London Integrated Bordereau
Relieve the pain of managing the Lloyds contract rules, data standards and contract compliance.
LIBRA is the standalone contract compliance and bordereau production tool for Lloyd’s Delegated Authority market. It allows MGA’s to send a timely, reconciled and complete bordereau, with all data points being validated against contract rules and caps, while reducing manpower needed to maintain it.
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The only Bordereau tool with complex Lloyd’s Syndicate contract rules built-in
Real-time Aggregates and Premium monitoring and calculations
Limits and Premium accurately distributed per building, per location
Built-in aggregate controls filtered and allocated by contract, state and county
Accounts with missing data available for easy validation
Full user and admin control of the application, security audits and logs
Incredibly intuitive! Users comfortable within 10-minutes
*Compatible with AIM or any Legacy Management System
What value does it create for your business?
Keep your Aggregates in check at all times. REAL time.
Never exceed county and state caps and avoid any Lloyd’s Underwriter ire
Reduce overhead resources needed to maintain countless sheets
Report the data in the standard Lloyd’s format to ensure compliance
Easily configure complex rules for all Contracts and Syndicates
Quickly reallocate risks if mandated saving a lot of manual labor
Quick access to our pool of London Market experts
With one of the largest delegated authority books in Lloyd’s, with tens of millions in GWP allocated over 15+ syndicates, our client’s need of simplifying their Bordereau management was extreme.
Reality before LIBRA
Repeatedly exceeding allotted wind aggregates, which could lead to reputational damage in the London market, our client increased efforts to maintain five separate bordereaux. Reporting aside, the rolling aggregate also had to be tracked and reconciled. The excel-based tools and software required significant manual resources, leaving them error-prone. And dispersing data between four systems wasn’t helping with hitting deadlines, as they frequently missed Lloyd’s 30-day window.
Reality after LIBRA
By using LIBRA, the new, streamlined Bordereau Management process took place. Seamless frontline allowed for faster quoting of Lloyds risks. Single-point data capture for Bordereau level information meant no more rekeying of information. Resources previously assigned to manage, eyeball, and reconcile against the invoicing system were moved to more strategic, value-added tasks. Aggregate Limits are now fully in control of our client and they are consistently producing a clean and validated Bordereau within the agreed window (15 days).
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Oooh I like that!! We should definitely try to do this!