As a new entrant to the commercial insurance market, Arista Insurance felt the key challenge it faced was to gain the confidence of its customers and ensure they viewed Arista’s solution as credible when assessed against the larger more established players in their market.
Arista successfully implemented another software solution, SSP’s Insight solution for administration of its business. With the back-office administration system in place, Arista looked to provide service and capability to their brokers by extending the system to provide online access to functionality and some of its products, according to David Cheeseman, head of business systems for Arista.
The development of an online trading capability was a key component of Arista’s business plan, according to Cheeseman.
“At the time we commenced the development, straight-though processing across all elements of the policy life cycle was an alien concept in relation to commercial insurance products in the UK,” he says. “[Arista’s] business plans were predicated on achieving operating ratios below the market norm and would only be possible if we could deliver full cycle online facilities.”