Summary

Bordereaux management involves a wide variety of information about premiums, claims and other insurance activities and risks. The information flows back and forth between insurers, brokers, coverholders, MGAs and third-party providers – and it’s always a demanding and complicated process.

Thanks to Bordereaux Sync, an AI-powered bordereaux solution developed by Charles Taylor InsureTech (CTI), there is now a highly effective tool that can be used with any bordereaux management system and will significantly improve the speed and accuracy of data flows.

The challenge: data bottlenecks and errors

As an insurance expert, Charles Taylor InsureTech is committed to improving business processes with the latest technology. CTI’s specialists were keen to solve the error-prone and time-consuming task of reporting bordereaux data, helping the insurance industry to reduce costs and stay on top of security and compliance.

The CTI team knew there had to be a better way to process bordereaux at the start of the information flow. The challenge was to minimise manual processing and maximise efficiency by intelligently managing the multitude and variety of bordereaux sources and formats. The team set about developing a smart technology assistant that could screen all bordereaux files and spot and correct mistakes before sending the data to a counterparty’s bordereaux management system.
 

The solution: fast, dependable data, powered by AI 

Working with an AI technology partner, the CTI team built a plug-and-play SaaS tool that uses advanced technology to automate data cleansing and validation and convert bordereaux to all Coverholder Standards including Lloyd’s.

Built on Microsoft Azure, the tool identifies mismatched countries, addresses, and currencies, as well as other inconsistencies that would impact the speed and accuracy of bordereaux management.

Generative AI and agentic AI give Bordereaux Sync its focus and power. Generative AI is continually evolving and becoming more refined and responsive, meaning Bordereaux Sync will become progressively stronger, while agentic AI operates autonomously and can ingest large volumes of data, analyse it and make informed decisions. Additionally, the AI can be customised to suit specific bordereaux requirements, and a human-in-the-loop stage ensures that everything is monitored and authorised. 

Proven technology, saving time and money

Following its launch, Bordereaux Sync has quickly proved its worth. Initial client feedback suggests substantial time savings in bordereaux processing, with some teams reporting reductions of up to 167 hours per month. Instead of spending time manually checking data, resolving issues, and requesting corrections from counterparties, insurance teams can rely on automation and AI to submit clean data for downstream processing. 

Shaping the future of bordereaux – and insurance

As a standalone SaaS solution that fits seamlessly into existing workflows, Bordereaux Sync is an invaluable resource for everyone in the insurance value chain. Moreover, it is highly versatile and will support future technology innovations, underlining Charles Taylor InsureTech’s commitment to continuously develop advanced technology for the insurance industry.

“Our clients have been impressed with the speed to market and capability that Bordereaux Sync brings to their organisation. Their feedback has validated that Charles Taylor InsureTech has in its new AI offering and, more importantly, has provided vital information in shaping not only our AI tool but also our wider AI roadmap.

Reiss Gavin, Head of London Market Application Development Design, Charles Taylor InsureTech