BAP enables P&C insurance carriers to scale their businesses with accuracy during a catastrophe.

1. CATASTROPHE PREPAREDENESS
& RESPONSE:
Scaling your business with accuracy

2. Reflections
• 2015 marked the 10th consecutive year without a major hurricane making landfall in the
United States.
• Late last year, Hurricane Mathew devastated parts of the Caribbean before battering
the U.S. East Coast. Initial reports from AIR Worldwide estimated the damage could
cost insurers as much as $8.8 billion.
• Claims leakage represents millions and millions of dollars lost in the insurance industry.
• Negative impact of claims leakage can be accomplished through the effective use of
technology and process automation.

3. Third-Party Contributors
• More than 70% of companies use agents for both the catastrophe process and client
outreach.
• 92% of carriers have preexisting contracts with IA firms for catastrophe response.
• Most companies do not have an internal certification process to gauge the capabilities
of independent adjusters before allowing them to handle claims for their organization.
• 61% of insurance companies do not have an internal certification process to screen
independent adjusters.
• A great deal of information passes between carriers and third-party providers of
services that are part of the insurance value chain. In turn, this data is held by
organizations with a wide range of security standards.

4. Impacts to the Top and Bottom Lines
• Claims leakage represents millions and millions of dollars lost in the insurance industry.
• Reducing claims leakage has become one of the most important areas of strategic
concern to insurers.
• Claims leakage of an average insurer is typically 8-12% of claims costs.
• Best practices suggest leakage should be 2-3%.

5. BAP™ – Preventing Problems Before they Occur
What is it?
• BAP is a global invoicing platform that enforces best practices by validating and
reporting clean data about third party contributors.
What does it do?
• Plug-and-play with leading estimating platforms in the industry.
• Provides a secure electronic channel that extends workflow to third-party providers.
• Automated Invoice Creation = Provides validation to generate clean data.
• Eliminates manual entry, mitigates errors by importing data from the estimating tool.
• Automated Reconciliation = Enforces preexisting contracts in force.
• 100% of all invoices processed are reconciled against established fee schedules.

6. Immediate Impact
Why do you need it now?
• Advanced Reporting
• Clean data delivers sound metrics that empowers leadership to make data driven decisions.
• Increased Productivity & Efficiency
• Empowers contributors to remain focused on core competencies by streamlining processes.
• Foundation for growth = scale with accuracy and control!
• Centralized Repository for all fee schedules and invoices
• Administrative controls
• Retention and compliance
• Strengthen and Nurture Vendor Relationships
• BAP makes it easy for vendors to work with carriers.
• Provides vendors with visibility into the billing and payment process.
• Strengthens vendor relationships through structured reporting/metrics.
• Compliment to multi-state expansion with the necessary controls in place.

7. Request a Demo or Free Trial of BAP™:
vipsoftware.com/request
Call us directly:
813.837.4347