Automated bordereaux production, tailored to match the requirements of each carrier, combined with realtime MI and reporting
The role of the underwriting agent has become increasingly important as the insurance consumer seeks speed of digital delivery, combined with personalized tailored products. To efficiently balance the needs of their customer with the advanced risk management of the modern carrier, MGAs can now provide bespoke data reporting in real-time. Automating this process reduces operating expenses whilst strengthening the commercial partnership between the MGA and their capacity providers.
- Standardized bordereaux schemas lose the details needed for accurate risk pricing
- Limited data reporting reduces carriers’ trust in the quality of underwriting
- Manual data preparation creates information lags, increasing expense ratios
- Inconsistent data reduces carriers’ appetite to deploy capacity
- Rigid reporting impedes identification and management of emerging risks
- Legacy data from acquired through M&A needs integrating