Charles Taylor InsureTech has announced the launch of its latest innovation, Bordereaux Sync, an AI-powered solution designed to revolutionise data management in the insurance market.
The launch addresses a major challenge in insurance operations—how to effectively manage and clean bordereaux data, which is often riddled with inconsistencies and prone to errors, according to FF News.
This complexity stems from the multiple parties involved in delegated authority workflows, including insurers, brokers, coverholders and third-party administrators (TPAs).
Charles Taylor, known for its full-service solutions to the global insurance market, offers a range of technology and outsourcing services through its InsureTech division.
The company’s mission is to improve operational efficiency and data integrity across the insurance ecosystem through innovation and digital transformation.
The newly launched Bordereaux Sync tool uses advanced artificial intelligence to screen, correct and cleanse data from the outset, before it even enters a bordereaux management system such as Charles Taylor’s Tide platform. This proactive approach enables early detection and correction of issues like incorrect formats, missing fields, or mismatched currency and country details.
The tool combines generative AI and agentic AI to create an intelligent system capable of autonomously identifying and resolving errors. Bordereaux Sync also compiles a consolidated list of resolved issues and alerts users when intervention is required. This intelligent error handling not only increases data reliability but also enhances confidence in downstream data processing.
Crucially, Bordereaux Sync functions as a standalone SaaS solution and integrates easily with any bordereaux management system. It supports version 5.2 of Lloyd’s Coverholder Reporting Standards, ensuring compatibility and encouraging data standardisation. A beta release is expected in Summer 2025 with a select group of clients, followed by a broader market rollout.
Beyond error correction, the tool aims to drastically reduce operational inefficiencies by enabling straight-through processing and minimising the risk of human error. This positions Bordereaux Sync as a pivotal step forward in the digital evolution of the insurance sector.
Charles Taylor InsureTech head of global managed services and London market Kieran Maloney said, “Bordereaux Sync is a precision tool that resolves errors and inconsistencies, saves time, and reduces operational costs. It’s a natural complement to Tide, our bordereaux management platform, but can be used by anyone in the insurance community who handles bordereaux. Moreover, because it’s powered by AI, it will evolve and become progressively more effective as a first-step AI solution for data cleansing and repair.”
Microsoft CTO and digital strategist Philip Fumey added: “We’ve been working very closely with Charles Taylor InsureTech on Tide and AI initiatives. Microsoft is committed to improving insurance with the latest technologies, and our collaboration on the development of Bordereaux Sync underlines how AI-powered tools can transform vital insurance activities and increase operational efficiency.”
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