Protection providers know just how vital platform technology is to their continued success and growth objectives, but re-platforming can be perceived as a risk.
There are often years of tech debt to unravel, which can make a big bang launch unpalatable to some, who then look for another way.
The best technology and the best technology providers work with their partners to define the right solution, using the right methodology following a timeline best suited to meet the specific demands of the provider, both today and tomorrow – all without breaching the provider’s risk tolerance.
The Challenges
Our partner had a technology problem. Their existing ecosystem was aging and impacting all aspects of their business. They knew they needed a new, market-leading solution, but they didn’t have the resources or time to dedicate to a complete re-platforming project immediately. They needed to phase the build and deployment of their new platform based on both priority functions and resource available. Their highest priority was to replace their existing distribution management functionality, which was inhibiting relationships and growth.
The Solution
Our partner knew SSG Digital® was the right long-term solution to power their business, joining five other leading protection providers who combined write over 35% of new protection sales with the iPipeline powered engine. But they also knew they needed to fix priority issues quickly, whilst managing internal resource demands. The result was a rapid and phased development programme, utilising the connectivity of SSG Digital to anchor to core systems in the short-term, whilst they were phased out component by component. Less big bang, more fizz , fizz.
At the top of their technology hitlist was to replace their adviser and distribution management system, which was inflexible and as a result inhibiting deal structure – potential growth was being lost and relationships inhibited. Within 11 months, the SSG Digital Agency & Commission Management component had changed the outlook – the first deployed solution integrated simply and seamlessly. This component is a proven solution trusted by two of the market’s three largest individual protection providers.
The Results
As a result, our partner has:
- A new, market proven, Agency and Commission Management solution that can handle all the needs of the protection (and more) market and is integrated into their legacy platform.
- Part of a flexible and reliable platform that drives connectivity and growth – though a phased change strategy, enabled by modular architecture and simple API’s.
- Improved customer relationships with new growth opportunities.
Sound Interesting? Let’s Talk!
