SOURCE: SSP

SSP

January 06, 2010 12:28 ET

SSP Technology Extends Expansion and Service Capabilities for Island Heritage

DENVER, CO--(Marketwire - January 6, 2010) - SSP, a leading global provider of solutions to property/casualty insurance companies, today announced Island Heritage, a property insurance company specializing in specialty lines and based in Grand Cayman, has recently upgraded to the latest version of SSP's insurance solution (S4i). The company, which insures private homes, offices and condominiums in the Caribbean, has invested further in S4i to support an agency base spread across 16 Caribbean islands and plans for further expansion.

SSP's S4i is a highly-flexible, end-to-end policy administration system delivering underwriting, policy administration, claims management, customer management and full accounting functionality for all lines of business. A fully-scalable, web-enabled solution, S4i provides a modern platform for property/casualty carriers to manage the entire business lifecycle from a single system. With rich functionality, at a fraction of the cost of legacy software systems, S4i delivers self-sufficiency and provides a rapid return on investment.

"This upgrade will allow us to further improve our performance and provides us with a great platform to develop our service offering to agents via our web portal," said Hugo Cardona, COO of Island Heritage. "With a geographically diverse client base and ambitious expansion plans, the ability to service clients efficiently and launch new products into new markets quickly and easily is key. SSP has consistently demonstrated an understanding of our business requirements and has delivered this significant project on time and on budget."

As part of the project, SSP also developed custom functionality designed to handle cover notes, client recording, claims recovery, renewal processing and exchange rates which improves and enhances Island Heritage's complex policy processes. In addition, SSP configured three new products which will be launched in Island Heritage's newest territory. The move to the latest version of S4i provides Island Heritage the ability to access more of the solution's functionality for agents and enables the company to gain process and performance improvements.

"Island Heritage has an ambitious strategy and a clear understanding of how the use of the latest technology can support it," said Andy Lovett, SVP, Americas at SSP. "In addition to the immediate improvements in business processes and performance, this investment provides Island Heritage with the platform to provide a wider range of services to its agents via the Internet, which is especially important as the company continues to expand. We look forward to continuing to work with Island Heritage to further develop their business."

About SSP

SSP is the international expert with the broadest spectrum of knowledge, talent and technology for insurance and financial services, dedicated to long-term business advantage through complete solutions. Supporting over 45,000 insurance and financial services professionals in over 50 countries, SSP offers brokers, MGAs, carriers and financial advisers of all sizes the benefits and security of a global business with the flexibility of a local provider. With over 25 years experience in insurance and financial services and 800+ of the most talented IT professionals, SSP is placed perfectly to offer the widest choice of solutions across multiple IT platforms from IBM, Microsoft or Oracle. SSP has a proven track record and a commitment to delivery, giving customers peace-of-mind. For more information about SSP, please contact Lloyd Bishop via phone 303-209-5914 or email Lloyd.bishop@ssp-worldwide.com, or visit the SSP website at www.ssp-worldwide.com.

About Island Heritage

Island Heritage Insurance Company, Ltd. provides property insurance for residential and commercial customers. The company insures private homes, condominiums, and office buildings. It also provides reinsurance programs. The company was founded in 1996 and is based in Grand Cayman, the Cayman Islands. Island Heritage Insurance Company, Ltd. is a subsidiary of Flagstone Reinsurance Holdings Ltd. For more information about Island Heritage, visit the company website at www.island-heritage.com.

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