Lloyd’s Syndicate Teams Up With VIPR on Risk Data

Hampden Risk Partners (“HRP”), Lloyd’s syndicate 2689, has contracted with the global insurance technology company VIPR Solutions (“VIPR”) to manage risk data from approximately 2,000 bordereaux received from up to 50 different delegated underwriting entities.

HRP is an approved and regulated Lloyd’s syndicate acting as an intelligent follow consortia and quota-share partner to top performing Lloyd’s syndicates; allowing them to underwrite more business and provide capital backers access to syndicate participations not otherwise available third-party capital. HRP is backed predominantly by capital from Hampden Agencies, the largest members’ agent in Lloyd’s market.

Hampden Agencies is a Lloyd’s Members’ Agent and adviser which represents and advises more than 1,000 clients on their underwriting affairs at Lloyd’s. It is the largest provider of private capital to Lloyd’s. With more than £2bn of advised private capacity in 2021, as well as providing administrative services to corporate investors who supplied a further £2bn, the resulting total Lloyd’s market involvement for Hampden Agencies’ clients is some £4bn of capacity. This represents more than 10% of the Lloyd’s market as a whole.

VIPR (pronounced VY-per) is a pioneering software provider in the insurance industry and has been delivering cutting-edge platforms for automating back-office processes and regulatory compliance since 2009. The company specialises in solutions for bordereau management, coverholder management, and data analytics.

HRP has contracted VIPR to implement a customised “business process as a service” (BPaaS) by implementing VIPR Managed Services and utilising several VIPR applications, in turn demonstrating the need for a seamless end-to-end automation solution.

Ben Ormerod, chief data officer at HRP, said: “We are delighted to select VIPR as our solution provider of choice in the management of delegated data for Syndicate 2689. VIPR’s automated smart technology will enable us to streamline our data management processes, increasing efficiency and reducing the risk of errors. At Hampden Risk Partners, we are committed to delivering exceptional service to our clients. Working with VIPR will allow us to further enhance our capabilities.”

David Sweet, chief commercial officer at VIPR, added: “Our intuitive mapping interface significantly reduces the time spent validating large volumes of risk, premium, and claims data. Our data analytics platform, VIPR Insights, will enable HRP to better understand the performance of their portfolio and help support future underwriting decisions.”


About alastair walker 12131 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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