What could possibly be the main challenge facing a leading international insurer with nearly 250 branches in 38 countries?
Finding a comprehensive software solution that would support the launch of a new Toronto-based Canadian operation. VIPR’s new customer was looking to streamline their back-office processes and enhance their regulatory compliance efforts - they found that and a whole lot more!
VIPR's suite of services, including VIPR Portal, VIPR Intrali, VIPR Insights, VIPR Data Cloud, and VIPR Hosting enabled improved operational efficiency, enhanced risk management, and streamlined compliance within delegated underwriting authority.
In today’s global insurance environment, it’s critical for carriers to leverage advanced software platforms to stay competitive. The leading international insurer sought to establish a new branch in Canada and after an intense review of several vendors in the market, the insurer chose VIPR Solutions, based on their long-standing history and proven track record of providing innovative software platforms, automating insurance back-office processes, such as bordereaux management and processing and cover holder management, as well as ensuring regulatory compliance. VIPR being already well established in the North American market was therefore a front runner for consideration.
With the goal to automate as much of their end-to-end data process, the Canadian organisation choose VIPR Portal, a digital gateway enabling cover holders and third-party administrators to upload data directly to the VIPR platform or integrate with the platform via an API gateway. They were also seeking a first-class bordereau management system, immediately identifying VIPR’s flagship platform, Intrali, already utilised by 100% of VIPR’s customer base.
They also had an immediate need to analyse their valuable program data, with VIPR Insights Analytical platform, it has provided their key performance indicators for monitoring and measuring risk selection, premium, and claims development, as well as operational efficiency. In addition to the already mentioned, a secure repository for storing and sharing data was required, therefore the perfect fit was found with VIPR Data Cloud. The Toronto based client will leverage VIPR’s hosting service offering to ensure a speedy and seamless IT solution.
The customer stated, “With VIPR's robust and proven solutions, we are now well-positioned for success in the Canadian market and prepared to face the challenges that lie ahead.”
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