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."
About Insurity
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