In this episode, we are thrilled to be speaking with Paul Templar, co-founder and CEO of VIPR Solutions.
Paul offers his assessment of the technology landscape within insurance, asserting that while there is a generalised desire across insurers, brokers, MGAs and claims TPAs to embrace technology, there is a significant gap between the pioneers in this effort and those lagging behind, either due to issues with cost or ability.
However, he notes that this tech will soon become within reach of the smaller...
In this episode, we are thrilled to be speaking with Paul Templar, co-founder and CEO of VIPR Solutions.
Paul offers his assessment of the technology landscape within insurance, asserting that while there is a generalised desire across insurers, brokers, MGAs and claims TPAs to embrace technology, there is a significant gap between the pioneers in this effort and those lagging behind, either due to issues with cost or ability.
However, he notes that this tech will soon become within reach of the smaller organisations seeking to digitise. Paul asserts that while many processes will become accelerated by a transition to digital transactions, there will remain a need for human experts overseeing this for quite some time. Furthermore, he demystifies certain preconceptions about the functionality and efficacy of AI, arguing that it is an incredibly powerful tool which can enhance our business tremendously, particularly with regards to the use of data. For Paul, a successful implementation of Blueprint Two is crucial as Lloyds faces increasing pressure to avoid being eclipsed by international market competitors. However, he remains cautiously optimistic that we will soon achieve a digital marketplace, with straightforward claims processing enhanced by AI to automate many of the mundane tasks that currently afflict the efficiency of the customer journey.
Quote:
“I think there is now a genuine desire to embrace technology and IT within all of those organisations. There is absolutely a difference between the very best and those that need improving within the market in terms of the technology that's being used.”
“We're finding that the MGAs, are incredibly entrepreneurial, they're very focused on finding ways that they can grow their businesses and improve their operations, find efficiencies in what they're doing, and ultimately give that better experience for their customers. We're certainly seeing the use of things like the quote and buy platforms, and I think generally, there is that desire to find ways to do the job better.”
Resources:
MGAA - https://www.mgaa.co.uk/
VIPR Solutions: https://viprsolutions.com/
About the Guest:
Paul Templar is the Co-Founder and CEO of VIPR Solutions, which provides software for the insurance market with a focus on delegated authority.
Before his current position, Paul held the position of CTO for 11 years and played a significant part in the design and development of VIPR's technology solutions, including data and bordereaux management, coverholder and binder management, and analytical reporting capabilities.
Paul’s LinkedIn Profile: https://www.linkedin.com/in/paultemplar/
About the Host:
Mike's extensive expertise in the insurance sector has allowed him to witness and adapt to the dynamic shifts within the industry. Throughout his 40 year career, he has navigated the traditional realms of insurers, brokers, and MGAs (Managing General Agents) across both Commercial and Personal Lines markets.
He has held Executive positions at AXA, Midas, UK General and most recently Insurtech start up Qlaims before becoming Chief Executive Officer at the MGAA in September 2020.
Mike is excited about the new MGAA podcast series, which aims to showcase key figures in the UK insurance industry and beyond, providing insight into the challenges and opportunities that the MGA industry encounters.
