During 2018 Channel had created a new vision for effective bordereaux management and adjusted its model for data receipt, quality, reporting and analytics.
Prior to this Channel had only been partially successful in establishing good functional portfolio management and reporting. Its aim was to provide the business with improved management of regulatory reporting and in parallel drive up its detailed.
Intrali Proof of Concept:
During 2018, Channel reviewed the available vendor options and following feedback from other market practitioners, took the decision to undertake an Intrali Proof of Concept [PoC].
The PoC, supported by VIPR’s Active Reports, involved the processing and reporting of a defined set of bordereaux relevant to Product Oversight reporting, required by the Channel Executive and Regulators. Working closely with VIPR, Channel developed the necessary reports. The exercise proved successful, providing granular oversight and analysis of the relevant high product risk accounts, satisfying both Channel Management and Board demands for superior regulatory reporting.
The success of the PoC led to a full contractual commitment from Channel in November 2018. Since then, Channel has migrated all its bordereaux management and reporting operations onto the Intrali platform.
Intrali and associated Active Reports capability allows for the capture, processing and management of bordereaux data, with an output available in a consistent and reliable format. Having achieved greater transparency of Channel’s binding authority data, this has allowed for more effective analysis and presentation of policy level information to the wider Channel business and supports deep understanding of bordereaux management reporting and analytics for both premium and claims.
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VIPR’s products have permitted great oversight of the Channel bordereaux management function in a cost effective and efficient manner. We are looking forward to developing the platform, to further increase our analytical capabilities and deeper knowledge of our customers and portfolios.
SCOR Channel find VIPR Intrali a very useful tool which is adding significant value to both our regulatory reporting and analytical requirements. I am hoping that we will continue to have a long and mutually beneficial partnership