VIPR Solutions: Helping Brokers Get to Grips with Data

Bob Brown, CEO, VIPR SolutionsBob Brown, CEO
Nearly ten years ago, Bob Brown and his brother Richard noticed that the insurance market was in a substantial need of technology that would help them understand and interpret huge swathes of data as well as mitigate increasing regulatory pressures. A vast quantity of data was coming into the market in a disorganized and non-standard format, making it difficult for insurers to manage and understand businesses and where the risks lay. To help insurers change the way they were transacting business and enable them to manage data quickly and easily, the entrepreneurs founded VIPR Solutions with the aim of delivering a state-of-the-art portfolio of dedicated software solutions. “We took the opportunity to respond to industry needs and the needs of our clients by developing advanced IT solutions,” explains Bob Brown, CEO at VIPR. It is VIPR’s clients: Insurance Companies, Managing Agents, Managing General Agents, and Brokers that are the driving force behind VIPR’s innovations. The company develops customized solutions to assist brokers in enhancing their processes, which in turn helps enhance customer loyalty and foster long-term relationships. “What sets us apart from our competitors is a combination of our connections, talent, customer relationships, and products that work,” says Brown.

VIPR’s product portfolio consists of five solutions: Active Underwriter, Intrali, Intarga, Active Reports and Insurance Broking Accounts (IBA), all of which enable the user to capture and manage data effectively and address the regulatory burdens of the insurance industry. Active Underwriter is a Quote and Bind solution that accommodates end-to-end transactions of Insurance business. Intrali is VIPR’s flagship broker management solution that allows brokers to standardize, check, and validate data against Binder terms in addition to importing and converting information to a format of their choice. Working alongside Intrali is Active Reports, providing enhanced reports specific to the clients’ needs. Intarga is an online workflow management and CRM system that manages the workflows and processes of Coverholder approval, due diligence, and monitoring as well as audit management and Binding Authority management.

Intrali allows brokers to standardize, check, and validate data against Binder terms and facilitate comprehensive dashboard reporting through Active Reports

Additionally, VIPR recently introduced its IBA software, designed to manage distribution costs amongst stakeholders through hyper-efficient data collection and reporting. On top of VIPR’s software offering is VIPR Managed Service (VMS) in conjunction with JDX Consulting, a global consulting group. VMS provides end-to-end management of bordereaux and reporting requirements that alleviates internal IT and business pressures, allowing organizations to focus on other key areas of their business. “All of our solutions give Brokers an edge in terms of understanding their business, and in creating operational efficiencies and value for customers— ultimately driving profitability,” adds Brown.

Validating VIPR’s next-generation solutions, Brown cites an instance of how Intrali and Active Reports helped Meridian’s Producing Brokers’ to manage their Binder portfolio and optimize the data they were collecting. “In February this year, Meridian approached us looking for an IT partner who could help them get to grips with data and deliver an efficient service to their clients,” adds Brown. “Already, the results from implementing VIPR’s Intrali, have been really impressive and have proven to be a benefit to the Coverholder, MRSL and the Managing Agent,” said Paula Duplock, Director of Compliance, Business Operations and Binder Management at Meridian. “Active Reports has also proven invaluable to Meridian since installation. This new and improved analysis provides granular information to support our internal visions and potentially for our Coverholders and Managing Agents.”

VIPR’s latest development was a collaboration with ACORD Solutions Group to launch the first straight-through processing of data between the U.S. and London markets. “We see this as a major step forward for the Insurance market on a global scale that will hugely benefit the delegated underwriting sector,” asserts Brown. Moving forward, VIPR will continue to grow the company and respond to challenges faced in the industry.