Special Ep: Navigating the DDM switch-off with Paul Templar CEO of VIPR
Today’s guest is Paul Templar, CEO of insurance technology solutions specialist VIPR.VIPR started out in the London Market 14 years ago and it’s best known for providing software solutions to the endless administrative problem of the ingestion and checking of data in the Delegated Authority (DA) space.And this goes right to the heart of what Paul and I are going to talk about today. This year is highly significant for carriers writing Delegated Authority business in the London Market because DDM – the system that they use to process this business into Lloyd’s - is going to be retired in September. LIMOSS - the not-for-profit body in charge of sourcing and operating common services for the London Market has confirmed the change.So, in just under nine months, a method of underwriting that produces around 40% of London Market premiums is going to take a big step into the unknown. There is an awful lot at stake and a huge amount of work has to be done between now and the autumn.And that’s why I am really grateful to have Paul as an expert guide through this potential maze. Paul is a great ambassador for his company and the wider market and I can’t think of a better-qualified advisor as the market transitions from a centralised service model to one that is likely to be driven by data standards.NOTES: DDM is an abbreviation of Delegated Data Manager. It traces its origins back to the DA Sats system.LIMOSS stands for London Insurance Market Operations & Strategic SourcingLINKS:https://viprsolutions.com/