CORE INSURANCE, INSURANCE TECHNOLOGY
Businesswire | May 16, 2023
Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, announced it has partnered with VIPR Solutions with a focus on the London market and the U.S. domestic P&C market to improve program business efficiencies and remove the need to produce traditional bordereaux. Integrating Insurity and VIPR platforms will enable real-time data exchange for insurers, reinsurers, and brokers – globally, allowing them to make faster, more informed decisions that lead to better underwriting outcomes.
VIPR Solutions, founded in 2009 and headquartered in London, UK, is an award-winning technology company providing global insurance solutions to the program business sector. VIPR has a large portfolio of clients, processing in excess of 400,000 bordereaux per year while servicing over 40% of Lloyd's managing general agents and non-Lloyd’s customers across 7 global markets. Driven by an expanding client portfolio of carriers, brokers, MGAs, and TPAs, its combined product offering improves the management of underwriting portfolios. With state-of-the-art data analytic capabilities, VIPR’s platforms are designed to drive operational efficiencies, and addresses the ever-growing compliance and regulatory burdens global insurance brands face day by day.
Insurity and VIPR are committed to working closely with program writers to remove unnecessary barriers and drive efficient bordereau processing. Program underwriting and operations teams can analyze real-time performance to make informed decisions using secure data methods while ensuring a common and consistent view of risk, premium, and claims data. This will help simplify the distribution chain, something that has long been an ambition of the London market and beyond.
"We are thrilled to partner with Insurity and provide their customers with faster, automated data management," said Paul Templar, Founder and Chief Executive Officer at VIPR. "This collaboration reinforces our commitment to offering innovative solutions that enable our clients to manage and streamline their operations more efficiently. By integrating Insurity platforms with VIPR's digital ecosystem, we are paving the way for faster and more efficient data exchange with the end goal of empowering insurers, reinsurers, MGAs and brokers with operational excellence."
"VIPR has a proven, tried-and-tested model and is well respected within the program business industry. This partnership revolutionizes the way insurers overcome their program business challenges," said Sylvester Mathis, Chief Insurance Officer at Insurity. "Insurers will be able to capture data at source and reduce manual tasks on an end-to-end platform while maintaining the highest levels of security."
Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 22 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and the industry's most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. For more information, visit www.insurity.com.
About VIPR Solutions
Founded in 2009, VIPR Solutions is a leading insurance technology company that supports automation of back-office processes, particularly for program business and delegated underwriting authorities. VIPR platforms streamline bordereaux management and processing and coverholder management, as well as regulatory compliance, and provide users with powerful data insights capabilities for strategic analysis.
VIPR (pronounced "VY-per") was the first company of its kind to be approved by Lloyd’s London Market for direct reporting. Today, over 40% of Lloyd's syndicates use a VIPR product, as well as some of the world's best-known carriers and intermediaries in Europe and North America. Among VIPR's clients are a leading Swiss insurer, a top 10 US carrier, and the Canadian operations of two major international insurers, along with several smaller and startup Managing General Agents and Brokers. For more information, visit www.viprsolutions.com
CORE INSURANCE, INSURANCE TECHNOLOGY
Globenewswire | May 22, 2023
Applied Systems® today announced that VP Custom Insurance Solutions has selected Applied Digital Agency to digitally transform their business and customer service models. The agency will leverage Applied Digital Agency to connect the digital roundtrip of insurance and automate day to day operations to increase staff productivity and enable their ambitious growth agenda beyond California.
“As a woman-owned business in a male-dominated field, we’re excited to make a name for ourselves with our forward-thinking approach,” said Ashlynne Vega, Co-Owner, VP Custom Insurance Solutions. “The insurance industry continues to become more tech-focused, so agencies need to keep up or risk getting left behind. Partnering with Applied will elevate our agency and help us stay ahead of the curve.”
Applied’s Digital Agency solution consists of a foundational management system, online customer self-service and mobile technology, commercial lines application digitization and automation, and insurer connectivity, all hosted in the cloud. The fully integrated solution enables agencies to create higher-value business transactions and deliver superior customer experiences throughout the entire insurance lifecycle. By leveraging integrated applications that enable agencies to manage their entire business and eliminate duplicative work typically caused by multiple, disparate systems, digital agencies operate more efficiently, improve customer service, and accelerate growth and profitability across all lines of business.
“Growth-minded agencies are smartly turning to technology more and more to modernize their sales and marketing efforts while automating low value tasks,” said Anupam Gupta, Chief Product Officer, Applied Systems. “Applied’s Digital Agency software will enable VP Custom Insurance Solutions to simply their staff’s daily tasks and make the customer lifecycle – from prospecting to quote, bind, service, and renewals – more modern at each touchpoint.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.
CORE INSURANCE, INSURANCE TECHNOLOGY
Businesswire | March 17, 2023
Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Larry Fu Insurance Agency, Inc. The addition of Larry Fu Insurance Agency to the Inszone Insurance team is a strategic move that brings together two trusted insurance providers with a shared commitment to exceptional customer service.
Founded in 1979, Larry Fu Insurance Agency has built a strong reputation as a family-owned and operated business, providing exceptional service to its clients for over 40 years. Larry and Shirley Fu started their business from the ground up, and their dedication and hard work have earned them a loyal clientele from all over the Bay Area and Southern California.
"Larry Fu Insurance Agency has a long-standing reputation for exceptional customer service and market expertise, making them a perfect fit for Inszone Insurance," said Chris Walters, CEO of Inszone Insurance Services. "Their values align with ours, and we are excited to welcome the Larry Fu Insurance team to the Inszone Insurance family."
As part of the acquisition, clients of Larry Fu Insurance Agency can expect to receive the same exceptional service and care they have come to expect from Larry Fu Insurance Agency, now under the Inszone Insurance brand. This acquisition is just one of many that Inszone Insurance Services plans to make as it continues to expand its national footprint and serve clients with exceptional insurance placement capabilities and personalized service.
About Inszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 40 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.