Bordereaux that reconcile, whether you send them or receive them.
Bluegrass builds bordereaux systems for both sides of delegated authority: the MGAs and coverholders that produce them, and the carriers, reinsurers and TPAs that receive them in many formats.
Bordereaux are where delegated authority earns or loses trust: a late or inconsistent report is a capacity provider's first warning, and a carrier that cannot read them does not really know its exposure.
What bordereaux involve today
A bordereau is a periodic schedule of risks, premium or claims under a binding authority. Each capacity provider tends to want its own format, so MGAs build several versions of the same data, usually by hand in spreadsheets.
The receiving side gets the reverse: files from many MGAs, with different columns, codes and currencies, to map and load. Errors on either side surface late, as premium that does not reconcile to cash or risks written outside authority.
How automated bordereaux processing works
- 01
Collect the source data
For MGAs, policy, premium and claims data are drawn from the policy administration and claims systems; for carriers and reinsurers, incoming files are collected from email, SFTP and portals.
- 02
Map to one schema
Each source is mapped onto one schema, yours or a market standard such as the Lloyd's Coverholder Reporting Standards, and a person confirms the first file in any new format.
- 03
Validate every line
Each line is checked for required fields, valid codes, dates within the binding period, classes and limits within authority and premium that ties to the policy system or to cash.
- 04
Reconcile
Totals are reconciled across periods and against cash or the ledger, and every difference is listed with the lines that cause it.
- 05
Produce or load
MGAs get each capacity provider's report in its required format, and carriers and reinsurers get clean, normalized data in their own warehouse.
Where people stay in the loop
New formats, failed validations and reconciliation differences go to a person with the evidence. Routine periods for established formats run straight through once they have reconciled cleanly long enough to be trusted.
The systems it works with
Bordereaux work draws on the policy administration and claims systems and the general ledger or cash records, and on the receiving side it ends in your data warehouse.
When to build it, and when to buy it
Delegated authority platforms and bordereaux management tools exist on both sides of the market, and a carrier whose MGAs all report through one platform may be well served by it.
A custom build is worth considering when your programs are unusual, when the data must land in your own warehouse and schema or when bordereaux are part of a wider reporting and reconciliation problem no single product covers.
We hold no reseller agreements, partner quotas or revenue share with any vendor, so a recommendation to buy is made on its merits.
What this work costs you today
A quick way to put a number on the problem before talking to anyone, using your own figures rather than ours.
Enter your volume and the minutes each one takes to see what the work costs in a year.
The numbers stay in your browser and are not stored or sent anywhere. Bring the figure to the first call, since it is the baseline any system should be measured against.
Questions about bordereaux automation
- Can it follow the Lloyd's Coverholder Reporting Standards?
- The schema can follow the Lloyd's standards where a capacity provider requires them, or your own where it does not, and both can come from the same source data.
- We receive bordereaux from many MGAs. Can it handle every format?
- Each new format is mapped once, confirmed by a person and then handled automatically, so adding an MGA becomes a mapping review rather than a project.
- Can it check bordereaux against the binding authority agreement?
- Authority limits, classes, territories and dates from the agreement become validation rules, and any line outside them is flagged with the rule it breaks.
Related systems
A senior team that has done this before
We are a small, entirely senior team with fifty years of combined AI engineering, multiple granted patents and Y Combinator founders, from Yale, MIT, McKinsey, Goldman Sachs, Microsoft and Vista Equity Partners. The people who scope your work are the people who write the code.
Selected work
We built the AI transformation roadmap for a top-50 P&C brokerage, and it is saving the firm millions of dollars in vendor fees it did not need to pay.
Clients include some of the largest banks, RIAs, fintechs and AI labs, as well as a top-3 P&C carrier, a top-10 P&C brokerage, a top-5 trucking brokerage, a leading specialty MGA and a leading trucking MGA.
We run only 3 to 5 engagements at a time, so that every client works directly with the senior team.
About the team- Dozens
- of insurance companies, RIAs, banks and fintechs we have worked with
- 50 yrs
- combined AI engineering experience
- 10+ Patents
- granted to members of the team
- 100%
- of the IP we build is assigned to you
Find out whether this is worth building for your business.
A 30-minute call with an engineer usually shows whether this is worth building. Within a week you will have a free written point of view, including whether a packaged product would serve you better.