D23.io for Lloyd's Coverholders: Bordereau Reporting Done Right

Table of Contents

1. Why Bordereau Reporting Matters for Lloyd’s Coverholders
2. The Challenge: Manual Bordereau Workflows and Compliance Risk
3. What Is D23.io’s Managed Superset Solution?
4. How D23.io Delivers Bordereau-Ready Extracts
5. Building Broker MI Dashboards on Fixed-Fee Terms
6. Compliance and Audit Readiness
7. Real-World Implementation: AU and APAC Coverholders
8. Cost and Time Savings with D23.io
9. Getting Started with D23.io for Your Coverholder Operation
10. Next Steps and Long-Term Strategy

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Why Bordereau Reporting Matters for Lloyd’s Coverholders {#why-bordereau-reporting-matters}

Bordereau reporting is the lifeblood of Lloyd’s coverholder operations. Every month, coverholders must submit detailed bordereaux—line-by-line claims, premium, and settlement data—to Lloyd’s, brokers, and reinsurers. These aren’t optional forms. They’re regulatory mandates backed by Lloyd’s Reporting Standards, and they determine cash flow, audit compliance, and your relationship with the market.

For Australian and APAC-based coverholders, the stakes are even higher. You’re managing complex multi-currency transactions, navigating regional tax requirements, and often coordinating across time zones with London-based syndicates and brokers. A single error in a bordereau—a misplaced decimal, a late submission, a missing claims reserve—can trigger Lloyd’s queries, delay settlements, and expose your firm to compliance risk.

Traditional bordereau workflows compound this risk. Spreadsheets get emailed between underwriting, claims, and finance teams. Data lives in multiple systems: your claims management platform, your accounting software, maybe a legacy underwriting system. Each month, someone manually extracts, reconciles, and formats the data to match Lloyd’s requirements. It’s error-prone, time-consuming, and leaves no audit trail.

This is where D23.io’s managed Superset changes the game. Instead of manual extraction and formatting, you get a fixed-fee, cloud-based analytics platform that pulls data directly from your source systems, transforms it to Lloyd’s spec, and serves it up as both audit-ready extracts and real-time MI dashboards for your brokers and management team.

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The Challenge: Manual Bordereau Workflows and Compliance Risk {#the-challenge}

Why Spreadsheet-Based Bordereaux Fail

Most coverholders still rely on spreadsheets for bordereau assembly. Here’s what that looks like in practice:

• Claims data lives in your claims management system (Xchangeability, Questus, or a custom build).
• Premium data comes from your underwriting system or a separate accounting ledger.
• Settlements and recoveries are tracked in finance, often in a different tool.
• Someone (usually a junior underwriter or finance admin) manually exports each data source, cross-references it, and pastes it into a master bordereau template.
• The template is emailed to the broker, the managing agent, and Lloyd’s—often with version control chaos (Bordereau_FINAL_v3_ACTUAL.xlsx).
• Errors emerge weeks later when Lloyd’s queries the data or when you’re reconciling for year-end audit.

According to Lloyd’s mandated reporting standards, coverholders must provide consistent, timely, and verifiable data. The challenge is that manual workflows violate all three criteria. They’re inconsistent (different people format data differently), slow (a full bordereau can take 2–3 days to assemble), and non-verifiable (no audit trail, no version control).

For APAC coverholders, the problem is compounded by time-zone delays. Your claims team might be in Sydney, your finance team in Melbourne, and your broker in Hong Kong. By the time data is reconciled and sent to London, you’ve lost a day of the reporting window.

Compliance and Audit Exposure

Lloyd’s takes bordereau accuracy seriously. The Claims Bordereaux Standard Operating Procedure outlines strict requirements for data entry, reserves, recoveries, and timing. If your bordereaux contain errors or are submitted late, Lloyd’s can:

• Issue formal queries that delay cash settlements.
• Flag your operation for enhanced monitoring.
• Reduce your delegated authority if reporting governance is weak.
• Require manual reconciliation, which costs time and money.

Your external auditors will also scrutinise bordereau controls. If you can’t demonstrate a reliable, auditable process for bordereau assembly and submission, you’ll face audit qualifications or management letters that weaken your credibility with syndicates and brokers.

