Masawara signs up SSP to grow insurance

Insurance technology specialist SSP has signed a new deal with Masawara to provide end-to-end core insurance system to the Jersey investment-registered company’s three insurance units.

BY BUSINESS REPORTER

The deal has SSP Pure Insurance deployed across Botswana Insurance Company Limited, Lion Assurance Company Limited and Zimnat Lion Insurance Company Limited.

It will provide Masawara with the full-cycle policy administration, finance, claims and reinsurance among others it needs to drive future growth.

The solution will also provide Masawara with a web-based employee portal and a broker portal, which will make it easier for brokers to do business with the three insurers through online e-trading.

“With our existing customers, Botswana Insurance Company Limited and Lion Assurance Company Limited, and their sister company Zimnat Lion Insurance Company Limited, all live on our market-leading platform, they can benefit from a consolidated solution with best practice configuration and proactive support from the experienced team in our South African office,” Adrian Coupland SSP customer and marketing managing director said.

Masawara Insurance Group CEO Mustafa Sachak said: “SSP Pure Insurance gives us a future-proof enterprise solution with the capability and flexibility for us to be self-sufficient, as well as centralised reporting and intelligence for the data across all three insurers”.

“SSP has over 30 years’ knowledge and experience of the African general insurance market, and has delivered the same SSP Pure Insurance package to more than 50 short-term insurers. This gives us the confidence that we have adopted a proven solution that has benefitted from $7,2m of R&D investment over the last three years,” Sachak said.

Zimnat Lion Insurance Company Limited managing director, Stanley Mazorodze said his company was committed to making a real difference to the lives of Zimbabweans through providing superior products and customer service.

“By adopting SSP Pure Insurance, we have not only implemented a proven functionality-rich platform designed specifically for the short-term insurance market, but can also benefit from SSP’s constant investment in its technology, service and people. As a result, we have the capabilities and support necessary to make our clients’ lives better today and in the future as the market changes,” Mazorodze said.

SSP is a global provider of technology systems and solutions across the entire insurance industry, using its expertise to enable customers to transform their business and increase profitability. SSP works with 8 of the top 10 UK insurers, 4 of the top 10 global insurers and over 40% of UK brokers.

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