SSP gears up for electronic delivery of motor insurance certificates
SSP has signed a multi-year exclusive contract with SDX Messaging (SDX), a leading provider of secure digital communications solutions, in advance of the Department for Transport's (DfT) expected decision to make the electronic delivery of motor insurance certificates legal in early 2008.
Under the terms of the agreement SDX will work in partnership with SSP to provide its technology to SSP's intermediary and insurance company customers in the European Union and Africa.
The growth of the internet has radically transformed the behaviour of consumers and their expectations. The internet channel accounted for 36% of all motor insurance new business sales in 2006 (Datamonitor) and 40% of all vehicle excise duty (DfT), making the exchange of digital information via email increasingly important. However, as unprotected digital content can be readily examined, duplicated and altered, intermediaries and insurers have been limited in their ability to adopt it, particularly for client communications. Now, however SSP and SDX have removed these limitations.
Intermediaries and insurers that aggressively implement secure messaging will develop a powerful competitive advantage by improving their service and cutting costs. Reduced print, paper and postage costs alone can often justify the cost of implementing SDX. Some obvious opportunities are the electronic delivery of notifications such as quotation and renewal documentation and soon schedules and certificates of insurance.
Laurence Walker, Chief Executive of SSP said, "With around 32 million vehicles in the UK that need insuring every year this is a massive opportunity to cut unnecessary costs out of the industry. As well as allowing intermediaries and insurers to provide a faster, more cost effective and secure service to their customers, it will also significantly reduce the need for paper and packaging materials. This will have a positive impact for consumers, the industry and the environment."
Commenting on the partnership, Philip Thurgood, Managing Director at SDX said, "We are delighted to have been selected by SSP to work on its new initiative. With a customer base that encompasses every sector of the insurance industry SSP can help its customers drive significant costs out of their business and significantly improve the service they provide."
Earlier this year BIBA estimated that the digital delivery of insurance certificates would save brokers £11m.
09/11/2007
