CATEX Bordereau/ Program Management System
Volume 1, Number 1
In This Issue
· How to profit from your data
· Evaluate the quality of your retailer submissions
· Match claim bordereau with premium bordereau
· Make monthly reporting to Lloyds simple
Bordereau/Program System Ads
You are a Funnel for bordereau data
We know that each month someone in your company has to sort through the e-mailed spreadsheets, mailed copies of policies, faxed risk lists, or ACCORD data to cull the data that you need to report to your market(s) each month.
Our system, the Bordereau/Program Management System can make that process very easy and that’s only the smallest benefit of our system.
The biggest benefit is that all of the bordereau data that you load each month onto syndicate and market reporting templates can be done once and then automatically thereafter.
That’s not even the biggest benefit though. The Bordereau/Program Management System lets you keep all of that data you send off to Lloyd’s and archive it in a secure web-based cloud system in which you can match premium and claim information against each specific risk listed on those bordereau reports.
Think about it. Instead of an aggregate number representing each product line you’ve bound or an aggregate number indicating your placements for a market our system lets you instantly disaggregate any bordereau to see how a risk performed.
Whether it is one specific risk; a group of specific risks; a product line originating with a particular retailer; or just about any parameter you care to choose, our system provides the information to you instantly in real time.
Would having that information before your market has it be of use to you? Would seeing which retailers are providing you the most profitable business to you be of interest? The possibilities are endless/
Lloyd’s syndicates are being pushed by regulators to provide better quality data on their delegated authority business –and with good reason. Soon about 40% of the total Lloyd’s premium dollar will originate from “binder business”.
If the syndicates will soon have this ability to monitor your performance shouldn’t you start playing by their rules and see the same metrics they will be looking at when it comes time to renew your arrangement?
Claim data is a goldmine for you
Our technology is proven
Our head office is in Princeton, New Jersey and our London office is across the street from Lloyd’s. Our philosophy is to work always to bring straightforward tools to each level of the insurance and reinsurance transaction. Your bank, your 401k manager and Amazon.com use tools like this every day. Our thinking is why shouldn’t our industry do the same?
Contact us today and we can arrange a 30 minute Web-Ex demo to show you our system and answer your questions.