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Delegated authority now represents more than 40% of Lloyd’s gross written premium and over 10% of the UK general insurance market (Deloitte). Yet much of the operational infrastructure supporting that volume still depends on spreadsheets, email chains, manual reconciliations, and disconnected workflows. The result is not simply inefficiency; it is operational drag at market scale. The London Market is estimated to spend more than £800 million annually on operational burdens s

Why are insurers moving away from monolithic core systems? For nearly two decades, insurance modernisation followed a predictable formula; consolidate systems, centralise workflows, and push more operational capability into a single core platform. The Policy Administration System became the centre of gravity for underwriting, administration, reporting, integrations, and operational control. Now the market is moving in the opposite direction. The rise of “Skinny PAS” architect

A bordereau (plural: bordereaux) is a structured report used in insurance to list risks, premiums, or claims under a delegated authority agreement. It’s submitted by a coverholder or third party to an insurer or reinsurer, typically on a monthly or quarterly basis. In practice, bordereaux are not standardised. They vary widely in format, structure, and data quality, which is where most operational problems begin. Bordereau Definition: Understanding Bordeaux and their role in

Across the Lloyd’s and specialty insurance market, few operational frustrations are as persistent or as quietly consequential as the inability to reconcile what should be a shared view of the truth. Data exists in abundance, yet confidence in that data remains uneven. Underwriting systems, bordereaux submissions, claims reports and finance models frequently tell different versions of the same story, each shaped by its own timing, structure and interpretation. This is not simp