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).
LINKS https://viprsolutions.com/