VIPR Solutions, a technology company supporting insurance operations, has been selected by a leading swiss insurer to integrate program business data into SAP platforms.
The Swiss company currently writes approximately $4.5bn in non-life premium in six major European countries and is expanding into program business written through managing general agents and underwriters (MGAs/MGUs) in the United Kingdom and United States.
VIPR aims to deliver a modern, comprehensive suite of dedicated software solutions – providing end-to-end management for the insurance market.
The company’s IT solutions are sophisticated but easy to use, designed to “make the complicated simple.”
VIPR is present in four continents and 40% of Lloyd’s Managing Agents use a VIPR product.
This expansion with the Swiss insurer prompted a broad overhaul of operations, with VIPR applications being utilised for their compatibility with SAP-based architecture.
Before undertaking the overhaul, the Swiss carrier was manually processing third-party bordereaux data related to more than 1.3 million customers.
To eliminate this drain on resources, they entered a multi-year commitment to use four VIPR services.
One of these servuces include VIPR Portal, a digital gateway that allows cover holders and program administrators to upload bordereaux information directly or via a secure API gateway.
David Sweet, chief commercial officer at VIPR, said, “An important part of VIPR’s appeal to this company was our ability and commitment to integrate with the SAP-based reinsurance and GL platforms. Our capabilities can deliver the underwriting and financial data to support those business processes.”
“This is part of an operational transformation that structures an end-to-end data journey from the collection of data through analysis and reporting. VIPR technology is critical to the functioning of this entire program.”
TONI Digital, a Switzerland-based InsurTech startup, raised $12.5m in a Series B funding round.
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