VIPR Solutions has secured multi-year contracts with three insurance brands operating within the UK Lloyd’s Market.
It was stated in a Press release that the three signings are ‘leaders within the market’ and represent billions in GWP annually. It was noted that VIPR handles about £10 billion of delegated authority premiums for the Lloyd’s market, but it was not specified which companies had been brought onboard.
Financial terms of the contracts were also not disclosed.
Under the contracts, the customers will implement VIPR’s technology platforms, including VIPR Intrali, Insights, Portal, Interga and Data Cloud. These platforms are designed to automate bordereaux management, which will help reduce manual effort, while improving accuracy. They also enable improved reporting, it was stated.
VIPR said these new agreements strengthen its position within the world’s most significant insurance hub.
“The Lloyd’s Market sets global standards for the specialty insurance sector, and we are honoured to work alongside such prestigious brands that are driving its continued success,” said Paul Templar (pictured), co-founder and chief executive of VIPR. “These partnerships reflect the trust in technology to streamline data processes, enhance efficiency, and deliver actionable insights.”
The company said that the UK Lloyd’s Market serves as a global benchmark for excellence in delegated authority operations and data management.
“VIPR’s continued success within the Lloyd’s Market highlights the growing acceptance and adoption of advanced technology solutions to modernise and improve Delegated Authority data management,” Templar commented.
VIPR Solutions is a provider of delegated authority bordereaux management and data analytics solutions for the global insurance market.
Last year, the company hired Latha Horne as its IT operations manager. With her more than 20 years of experience, Horne was entrusted with ensuring that the company’s systems are functioning efficiently.
