SOURCE: SSP

October 01, 2009 16:14 ET

Physician Liability Insurance Company (PLICO) Implements SSP Insurance Solution to Handle Modern Policy Administration Needs

New Technology From SSP Further Enables Dramatic Company Turnaround

DENVER, CO--(Marketwire - October 1, 2009) - SSP, a leading global provider of solutions to property/casualty carriers, today announced that Physicians Liability Insurance Company (PLICO), a professional liability carrier based in Oklahoma City, has recently completed an implementation of SSP's insurance solution (S4i). This implementation is a significant milestone for the company which chose SSP to completely replace its existing legacy system.

Prior to the SSP implementation, like many carriers, PLICO was using an inflexible legacy system which made it difficult for the company to meet the increasing demands of customers. PLICO's executive team recognized replacing the system was a key part of the company's transformation strategy and committed to modernizing technologies and processes through the SSP implementation.

"Our existing policy administration system was holding back the development of the business, so it was vital that we replaced it to ensure that we continued to provide market leading service to our customers," said Carl Hook, president and chief executive officer of PLICO. "Having an IT partner with the depth of knowledge and experience of SSP for such a challenging project was invaluable."

SSP provides PLICO with rich Windows functionality at a lower cost than what would have been possible if the company maintained the existing legacy application, helping PLICO to streamline business processes and improving efficiency across the business.

"With markets changing faster than ever, we needed to be able to quickly analyze our business and rapidly make changes in-house," said Becky Meares, IT director at PLICO. "SSP allows us to do that."

SSP's insurance solution (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, SSP 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, SSP delivers self-sufficiency and provides a rapid return on investment.

"For many years carriers have been putting off replacing their legacy systems due to the risk of project failure," said Andy Lovett, SVP, Americas at SSP. "However there is a growing realization that legacy systems are also exposing the business to risks, in terms of process efficiency, the ability to react quickly to market trends and ease of gaining access to key data. Like other forward-thinking carriers, PLICO has recognized this and have taken the opportunity to replace their core system. With a new generation solution in place this is an exciting time for PLICO and we look forward to working with them over the coming years as they continue to 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 Physicians Liability Insurance Company (PLICO)

Now completing its 30th year of being the medical professional liability carrier of choice for Oklahoma physicians, PLICO is in the process of completing work on a number of projects, including the implementation of SSP's insurance solution (S4i), designed to increase valued products and services to its insureds. Approximately 2900 doctors currently entrust PLICO with protecting their reputations and practices; by year's end, over 1000 will have participated in our Risk Management programs, including our 'Sorry Works' seminars. We continue to successfully defend our physicians, obtaining defense verdicts in every case brought to trial this year. We look forward to the opportunities and challenges we will be encountering in 2010 and beyond.

Contact Information

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