Deals: VIPR Signs Up New US Client

A major US property/casualty insurer, with almost $300 billion GWP, has selected products provided by VIPR Solutions (VIPR) to manage its extensive program business portfolio. Here’s the word;

This leading carrier is the fifth North American client acquired by VIPR since it expanded across the Atlantic in recent years. Other North American clients include a start-up fronting company, a new reinsurer, and the entire Canadian operation of a major international insurer.
Under this latest initiative, the US insurer is using three VIPR services to manage and analyse data gathered from numerous managing general agencies and underwriters (MGAs/MGUs) with delegated underwriting authority for program business.

These three services include:

● VIPR Intrali, a bordereau management solution that imports, validates, and converts data from multiple formats into a user-defined template developed through an intuitive user interface.
● VIPR Insights, a data analysis application that provides key performance indicators for monitoring and measuring risk selection, premium, and claims development as well as operational efficiency. Users can
monitor key metrics through multiple filters and at differing levels of granularity.
● VIPR Data Cloud, a secure repository for storing and sharing all data processed through VIPR platforms, eliminating the need for unsecured data transfer methods and ensuring that all parties have a common and consistent view of risk, premium, and claims data.

“This company originally went looking for a bordereau management and processing platform,” says VIPR’s CEO Paul Templar. “As our conversations progressed, we determined that VIPR could offer that and a whole lot more, especially with regards to analytics.

“On behalf of this client, we are now working with several MGA system vendors to create a multi-level integration function to allow complete end-to-end automated processing, he continued. “In addition to integrating data from bordereaux, this project will also implement real-time downstream data exchange through API flows. “All told, underwriters will be able to manage pricing and risk selection with greater precision.”