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CATEX Bordereau/ Program Management System

May, 2011

Volume 2, Number 2

In This Issue

· Know the challenges facing your markets

· How you can profit by anticipating market needs

· Third Party Administrators take note

Important Links

Lloyd’s Coverholder Premium Reporting Standard Bulletin

Lloyd’s Coverholder Claims Reporting Standard Bulletin

Bordereau/Program brochure

Short Video Overview

Lloyd’s Coverholder Technology Forum


Bordereau/Program System Ads

· Underwriter Robot

· Needle in Haystack

· Bordereau Bloodhound

· Blindfolded Underwriter


To see 10 minute video or to learn more please contact:

Know what your Markets are facing






Lloyd’s, SOLVENCY II, Dodd-Franks, solvency stress tests, etc., are all in the news but do you know how those topics affect YOU and your day to day business? You had better because Lloyd’s, European and US regulators are taking actions that will capture the attention of your markets whether they are syndicates or US carriers.

Right now it’s impossible to open a new syndicate at Lloyds unless disaggregated data can be collected on any and all individual risks that are to be underwritten by that syndicate. Existing syndicates are being strongly urged by Lloyd’s to meet the new standard that’s in place for newcomers as well. Somewhat ominously, perhaps, Lloyd’s has said that it’s doubtful that regulatory requirements will be issued but that the “competitive forces in the market will separate those that comply and those that do not”.

What does that mean? Simple. Tools exist today that allow an underwriter to actually underwrite specific risks that are cached in endless rows of bordereau data. Data, that “hides in plain sight” (to use a phrase du jour!) no longer is an excuse. If the syndicate collects the data you need to analyze it for underwriting purposes.

So those “competitive forces”, that Lloyd’s believes will separate those that comply and those that don’t, mean that non-compliers will price premium inadequately and risk unnecessary claim exposure. If a market competitor has complied with the data standard and is adequately pricing premium that means they are headed toward a profit –those that don’t are headed in the opposite direction. Ominous, indeed.

Bottom line? If your London market isn’t asking you for better delegated authority data yet it’s because they have temporarily misplaced your number. You can bet that you will be hearing from them.

If you have several syndicate markets that means that you can expect to have different report requests for different products. It also means that the monthly exercise of culling through all of the incoming spreadsheets you receive to report premium and claims bordereau is going to become more time consuming. You won’t have much of a choice in the matter though if your market is pushing you to get the data that they’re being asked for.

Not Necessarily a bad thing at all


Description: can get a jump on the inevitable request from your market. An apple a day will can keep the doctor away; or, an ounce of prevention is worth a pound of cure. The old adages are just as true when reviewing your own data processes.

If you were able to present each of the risks you’ve bound on behalf of the authority delegated to you by your market(s) to each of you market in a disaggregated manner reflecting; premium information, location, endorsement activity, claim activity, product type, retail originator, and so on, what do you think your market would say to you?

We know what the market would say because our MGA and binding broker clients have told us. The markets are thrilled to receive data in such a detailed and sortable manner. Our clients have told us of incidents where markets have contacted them to run claim or loss estimates on risks they’ve bound on their behalf! We’ve even heard of discussions about increased commission flowing to MGA’s in exchange for the improved data resources.

Best yet though is the fact that you as an MGA or binding broker can put “cloud computing” to work on your behalf 24/7. Using our secure, global hosting network you can make this data available to your markets 24 hours a day. We can show you how to track each time your market accesses the data too.

So why not be ready for that call from your market? Using a secure, web-based service such as the Pivot Point Bordereau/Program Management System you can easily upload every kind of incoming spreadsheet; automatically format it to our system’s data fields; and then produce –in a matter of seconds – detailed premium and claim bordereau information that is specific to each risk.

Here’s another point too. So long as the data is disaggregated it can easily be rolled up to aggregate data simply by selecting a button on our system. Try that in reverse with a system that only captures aggregate data! It won’t work.

TPA's can use the System too


Third Party Administrators (TPA’s) often do the unglamorous but vital back-office work of the delegated authority world. Laboring over a seemingly endless stream of different types of incoming spreadsheets the value proposition of a TPA is to produce a coherent report to the MGA or market on premiums, claims or endorsements pertaining to bordereau or programs.

The Pivot Point Bordereau/Program Management System can make life much easier for a TPA. Our unique front end upload feature allows the user to instantly transform any incoming spreadsheet into usable data by automatically dropping spreadsheet data into our system. Once in the system the TPA has complete control over how that data is massaged, sorted and reported. The TPA can easily set up client specific “extra-nets” to allow its customers access to that data 24/7.

Visit CATEX at Lloyd’s Coverholder Technology Forum

CATEX will have a display booth at the September Lloyd’s Coverholder Technology Forum and will be describing and demonstrating its Bordereau/Program Management System. Please access the link at left for more program information. We hope to see you there.