SSP UK & Ireland has joined the Managing General Agents' Association and launched Pure Product Studio, an AI-based product configuration platform. The moves mark an early step in the software provider's revised focus on the MGA market.
The new platform is aimed at managing general agents and insurers seeking to bring insurance products to market more quickly. It uses agentic AI to create production-ready product configurations from a plain-English description, including screens, business rules and lists.
SSP said product launch cycles that typically take three to six months can now be completed in days. The platform is intended for underwriting, product and claims teams, rather than relying solely on specialist technology staff.
According to SSP, the system also includes product lifecycle management and automated test coverage. It is designed for MGAs and insurers operating across more than one jurisdiction and multiple product lines, including businesses with relatively small IT teams.
The twin announcement follows a restructure at SSP UK & Ireland that has placed greater emphasis on the MGA segment. That part of the insurance market has drawn growing attention from technology suppliers as MGAs look for faster ways to launch and amend products.
Martyn Mathews, managing director of SSP UK & I, linked the association membership and product launch to that strategy.
"Our membership of the MGAA and the launch of Pure Product Studio are early signals of our intention to build a strong portfolio of MGA clients. Our restructure has given us fresh capability to support this market and to give MGAs the technology they need to innovate faster and compete more effectively," Mathews said.
MGA focus
Membership of the MGAA gives SSP a formal position within the trade body representing the UK's managing general agent sector. The group has become a focal point for insurers, service providers and specialist underwriting businesses as the MGA model has expanded across commercial and personal lines.
For software suppliers, the market presents demand for systems that can handle product changes, distribution management and claims administration without long development cycles. SSP said its platform is intended to reduce the time, cost and specialist resource usually needed to launch and maintain insurance products.
Bal Badhan, director of rating and pricing at SSP UK & Ireland, said the company sees that need as central to its approach.
"Joining the MGAA reflects our continued commitment to supporting the MGA community with technology that helps businesses innovate and respond faster to market opportunities. With solutions such as Pure Product Studio, we are enabling insurers and MGAs to reduce the time, cost and specialist resource traditionally required to launch and manage insurance products, while maintaining the governance and control the market demands," Badhan said.
Wider group
SSP operates as a software supplier to the insurance sector and says it works with more than 700 insurance clients across six continents and more than 40 classes of business. In the UK and Ireland, its systems are used by brokers and managing general agents to write and administer policies in personal and commercial lines, as well as manage renewals and claims.
The business sits within Vencora, an operating group of Constellation Software. Constellation is listed in Toronto and has a market capitalisation of USD $6 billion, according to SSP's background information.
The MGAA said SSP's addition reflects the growing role of technology providers in the sector. As MGA businesses expand into new niches and territories, pressure to adjust products and pricing quickly has increased.
Michael Keating, Chief Executive Officer of the MGAA, said: "We are delighted to welcome SSP UK & Ireland to the MGAA. Technology and innovation continue to play an increasingly important role in the MGA sector, and SSP's focus on AI-powered solutions and product agility aligns strongly with the evolving needs of our members and the wider market."