Pro and VIPR partner on bordereaux and coverholder management initiative
Re/insurance outsourcing and consulting specialist Pro Global Holding (Pro) is partnering with delegated authority specialist VIPR to deliver a solution to complex areas faced by managing agents in the areas of bordereaux and coverholder management.
The new joint offering combines VIPR’s Intrali bordereaux management tool with Pro’s Exposure Management Facility (CAI). When Intrali is used to ingest, transform, standardise and validate property data, the output will seamlessly pass to CAI where additional processing takes place to geo-code, standardise and confirm occupancy, construction descriptions and address information. The data can then be used by a range of CAT modelling tools. The aim is to enable managing agents to use a consistent and robust end-to-end process that will produce results faster.
“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.”
Pro chief operating officer Chris Everson added: “We’re very excited by the potential that this partnership with VIPR represents. As the insurance market modernises 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.
"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. 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.”
