Insurer selects tech firms to replace decade-old system

Insurer selects tech firms to replace decade-old system | Insurance Business

Insurer selects tech firms to replace decade-old system
Insurer RACTI has chosen SSP Pure Insurance and Dataract E5 Workflow to replace its existing legacy system which was developed internally by the company in the mid-1990s.

SSP Pure Insurance is an end-to-end core insurance system for all lines of business, with modules including product development, policy administration and claims management.

It is a fully scalable, web-enabled solution, and provides a platform for insurers to manage the entire business lifecycle from a single solution.

By reengineering its business process around the new SSP Pure Insurance and Dataract E5 Workflow applications, RACTI says it will be able to benefit from enhanced operational efficiency.

In addition, the product builder tool within SSP Pure Insurance will enable the company to flex and launch new products more quickly, potentially making RACT Insurance more agile in its response to market change.

This builds on a particularly strong year for SSP in Australasia. With four out of eight new client wins coming from Australia alone, SSP now has 27 customers in Australia and New Zealand.

“One of the reasons why we chose to work with SSP was the confidence we got from being part of a wider user community,” said Trent Sayers, CEO at RACT Insurance.

“On top of this, we expect to gain a number of significant advantages from the new system. In addition to improved operational efficiency, the integration of, for example, our member system with a modern platform will enable us to deliver the flexibility and service that customers demand, both now and in the future.”

Steve Lathrope, managing director of SSP Insurer Division said: “With costly and inflexible legacy systems representing a long-term constraint, insurers like RACTI are now investing in IT modernisation projects delivered by companies with proven experience.

“SSP Pure Insurance’s modern platform will make it faster and easier for RACTI to add new functionality, respond to change and modify its processes in order to transform the business and deliver future growth.”