Laurence Walker said: “This is another demonstration of our commitment to continuously enhance our solutions to provide insurers and brokers with the tools they need to compete effectively.
“In particular, we want to help our clients maximise the growing demand for telematics policies – a market that is set to grow rapidly over the next few years.”
SSP employs hundreds, including more than 200 in Halifax, and its latest revenue figures topped £70 million.