The sheer volume of bordereaux with different formatting, presentation and reporting approaches makes the task of standardising the data contained within them challenging. With the need for information more crucial than ever, how do you turn bordereau data into meaningful information?

One obvious approach is to ask the coverholder, TPA or broker to change the way they report data, but it does have its downsides. 

Which standard should they adopt, why would they choose your format over that requested by A N OTHER, who will pay, how often will the standard change, does it meet the current regulatory requirements? These are just a few of the questions/obstacles that need to be addressed with this approach; an approach that is perhaps commercially sensitive.

The transformation approach is possibly the best solution, but we all know how problematic this can be! So how do you make it successful? Here are 3 suggestions:

A continual process  

Bordereau “Mapping”, the process of creating rules to transform a bordereau into a system or data standard should not be seen as a one-off process. Yes, the bulk of the work is completed up-front, but in the first bordereau how will you know how endorsements and cancellations are presented, or how return premium is submitted, and perhaps more crucially, how historic data is reported in subsequent bordereaux. If your bordereau management system does not automatically and intelligently review the transformation process for suitability, effectiveness and changes that need to be adapted to, you will need to implement a manual workflow to do this. Each bordereau should be reviewed against the “mapping”, with particular attention to the first 3 iterations.

The right people for the right task 

Knowing what regulation applies, the data required, the validations to apply, the reconciliation that is necessary, the correct formulae to use – this is just an insight into the knowledge that a bordereau technician is required to have when “mapping” bordereaux with traditional tools. If your bordereau management system does not embed this knowledge into its workflow, you may need to employ a conveyor-belt approach, with bordereaux passing along from person to person, with each focusing on a specific area, until complete.

Don’t bite off more than you can chew 

Some bordereaux contain a lot of data. However, it can require additional effort/expertise to transform. You should focus on the core requirements today, and revisit the rest when appropriate. The modern bordereau management systems allow you to do this without having to “re-map” or “re-process” bordereau; instead previously un-imported data is transformed with a few clicks of the mouse.

Ultimately, I would suggest using a dedicated modern bordereau transformation system. It will replace the manual, knowledge based aspects of the transformation process with intelligent autonomous counterparts. It will allow the individuals who are closer to the data subject to make informed decisions and focus on the present, but not at the expense of the future.