Paul Templar: CEO, VIPR: Data - seen it, clean it, sort it (180)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 6 March 2022

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Data has never been so important or abundant in insurance but finding the right information is still a major challenge for insurers. That has led to opportunities for companies like VIPR, which is providing extraction and ingestion solutions to help standardise data from third parties and creating analytics to improve underwriting accuracy. CEO Paul Templar joins Matthew on Podcast 180 to discuss how brokers and insurers are using VIPR’s data and analytics platform to manage data, getting information flowing efficiently across the market, and how VIPR is looking to scale with the help of private equity. Talking points include: Improving communication between insurers, brokers and clients Using the cloud to improve data access and processing efficiency Producing new underwriting insights through improved processing APIs, portals and making technology work Working with clients to drive product direction VIPR was featured in the InsTech London report, Data Extraction and Ingestion: The 40 companies to watch in 2021, which is available as a free download. You can also get more information on the InsTech member profile page for VIPR. If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. The Learning Objectives for this podcast are: Summarise the challenges for insurers in collecting relevant information and how these contribute to inefficient underwriting List the benefits data and analytics platforms have on improving processing efficiency Identify the role of clients in helping insurers to direct and implement new products If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 180 page of the InsTech London website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Hello, Matthew Grant here. Welcome back, or if it's your first time, well, I am delighted you have discovered us. Now, seven years ago, that's in the early days of
0:21.3	InsureTech, a lot of the talk was about data and how access to so much new information was
0:26.8	going to radically change the world of insurance. Apparently, more data was created in the last
0:31.6	two years than all of previous history. Well, how often have you heard that phrase? Now, it may or may not
0:36.5	be true, but one thing is for sure, when there's a lot of anything around, it generally gets messy
0:41.1	and it gets hard to find what you want, and I'm sure most of us can relate to that.
0:46.0	Fortunately, this love of data and some of the inherent chaos has also created an opportunity
0:50.9	for companies to build solutions to tidy out the resulting messy ways
0:54.4	data is stored and shared and help insurers get organized. Viper is one of those companies.
1:00.1	It was founded in pre-insuretech days and has evolved to help insurers deal with a problem,
1:04.9	which, as I refer to later on, shouldn't really exist but does. Now having helped tidy up everyone's
1:10.5	data, the team at Viper
1:11.7	are now realizing they can also deliver some helpful insights along the way. Viper was sold by the
1:17.3	founders, Richard and Robert Brown, a couple of years ago, handing over the reins to today's guest
1:21.8	and current CEO, Paul Templer. Paul, Templar.
1:32.1	Paul, really pleased to have a chance to catch up with you today.
1:36.3	I've been following Viper for a number of years and really intrigued to see what's happened since you were founded in 2009.
1:38.9	Your data analytics platform amongst other things are going to be talking more
1:42.8	about that as we go on.
1:45.0	You announced an investment by Tenzing Private Equity in 2020, and I know you're going to be
1:50.2	using this to expand the support of what you're doing, offering that to underwriters and data
1:54.1	analysts generally. Paul, welcome. Thank you, Retti. Good to be here. So you yourself personally,
	...

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