VIPR and ACORD partner on breakthrough in processing of bordereaux reports
VIPR, a provider of software solutions for the insurance industry, has partnered with ACORD Solutions Group to launch an automated ‘US to London’ data exchange between global MGA’s and London carriers, which enables straight-through processing of bordereaux reports.
The companies said this has been achieved by integrating the capabilities of VIPR’s bordereaux management solution Intrali and ASG DeleGate.
The new offering is already live with Miller Insurance Services and CNA Hardy.
Despite modernisation across the industry and increasing automation, until now, there has been no major advances in straight-through bordereaux processing between the US and London markets.
“We have been processing bordereaux reports for many years now and have a great understanding of what our customers are looking for,” said Bob Brown, CEO at VIPR. “By providing XML formats through ASG DeleGate, bordereaux data is captured and processed quickly in a defined, consistent layout. This initiative is a major step forward for the market and we are thrilled to partner with ASG to deliver this solution to the industry.”
Pete Teresi, CEO at ACORD Solutions Group, added: “We are delighted to be working with VIPR as our first partner in this exciting new venture. The delegated authority process represents billions of dollars globally for the entire industry. As an industry-owned solutions provider, we’re committed to working with our partners and all of ACORD’s members to create Standards and resources that industry stakeholders can leverage, enabling everyone to drive adoption, improve their business, and move the global industry forward.”
