​SSP acquires IS2 in ‘first major acquisition’ since becoming separate business entity

SSP UK and Ireland has acquired insurance technology provider IS2 as its “first major acquisition” since becoming a standalone business.

Founded in 1996, IS2 provides policy administration and product distribution technology to insurers, insurtechs, MGAs and scheme brokers.

Its Atlas platform enables insurers to automate policy administration and distribute products through embedded, direct, retail and wholesale channels.

IS2 also operates RAPID, an API-based distribution platform allowing insurance providers to distribute scheme products across brokers, MGAs, software houses, digital banks, affinity partners and embedded insurance channels.

Market position

The size of the deal has not been disclosed.

SSP UK and Ireland said the move would help bolster its position in the insurance software market and expand product distribution.

Martyn Mathews, managing director at SSP UK and Ireland, said: “This acquisition is an important step forward for SSP UK and Ireland.

”IS2 extends our capabilities into product distribution and strengthens our position in the insurance software market through its advanced eTrading technology. It places us at the heart of commercial product distribution, working directly with the insurers, MGAs and scheme brokers who own and distribute these products.

“Our first major acquisition since becoming a standalone business demonstrates our ambition to grow and it will not be our last. We are actively exploring further opportunities to expand our market presence, with continued investment in technology supporting a strong foundation for long-term growth.”