Delegated Authority Management

What we do

JMD provide a unique solution to Delegated Authority Management where we facilitate effective bordereaux administration to bring about improved coverholder management, claims monitoring, regulatory reporting and enhanced credit control.

We manage premium and claim bordereaux, Risk Level Data and provide earned to incurred figures for our clients.  Our solution delivers the benefits of a fully managed service, economies of scale and enhanced reporting and visibility through a centralised service that utilizes a tried and tested in-house system and experienced technicians.

We currently manage in excess of 6,000 binders providing key data extracted from over 200,000 bordereaux to Managing Agents in this sector.

Benefits

  • The development and implementation of best practices in relation to the recording, monitoring and collection of premiums significantly enhances internal controls and supports external regulatory requirements
  • The ability to handle multiple bordereaux formats (e.g. Excel, Acord, XML, CSV)
  • The creation of unique coverholder standards that are mapped to common market standards for ease of reporting and data extraction and manipulation
  • Reporting that enables our agents to effectively monitor EPIs and thus ensure that capacity is effectively managed and controlled
  • Configurable data and business validation rules that are inbuilt in the system at contract level
  • Fully interactive digital dashboard to enable underwriters to review portfolio performance
  • Information derived from this service enhances the credit control activity and accelerates cash flow
  • Proven track record in working with the market to improve bordereaux provision and quality
  • Enhanced data integrity
  • Supports markets regulatory reporting requirements
  • Streamlined throughput of risk level data to existing catastrophe modelling systems
  • Proactive review of Delegated Authorities before renewal
  • Where the contract allows, underwriters are able to cancel specific premiums due to non-payment
  • Supports client’s own internal processes and procedures
  • Premium bad debt exposure to coverholders and brokers is minimised
  • Supports more effective coverholder auditing as auditors are better focused on the relevant issues
  • Better understanding of exposure by claim analysis
  • Ability to measure coverholders against market standards
  • Complements existing credit control service

JMD is able to integrate between our in-house systems and clients’ own workflow and document management systems.

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