Pro Global Holding Ltd., global re/insurance outsourcing and consulting specialists have formed a partnership with VIPR, a software provider that focuses on delegated authorities. This move will see the two combine their expertise in the areas of bordereaux and coverholder management to deliver a solution to the complex areas faced by managing agents.
The new four-year partnership combines VIPR’s Intrali bordereaux management tool with Pro’s Exposure Management Facility, which is called CAI. When Intrali is used to ingest, transform, standardize and validate property data, the output will seamlessly pass to CAI where additional processing takes place to geo-code, standardize and confirm occupancy, construction descriptions and address information.
The data can then be used by a range of catastrophe modeling tools, which allows managing agents to use a consistent and robust end-to-end process that will produce results, faster and easier, said the companies in a statement.
“While we are still at a very early stage of this venture, we have already had interest from the market,” states Paul Templar, CEO at VIPR. “This comes as no surprise during a time of increased regulatory and compliance pressures where technological advancements are becoming a must-have in order to comply and to help the industry to gain competitive advantage. The collaboration allows both Pro and VIPR to provide a strong and innovative solution that will solve the problems experienced by many managing agents.”
“We’re very excited by the potential that this partnership with VIPR represents. As the insurance market modernizes and looks for ways to reduce costs there is a demand from clients for vendors to offer innovative new solutions that robustly and efficiently address the complex challenges they face,” said Pro Chief Operating Officer Chris Everson.
“Linking VIPR’s technology with our innovative exposure data cleansing platform CAI will make it much easier for cleansed accurate data to flow electronically between systems,” Everson continued. “Digital transformation in the underwriting process offers real and tangible advantages for reducing costs and increasing efficiency for managing agents. We look forward to working together with the expert team at VIPR to deliver for the industry.”
About VIPR
London-based VIPR is a software provider for the insurance market, specializing in solutions that focus on delegated authorities. VIPR’s suite of products focus on data and include Intrali for bordereaux management, Active Reports for presenting and analyzing data and Intarga for delegated authority entity management.
About Pro
Pro is an international consultancy and service provider that focuses on delivering flexible outsourcing solutions for live and run-off business, operational consultancy and audit services for the insurance industry. Founded in 1993 and headquartered in London, Pro has some 160 clients spanning the global insurance market, including insurers, reinsurers, brokers, lawyers and corporate investors.
Source: Pro Global and VIPR
Topics Mergers & Acquisitions Agencies Insurance Wholesale Market Human Resources
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