RESOLUTION INSURANCE REALIZES EXPANSION PLANS TO TANZANIA WITH SSP PURE INSURANCE - FINANCIAL-24
Resolution Insurance has chosen global insurance technology specialist SSP to provide a new, robust, flexible IT system to underpin its expansion plans. Following private equity investment, the insurer has diversified into the general insurance market and expanded from its Kenyan base into Tanzania.
The deal will see SSP Pure Insurance deployed as a single flexible, end-to-end core insurance solution across Resolution Insurance's operations in Kenya and Tanzania, with local account management support from the Kenyan office.
“Kenya is an important market for general insurance that has grown by 20 percent compound over the last year. I am delighted to be working with Resolution Insurance, a company that shares SSP's commitment to delivering innovative and quality solutions to this market, with the roll out now extended to include its operations in Tanzania.
“Resolution Insurance is part of SSP's African insurance community, whose user group continues to play an important part in driving the roadmap for our Pure Insurance product and strategic investment,” Steve Lathrope, Group Managing Director at SSP said.
Resolution Insurance's vision is to become the recognized leader and preferred provider of insurance services in Africa, with extended access to insurance for millions of low income people across East Africa, leveraging Kenya's strategic position as a regional leader and gateway.
SSP Pure Insurance will provide Resolution Insurance with the self-sufficiency and agility to deliver new products and schemes that meet the needs of these customers, as well as web-based portals that make it easier for brokers and consumers to do business with the insurer.
Maryanne Mugo, Managing Director at Resolution Insurance Tanzania said: “We are targeting 100 percent growth in GWP over the next five years. Although we originally launched as a healthcare insurer, general insurance will play a vital role in our growth plans by becoming the biggest element of the group, contributing around 60 percent of our GWP.
“To be able to realise these plans, we needed a proven, functionally-rich software platform designed specifically for the short term insurance market, and that is what SSP Pure Insurance delivers. As SSP has provided solutions that support the differing requirements of the African insurance market for over 30 years, we will benefit from both its experience and R&D investment in the platform.”
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