The partnership will open new channels for business 

SSP has signed a contract to integrate Honcho’s reverse auction marketplace platform into its systems.

It will allow 700 of SSP’s partner insurers and customers to access Honcho’s platform.

This means that brokers and insurers will have accessibility to car insurance products via Honcho’s platform.

And insurers can bid against each other in the real-time reverse auction to win consumers’ business.

The news follows SSP revealing its five-year battleplan to grow business as well as help brokers and insurers earlier this month.

It recently said that it is continuing to invest in the SSP broker platform and roll out superior customer products.

Ron Atkinson, distribution director at SSP said: “All SSP customers using our Pure Broking and ElectraM3 systems will be able to access the honcho panel, which will open up new channels for new business.”

Chad Crossman, honcho’s chief technology officer, explained: “Where insurers or brokers are already connected to a software house, the amount of incremental work for them to connect to honcho is small.”

And Gavin Sewell, chief executive at Honcho said that the insurtech is committed to bringing “transparency, equitability, consumer choice and value to the UK insurance distribution market.”