It’s a classic dilemma: Start-up enterprises need advanced technological capabilities to compete against established players, but they don’t yet have the business volume to support investment in comprehensive enterprise systems.
In just such a situation, a newly formed US reinsurer, determined not to be burdened by day-to-day processing of program data, turned to VIPR Managed Services. This service offering allows VIPR clients to access VIPR resources, provided through VIPR technical specialists. The process is also designed to allow users to integrate VIPR platforms incrementally as their volume of business grows.
In this case, bordereaux information is uploaded into VIPR’s Portal, a digital gateway that allows cover holders and third-party administrators to upload the data directly to the VIPR platform or to integrate with that platform via an API gateway. VIPR’s Intrali processing engine cleanses and formats the data, which the reinsurer can access through VIPR’s Data Cloud and Insights analytical function.
In all this, the reinsurer is assisted by VIPR’s partner, Pro Global, global re/insurance data specialists, all trained to manage all aspects of bordereaux processing, from program design and implementation to data uploads, data retrieval, map creation, quality control, and error diagnosis.
“VIPR’s Managed Service takes on the day-to-day operational tasks of program business administration, so carriers and intermediaries can devote their time to market and risk analysis,” says Sebastian Prosser, Head of Account Management at VIPR.
“Having a dedicated onboarding process is key to ensuring that a new client is aware of all the technological capabilities,” he adds. “The combined expertise of VIPR project managers, developers, and business analysts, coordinated by our dedicated Account Management Service, ensures that each client receives guidance on using our technology to the fullest capability for their needs.”
VIPR expert team members, each of them rigorously trained in insurance operations, have been instrumental in designing and maintaining this program. A true testament to VIPR’s commitment to insurance knowledge, the reinsurer has chosen to have VIPR employees train its own staff in key aspects of insurance operations.
“VIPR’s Managed Service takes on the day-to-day operational tasks of program business administration, so carriers and intermediaries can devote their time to market and risk analysis.”
Sebastian Prosser
Head of Account Management, VIPR Solutions.