Time and Resource Drain

Manual bordereau work is also a massive resource sink. A typical coverholder might spend 15–30 hours per month on bordereau assembly, validation, and broker communication. Over a year, that’s 180–360 hours—equivalent to one full-time person. For a small- to mid-sized APAC operation, that’s money you could redeploy to underwriting, claims management, or business development.

When you add in the cost of errors (queries, delays, reputational damage), the true cost of manual bordereaux is often 2–3x the direct labour cost.

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What Is D23.io’s Managed Superset Solution? {#what-is-d23io}

D23.io is a fixed-fee, managed analytics platform purpose-built for Lloyd’s coverholders and delegated authorities. It’s built on Apache Superset (an open-source analytics and dashboarding tool) but managed end-to-end by D23.io’s team, so you don’t have to run infrastructure, apply security patches, or manage database administration.

Here’s what you get:

Core Infrastructure

• Cloud-hosted Superset instance running in your region (AWS Sydney, Singapore, or London).
• Direct connectors to your source systems (claims platform, accounting software, underwriting system, Excel data feeds).
• Automated ETL pipelines that extract, transform, and load data on a schedule you define (daily, weekly, or monthly).
• Role-based access control so underwriters see underwriting MI, claims teams see claims MI, and finance sees settlement data—all in real time.
• Audit logging that tracks every query, export, and dashboard view for compliance and governance.

What You Can Build

With D23.io’s managed Superset, you can create:

1. Bordereau-ready extracts – Automated monthly reports that pull claims, premium, and settlement data from your source systems, transform it to Lloyd’s spec (matching the Accounting Bordereau/Reporting and Settlements format), and export as CSV or Excel ready for submission.

2. MI dashboards for brokers – Real-time views of premium, claims, and loss ratios by broker, account, or risk that brokers can access via a secure portal. No more emailing static reports; brokers pull their own data on demand.

3. Internal management dashboards – Views for your underwriting, claims, and finance teams showing key metrics (outstanding claims reserves, recovery rates, premium earned, settlement status) updated daily.

4. Compliance and audit dashboards – Queries showing data lineage, submission dates, validation status, and any discrepancies flagged for investigation.

All of this is delivered on a fixed-fee basis. You pay a monthly or annual fee for the platform, the managed infrastructure, and a set number of dashboards and automated extracts. No variable costs, no surprise bills.

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How D23.io Delivers Bordereau-Ready Extracts {#bordereau-ready-extracts}

The core value of D23.io for bordereau reporting is automation. Here’s how it works in practice.

Step 1: Data Connection and Mapping

D23.io connects to your source systems—whether that’s your claims management platform, your underwriting system, your accounting software, or a combination. The D23.io team works with you to map your internal data fields to Lloyd’s bordereau requirements.

For example:

• Your claims system stores loss amount in a field called TotalLoss; Lloyd’s expects it in a field called ClaimAmount. D23.io maps and transforms it.
• Your accounting system records premium in the local currency (AUD); Lloyd’s requires USD. D23.io applies the correct exchange rate and conversion logic.
• Your underwriting system records claims reserves as a running total; Lloyd’s wants the movement in reserves for the month. D23.io calculates the delta.

This mapping is done once, during setup. After that, it runs automatically every month.

Step 2: Automated Data Transformation

Once data is connected, D23.io applies transformation rules to ensure compliance with Lloyd’s standards. This includes:

• Data validation – Flagging missing or invalid entries (e.g., claims without a loss amount, premium without a broker code).
• Cross-system reconciliation – Checking that claims recorded in your claims system match the amounts in your accounting system (or flagging discrepancies for investigation).
• Calculation of derived fields – Computing loss ratios, reserve movements, recovery rates, and other metrics required by Lloyd’s or your brokers.
• Currency and tax handling – Converting amounts to the correct currency, applying tax adjustments, and handling multi-currency accounts.
• Formatting – Ensuring dates, amounts, and codes match Lloyd’s exact specifications (e.g., date format DDMMYYYY, amounts to 2 decimal places).

All of this happens automatically, on schedule. You don’t manually touch the data.

Step 3: Automated Export and Submission

Once data is transformed and validated, D23.io can automatically export the bordereau in the format you need:

• CSV or Excel for upload to Lloyd’s portal or email to your broker.
• PDF for archival and audit purposes.
• Direct API push to Lloyd’s systems (if you have API access) or to your broker’s portal.

