VIP Software offers insurance carriers a single platform for optimizing vendor relationships. Carriers can easily plug into our network of accredited and authorized vendors and reap the financial benefits of invoice automation, proper expense allocation, and performance benchmarking.
Keeping track of fee schedules across numerous vendors and contracts creates serious challenges in reconciling invoices for accurate payment. The VIP platform allows you to house all of your vendor fee schedules in one place and automatically deploys the terms of the fee schedules against every single vendor invoice, ensuring billing is 100% accurate.
SLA breaches can potentially cost carriers millions of dollars a year. Ensuring your vendors are meeting SLAs is critical to policy holder experience during a loss. Using VIP's SLA Manager, you can track SLA performance and choose to automatically deduct penalties for vendors who fall out of compliance.
Mounting unallocated expenses can be a significant driver of claims leakage. Every invoice processed through VIP Software is allocated back to the claim file, ensuring vendor and insurtech expenses are accounted for, and allowing carriers to past costs on to reinsurers in times of catastrophe.
The outcome of our automated vendor management platform is rich performance and expense data that carriers can leverage to streamline their operations. Benchmark your vendor expenses against anonymized industry data, and see which vendors stack up best with vendor scorecards.
We help insurance carriers easily find, activate, and score their claims vendors through the leading network of claims service providers.
