Zurich has become the fifth top UK insurer to go live with SSP’s Intelligent Quotes Hub (IQH).
The new hub will provide insurer-hosted pricing for Zurich’s personal lines intermediated business.
It will also integrate with brokers’ software housing systems, and is in the process of being rolled out to Zurich’s broker customers.
There is also a single point of data integration for internal and third-party sources, meaning Zurich can consume information from the ever-growing number of external data sources and providers.
Zurich has also deployed SSP Verify, a pre-inception counter-fraud solution. This will minimise fraud at point of quote, allowing the insurer to price more effectively while reducing premium and claims leakage.
SSP customer and marketing managing Director.Adrian Coupland said: “We’re delighted that Zurich has become the fifth major insurer to adopt SSP IQH.
“We have worked collaboratively with Zurich to develop a robust shared understanding of the capabilities required to support its vision for market-leading rating, pricing, data enrichment and fraud detection and how these will be delivered tthrough SSP IQH and SSP Verify.
“As SSP IQH has the ability to handle large volumes of business, it is the ideal pricing and rating solution for the 1.1 million policies and hundreds of millions of quotes that Zurich generates each year.”
“We needed to transform”
Zurich UK personal lines underwriting director Gareth McChesney said: “Our strategy focuses on providing the right general insurance solutions for our individual customers at the right price.
“To continue doing this, we needed to transform our personal lines business to rate and price more accurately, based on individual risk.
“The collaboration and delivery focus of both Zurich and SSP continues to enable us to deliver this essential capability to the marketplace.”
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