Charles Taylor introduces Bordereaux Synchronization
### Revolutionizing Bordereaux Processing: A New Era for Insurance
In the ever-evolving world of insurance, technology is playing an increasingly significant role in streamlining and automating manual processes. One such area that is witnessing a transformation is bordereaux processing, a crucial aspect of the industry that involves the exchange of data between insurance companies and brokers.
### Pioneering Solutions in Bordereaux Automation
- **Bordereaux Sync**, a new product launched by Charles Taylor, is designed to enhance data integrity by identifying and correcting inconsistencies and anomalies in data, such as mismatched country/address details, currencies, and other discrepancies. It also provides a consolidated list of fixed issues at the end of the data transfer and notifies the user if it cannot solve an identified issue[1].
### Partnerships Driving Progress
- Insurity Partners, a leading name in the insurance sector, has announced a partnership with VIPR Solutions to improve program business efficiencies. The integration of Insurity and VIPR platforms will enable real-time bordereaux processing, focusing on the London market and the U.S. domestic P&C market[2]. - Brisc, an insurance-specific AI platform that operates in stealth mode before its recent emergence, has been partnering with insurance organizations to tackle various insurance-related issues. Brisc's focus areas include claims, submissions, and bordereaux reconciliation, aiming to help teams cut costs, reduce manual work, and make faster, more accurate decisions[3].
### The Future of Bordereaux Processing
The partnership between Insurity and VIPR, and the launch of Bordereaux Sync by Charles Taylor, are indicative of the industry's shift towards automation and integration in bordereaux processing. These developments are expected to remove the need to produce traditional bordereaux, leading to a more efficient and streamlined process[4].
Moreover, companies like V7 Go, Insly, Inari.io, OIP InsurTech, and VCA Software are leveraging AI, automation, and integrated workflows to transform traditionally manual and document-heavy processes like bordereaux management[5]. As the insurance sector continues to embrace technology, we can expect to see further advancements in bordereaux processing and the overall efficiency of the industry.
### Key Dates
- The elective market service via LIMOSS, provided by Charles Taylor and LIMOSS, will be available from 15 September 2024[6].
[1] Charles Taylor launches Bordereaux Sync to enhance data integrity. (n.d.). Retrieved from https://www.charles-taylor.com/news/charles-taylor-launches-bordereaux-sync-to-enhance-data-integrity [2] Insurity Partners announces partnership with VIPR Solutions to improve program business efficiencies. (n.d.). Retrieved from https://www.businesswire.com/news/home/20220510005615/en/Insurity-Partners-Announces-Partnership-with-VIPR-Solutions-to-Improve-Program-Business-Efficiencies [3] Brisc: The AI-Powered Insurance Platform. (n.d.). Retrieved from https://brisc.ai/ [4] The partnership aims to remove the need to produce traditional bordereaux. (n.d.). Retrieved from https://www.charles-taylor.com/news/charles-taylor-and-limoss-announce-partnership-to-deliver-an-elective-market-service [5] A comparative snapshot of solutions and companies in the insurance sector. (n.d.). [6] The elective market service via LIMOSS, provided by Charles Taylor and LIMOSS, will be available from 15 September 2024. (n.d.). Retrieved from https://www.charles-taylor.com/news/charles-taylor-and-limoss-announce-partnership-to-deliver-an-elective-market-service
Events such as the partnership between Insurity Partners and VIPR Solutions, harnessing data-and-cloud-computing technology for real-time bordereaux processing, highlight the industry's ongoing transformation. AI platforms like Brisc are also collaborating with insurance organizations to revolutionize bordereaux reconciliation, further demonstrating technology's potential for streamlining traditionally manual processes in insurance.
