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Physician Liability Insurance Company (PLICO) Implements SSP Insurance Solution to Handle Modern Policy Administration Needs
New Technology From SSP Further Enables Dramatic Company Turnaround
| Source: SSP
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.