Re/insurance outsourcing and consulting specialist Pro Global Holding Limited has partnered with delegated authority expert VIPR to develop a solution for bordereaux and coverholder management.
The joint-offering will combine VIPR’s Intrali bordereaux management tool with Pro’s Exposure Management Facility (CAI) to help managing agents handle these specialist areas.
Intrali will be used to standardise and validate property data, which will then pass to CAI for additional processing to geo-code and confirm occupancy, construction descriptions and address information.
The data can then be used by a range of CAT modelling tools, allowing managing agents to use a consistent end-to-end process.
“While we are still at a very early stage of this venture, we have already had interest from the market,” said 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,” Templar continued. “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 also commented, “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,” Everson added.
“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.”
