Special Ep Paul Templar and Sebastian Prosser of VIPR: Stop throwing people at the problem
Today’s guests are Paul Templar CEO and Sebastian Prosser, Head of Account Management at insurance technology solutions specialist VIPR.
VIPR started out in the London Market 14 years ago. From day one its core offering was to provide a software solution to the endless administrative problem of the ingestion and checking of data in the Delegated Authority (DA) space.
With around 40% of the business at Lloyd’s transacted this way, it started life in a very fertile environment that was drowning in a mass of spreadsheets, emails and stray documents.
Today it has grown enormously to be the largest player in this segment with over 400,000 bordereaux processed annually relating to around £5 billion of gross premium.
This business is at the real coal face of digitisation in our industry and its development is following a ruthless logic: If you can ingest, verify and cleanse insurance data on a large scale, the next step is to start to analyse that data and gain genuine insights into the business you are writing.
And once you can do all this you can also speed up the process of onboarding new partners from a compliance perspective.
My chat with Paul and Seb comes as VIPR is making large strides internationally into the US and European markets on the back of significant new blue-chip investment.
With digital initiatives gaining traction and prominence all over the insurance world it’s an exciting time for the market and for VIPR.
Here we talk about the prospects for a far more efficient, digital and data-driven marketplace, the world of insurance software ecosystems and the exciting expansion opportunities opening up for VIPR and its clients.
Paul and Seb are great company and I recommend this episode to anyone looking to learn how to climb the first rung of the digital ladder.
NOTES
Naturally we mention DA a lot. That’s the abbreviation for Delegated Authority.
There is also TPA, which stands for Third Party Administrator (usually for claims).
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