Pivot Point for DUA/Binder/Program System

Delegated Underwriting Authority, or binder or bordereau or program business, can be more complex than it seems. Recent requirements for improved data standards have been imposed on the sector. Specific information about a particular risk to be covered by a binder, whether it be location or other risk characteristic needs to be captured. Improved binder management standards require the MGA or market, ideally, to be able to settle premiums and claims against a specific risk.

The entire binder management process is conditioned on the accuracy and quality of the risk-related data. If that data is wrong the entire settlement process can be wrong. Unfortunately, few markets or MGA’s in current market conditions can afford to mandate to their coverholders use of a particular data template as the sole and exclusive way of doing business with them.

The Pivot Point Binder and Data Vera applications address the data challenge by ensuring that clean and accurate data is used for premium, claim and settlement association with the correct risks. Built-in business rules ensure that locational, construction, peril proximity, and many other thresholds are applied to each record in a file to be certain that the risk data you are receiving is the risk data you believe you are underwriting.

The Pivot Point Binder and Data Vera applications are web-based and may be configured for access by either coverholders and markets or both for either data entry or report retrieval.