Is your bordereaux data quality giving you a headache?

But who is ultimately responsible for resolving this conundrum? The answer, unfortunately, is not that simple. Each party within the delegated authority chain must take responsibility for their data needs and ensure that downstream and upstream stakeholders are consulted on the approach. It is not for the capacity provider to dictate data requirements. Likewise, it is not for the broker/coverholder to just produce what they have always delivered. The answer is that everyone should be working together to ensure that the datasets shared across the market meet the needs of all stakeholders, allow all parties to answer the critical business questions that can drive competitive advantage and ensure that delegated business continues to be a significant and profitable part of the insurance industry. 

GreenKite’s COO, Karen Stanford has written a paper providing some helpful background on market activities and initiatives to improve bordereaux data quality that could be considered as part of an individual firm’s bordereaux data quality improvement plan. This is not an extensive guide but more to provide pointers and further considerations to be included depending on each firm’s state of data quality maturity. 

 To read Karen’s informative paper, please click here.  

The GreenKite team are working with many capacity providers and coverholders to assist them with their bordereaux data management. Please contact nadia@greenkiteassociates if you would like to learn more about this service.