IT provider consolidates position in Asia-Pacific region
SSP has completed the acquisition of the Asia-Pacific INSURE/90 insurer systems business from CSC Computer Sciences.
The deal comes only days after it signed a binding agreement to acquire the Australian insurer systems specialist Koukia Pty Ltd.
The Koukia InsureJ product is effectively a next generation, much improved and latest technology update of INSURE/90, as many of the same designers were involved in both systems, though 20 years apart.
The deal strengthens SSP’s position as a leading specialist provider of general insurance systems and helps to consolidate its position in the Asia-Pacific region, bringing a further 19 important insurance company clients across the territory. The system is used by 14 insurers in Australia with the remainder located across Malaysia, Thailand, Indonesia and Sri Lanka.
In 2005 SSP purchased CSC’s INSURE/90 business in Europe and the Middle East, which was followed by the acquisition of the Africa business last year.
The acquisition of the Asia-Pacific business builds on the success that SSP has seen in these territories and provides the capability to service another important base of INSURE/90 users across the region. The business will report into SSP’s International Division.
David Rasche, executive chairman, SSP said: “We are genuinely excited by the opportunities in Australia and Asia. This acquisition, combined with the Koukia deal, enhances our ability to service our customers around the world and provide a platform for further growth in the region.
"We now have over 750 highly skilled and experienced people focused exclusively on general insurance and financial services solutions worldwide, with 75 plus in Australia/New Zealand. We are confident that our new clients will see benefit from this acquisition, through the additional high quality services and products that we can offer them.
"Many INSURE/90 users are looking to upgrade their systems and we can provide a strong future for their core IT platform as well as helping them become more agile in today’s highly competitive and increasingly e-serviced environment.”
