If one were to compile a short list of top leaders in US insurance program business, Eric Hall would certainly be on it, near the top.

Eric has been immersed in program business since participating in the development of a highly successful program covering houses of worship back in the 1980s. Since then, he has been at the intersection of carriers, intermediaries, and retail agents during nearly 25 years as a senior executive for The Rough Notes Co.

In addition to providing educational resources to independent agents and brokers, Rough Notes is an authoritative source of information on excess, surplus, and specialty product lines and the specialised services needed to support them.

Currently president of strategic partnerships for Rough Notes, Eric spent most of his years with the company as executive vice president for business development, strategic planning, and brand management. In that role, he was central to Rough Notes’ sponsorship of and support for the Target Markets Program Administrators’ Association (TMPAA), the principal trade group and forum for developing insurance program business and promoting best practices in the field.

“What program management entails today is far different from what it entailed when I started in it more than 30 years ago,” Eric says. “Among other things, the percentage of every dollar shared between a program provider (the carrier) and the program administrator has shifted toward the administrator.

“That’s because program managers are now doing much more frontline underwriting and preventative risk management,” he adds. “They’re taking on roles that are closer to the customer.”

Addressing data lag

To fulfill their expanding roles, Hall says program managers “need the ability to get into the program data and work with it to provide a clear line of sight” toward program objectives.

Hall, like others, sees the lag between executing transactions and reporting data on those transactions as the principal hurdle to achieving what carriers, intermediaries, and retail producers seek to achieve when they launch a program.

“With all the spreadsheets created to report bordereaux data,” he says, “many people are charged with an unending task of simply collecting and arranging data before they can even review it.

“Program administrators must be able to discern much more quickly what a book of business is actually comprised of and compare that with the intentions and risk appetites the parties had when they created a niche program.

“As books of business age, we often find that there are all sorts of additional exposures - types of risks and amounts of coverage - that were never intended but have found their way into a book.”

The result is typically a deterioration of loss experience, which is bad enough on its own but even worse in today’s tightening market for reinsurance support. “Programs are struggling desperately to find capacity,” Eric says. “Having good data is essential to finding and developing the capacity required to support programs.”

VIPR’s experience

No one has been automating program business back-office function in the way that VIPR Solutions (VIPR) has done for as long as they have. Eric Hall came to know VIPR when the global tech firm joined as members of the Target Markets Program Administration Association (TMPAA) and actively participated at their Annual Conference in 2022. Eric finds VIPR’s platforms for gathering, formatting, reporting, and analysing insurance data to be a cut above those offered by its competitors.

“What’s particularly attractive about VIPR is that it has been around for +14 years,” he says. “There’s a wealth of experience there you don’t find elsewhere.

“VIPR doesn’t just eliminate pain points for program partners,” he adds. “There’s cost reduction that comes with their service.

“The way VIPR staff interacts with its clients is extremely remarkable and unique in this day and age,” he concludes. “Their specialists get into the weeds. They dig deeply into your problems.”

VIPR's longevity and proven track record in the global insurance industry set them apart. Their commitment to not only resolving challenges but also reducing costs for their clients makes them an invaluable partner. The hands-on, personalised approach of VIPR's specialists demonstrates a genuine understanding of each client's unique needs, ensuring a tailored and effective solution. It's clear that VIPR's expertise and dedication to excellence are the key factors behind their continued success and recognition, as seen in their recent nomination for Technology Partner of the Year in the Axco Insurance Information Global Insurance Awards.

It’s inspiring to witness VIPR's remarkable growth and expanding market share in North America and beyond. I’ve been in this industry for many year and I cannot help but feel invigorated by the unparalleled potential and impact of their cutting-edge technology. Time and time again, VIPR has proven its ability to empower clients with their sophisticated bordereaux management solution and in recent years their extensive analytic capabilities by harnessing the transformative power of conformed data. By leveraging this innovative tech, carriers, brokers and MGA’s are able to unlock new opportunities, streamline processes, and make more informed decisions. As VIPR continues to redefine the market landscape, we can anticipate a future where data-driven insights and automated solutions are the norm, ultimately shaping a more intelligent and prosperous global economy.