Physicians Liability Insurance Co. (PLICO), a professional liability carrier based in Oklahoma City, recently completed an implementation of an insurance solution (S4i) from SSP. This implementation represents a significant milestone for the company, which chose SSP as the technology solution provider to help completely replace its existing legacy system.
Prior to the SSP implementation PLICO was using an inflexible legacy system that 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, PLICO’s president and CEO. "Having an IT partner with the depth of knowledge and experience of SSP for such a challenging project was invaluable."
SSP provides PLICO with Windows functionality at a lower cost than what would have been possible if the company maintained the existing legacy application, notes the vendor, helping PLICO streamline business processes and improve 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 flexible, end-to-end policy administration system comprising 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."
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