VIPR delivers a modern, comprehensive suite of dedicated software solutions that provides end-to-end management for the insurance market.
VIPR’s systems can cleanse and standardize data, making analysis easier, which enables more substantial reporting to be produced and helps the insurance industry to overcome the challenge of multiple data collection methods. In order for them to make data-driven decisions, there has to be an introspective process to create refined data that can be analyzed to produce useful insights.
“Our products enable data to be captured in various file formats,” states Brown. “When the dataset is imported into a VIPR tool it is mapped to create the standard format which can then be checked against the contract terms to ensure there are no breaches. As a configurable system, the client can set specific validation checkpoints that are relevant to their individual business. After the data has been cleaned, it is put into the standard format and checked against previous entries to ensure that aggregates have not been exceeded. At that point, a list of errors is generated for the end user to manage before final processing,” Brown explains. “When the errors are corrected or overridden, the data is moved to the data warehouse in a standard validated format so that reports can be generated.”
Our latest product enables group life insurers to manage and standardize census and broker data to produce quotes quickly and easily
With a clientele that includes managing agents, managing general agents, brokers, and insurance companies, VIPR has many client success stories illustrating the approach it takes with clients in the insurance industry. One particular client, MGAM, a relatively new Managing General Agent (MGA), needed affordable IT solutions to hit the ground running. VIPR was able to deliver a core systems package comprising bordereaux, data and coverholder management, as well as a reporting tool. On top of this, VIPR created a completely bespoke IBA platform that would allow MGAM to allocate payments and distribute commission splits with its clients. “We now have the infrastructure in place to sustain in the MGA sector, enabling us to add value to carriers and our clients by disrupting the market and finding untapped distribution channels,” states Jason Anthony, CEO of MGAM. “Our focus is on delivering exceptional service to our clients, and with VIPR we have the IT solutions to help us do just that.”
As technology and the insurance industry landscape changes, VIPR continues to invest in its products to evolve and adapt to current market circumstances and future challenges. The company also has an initiative to broaden its product offering to gain traction in the U.S. market. “Our latest product is designed to assist group life insurers deal with census and broker data, enabling them to efficiently standardize that data in order to provide quotes quickly and easily,” concludes Brown.