Types of bordereaux
A risk or premium bordereau lists the policies written in the period, with insureds, locations, coverages, limits and premium. A claims bordereau lists claims notified and paid, with reserves and payments.
Why bordereaux matter
Bordereaux are how a capacity provider oversees business written under its authority, feeding premium accounting, exposure management and audit. An error can mean cash that does not reconcile or risks written outside the binding authority.
Why they are hard to work with
Formats tend to vary by capacity provider, although in the Lloyd's market the Coverholder Reporting Standards set a common structure. MGAs with several providers produce several versions of the same data, and carriers and reinsurers must map files from many sources into one schema.
Where automation helps
For an MGA, automation produces every required format from one clean source; for a carrier or reinsurer, it maps, validates and reconciles incoming bordereaux. Most of the value lies in validation, which checks each line against the binding authority and reconciles totals to cash.