Smarter bordereaux management for a new era of delegated authority

A recent webinar hosted by Insurance Post in association with Charles Taylor InsureTech brought together industry experts to explore the evolving landscape of bordereaux management and its role in the digital transformation of delegated authority. Here are the key insights.

The London market is witnessing a significant transformation in bordereaux management. As managing general agents (MGAs), brokers and other market participants gain greater flexibility in selecting their preferred solutions, the exit of the Delegated Data Manager (DDM) as the default bordereaux platform marks a pivotal shift.

A recent webinar hosted by Insurance Post, in partnership with Charles Taylor InsureTech, brought together industry leaders and experts in insurance technology and digital strategy to discuss the challenges and opportunities shaping bordereaux management in this new digital age. This article highlights their key insights.

The panel:

• Philip Fumey, account CTO and digital strategist, Microsoft
• Arjun Ramdas, CEO, Charles Taylor InsureTech
• Jonathan Swift, content director, insurance division, Infopro Digital
• Reiss Gavin, head of London market application development and delivery, Charles Taylor InsureTech

The current state of bordereaux management

Bordereaux management has long been a fundamental process in the London insurance market, enabling the structured reporting of premiums, claims, and risk data under delegated authority agreements. However, despite its maturity, the process still faces significant challenges, particularly around data quality and inefficiencies stemming from reliance on spreadsheets.

According to Reiss Gavin, bordereaux remain largely spreadsheet-driven, which leads to inconsistencies and data integrity issues. “Spreadsheets are flexible but lack control, resulting in data quality issues that require manual intervention,” he explained. Although existing systems aim to standardise and validate data, the burden of ensuring accuracy still falls on human oversight.

We’ve been working closely with Charles Taylor to ensure that the platform is not only efficient but also secure, allowing for seamless collaboration across the insurance ecosystem.

Technological advancements driving change

The webinar highlighted how technological advancements are transforming bordereaux processing. Charles Taylor InsureTech’s Tide platform, developed in collaboration with Microsoft, aims to help streamline bordereaux management by seeking to improve efficiency, security and data accessibility.

Philip Fumey emphasised Microsoft’s role in enhancing Tide’s capabilities, particularly in cyber security, cloud scalability and interoperability. “We’ve been working closely with Charles Taylor to ensure that the platform is not only efficient but also secure, allowing for seamless collaboration across the insurance ecosystem,” he said.

One of the most exciting developments discussed was the application of artificial intelligence and machine learning in bordereaux management. AI-driven automation can reduce manual errors, enhance data validation and enable predictive analytics for risk assessment. Microsoft’s generative AI models are being integrated to help improve data consistency and eliminate redundant tasks, thus allowing insurers to focus on higher-value activities.

The future of delegated authority and bordereaux processing

As the London market prepares for Blueprint Two, a major digital transformation initiative, the role of bordereaux management is expected to evolve further. Arjun Ramdas highlighted how phase two of Blueprint Two will have a more profound impact on delegated business, with platforms like Tide and legacy systems such as DDM playing a more prominent role in reducing complexity and enhancing market efficiency.

Looking ahead, industry leaders foresee a shift towards more integrated data ecosystems, where insurers, MGAs and brokers can seamlessly share and analyse data in real time. This will be driven by API strategies, allowing for smoother data exchange between different systems, and business intelligence tools that provide deeper insights into trends and performance metrics.

The speed of technological development will likely outpace corporate appetite for change.

Overcoming adoption challenges

Despite these advancements, the transition to more digital and automated bordereaux management is not without hurdles. As Reiss Gavin noted, “The speed of technological development will likely outpace corporate appetite for change.” Organisations must be willing to embrace innovation and invest in digital transformation to fully realise the benefits of automation and AI-driven insights.

Another key challenge is ensuring seamless collaboration across the insurance value chain. With many MGAs and cover holders operating on disparate systems, achieving full end-to-end digital integration remains a work in progress. However, solutions like Tide are paving the way for a future where capacity providers can gain real-time visibility into underwriting and claims data.

What to expect in 2025 and beyond

As Charles Taylor InsureTech refines its 2025 roadmap, several key enhancements are in the pipeline. A major focus will be on credit control functionality within Tide, addressing a longstanding challenge in delegated authority business. Additionally, pilot projects exploring AI-driven data augmentation and predictive analytics are underway, with the aim of further optimising bordereaux processing.

Arjun Ramdas outlined a long-term strategy for bordereaux management, envisioning a fully digital supply chain that enables seamless interaction from the point of policy issuance to risk reporting. “We see an opportunity for a truly integrated ecosystem where insurers and MGAs have full transparency and control over data flows, enhancing efficiency and compliance,” he stated.

We see an opportunity for a truly integrated ecosystem where insurers and MGAs have full transparency and control over data flows, enhancing efficiency and compliance.

Conclusion

The shift towards a more flexible and technologically advanced approach to bordereaux management is undeniable. The phasing out of DDM as the default platform, coupled with the rise of innovative solutions like Tide, has empowered market participants to seek out tailored solutions that meet their specific needs. This transition is further accelerated by the integration of AI, machine learning and business intelligence tools, which are revolutionising how bordereaux data is processed and analysed.   

As the London market embraces the digital transformation outlined in Blueprint Two, seamless data exchange and collaboration will be paramount. While challenges around adoption and integration persist, companies like Charles Taylor InsureTech and Microsoft are seeking to play a crucial role in driving innovation and facilitating this evolution. By embracing these advancements, the London market can unlock the full potential of bordereaux management and navigate the future of delegated authority with confidence.

 

Sign up to watch the webinar here.

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