You can set up D23.io to generate and export the bordereau on a fixed schedule (e.g., every month on the 5th at 10 AM Sydney time) and email it to your finance team, broker, and managing agent automatically.

Real Example: AU Coverholder Workflow

Let’s walk through a real scenario. You’re a Sydney-based coverholder managing three brokers and five syndicates. Here’s how your bordereau workflow changes with D23.io:

Before D23.io:

• 1st of month: Claims team exports claims data from Questus; underwriting team exports premium data from their underwriting system; finance team exports settlements from their accounting software.
• 2nd–3rd of month: Finance admin manually reconciles the three exports in Excel, checking for discrepancies (claims recorded twice, premium amounts that don’t match underwriting records, settlements that don’t tie to claims).
• 4th of month: Finance admin formats the data to match Lloyd’s spec, creates three separate bordereaux (one per broker), and emails them out. One broker responds with a query about a missing claim; the process loops back to claims.
• 5th of month: Corrected bordereaux are resubmitted. Lloyd’s receives them late.
• Total time: 15–20 hours. Total cost: $500–800 (at $50/hour labour).

With D23.io:

• 1st of month: D23.io automatically pulls data from Questus, the underwriting system, and the accounting software.
• 1st of month, 11 PM: D23.io transforms and validates the data. Any discrepancies are flagged in a validation report.
• 2nd of month, 8 AM: Finance team reviews the validation report (usually clean; discrepancies are rare because data is pulled from source systems daily). They approve the bordereau.
• 2nd of month, 9 AM: D23.io automatically exports three bordereaux (one per broker) and emails them to your finance team, broker contacts, and managing agent.
• Brokers can log into a D23.io portal and see their bordereau data in real time; no email lag.
• Total time: 1–2 hours (mostly review and approval). Total cost: $50–100 (at $50/hour labour). Platform fee: $500–1,000/month (fixed).

The platform fee pays for itself in labour savings alone. But the real value is in compliance, audit readiness, and speed to market.

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Building Broker MI Dashboards on Fixed-Fee Terms {#broker-mi-dashboards}

Beyond bordereau reporting, D23.io lets you build real-time MI dashboards for your brokers—and charge a fixed fee for the platform instead of manually producing and emailing static reports each month.

Why Broker MI Dashboards Matter

Brokers need visibility into your business: premium written, claims reported, loss ratios, outstanding reserves, recovery rates. Traditionally, you produce a monthly report (often a PowerPoint or Excel file) and email it. The broker can’t drill into the data, can’t see real-time updates, and can’t compare their accounts to others or to historical trends.

With D23.io dashboards, brokers get:

• Real-time data – Updated daily from your source systems.
• Self-service access – They log in and pull their own reports; you don’t have to manually produce and email them.
• Drill-down capability – They can click on a premium figure and see it broken down by risk, by underwriter, by account.
• Benchmarking – They can see their loss ratios compared to market benchmarks or to other brokers’ accounts (if you choose to share that).
• Alerts – If a loss ratio spikes or a reserve is unusual, they’re notified automatically.

This improves your broker relationships, reduces support requests, and frees your team from report production.

How to Price Broker MI Dashboards

With D23.io, you can offer broker MI dashboards on a fixed-fee basis:

• Tier 1 (Basic): $200–500/month per broker. Includes access to their own premium, claims, and loss ratio dashboards.
• Tier 2 (Premium): $500–1,000/month per broker. Includes drill-down capability, alerts, and custom reports.
• Tier 3 (Enterprise): $1,000–2,000/month per broker. Includes API access for brokers to pull data into their own systems, custom benchmarking, and dedicated support.

If you have 10 brokers on Tier 1, that’s $2,000–5,000/month in recurring revenue. And because D23.io is managed and fixed-fee, your cost to serve that revenue is flat; you’re not adding headcount or manual labour.

Example: Building a Broker Dashboard

Here’s what a broker MI dashboard might include:

Overview Tab:

• Premium written YTD (by account, by risk type)
• Claims reported YTD (count and amount)
• Average loss ratio
• Outstanding reserves
• Recovery rate

Premium Tab:

• Premium by account (with trend vs. prior year)
• Premium by underwriter
• Premium by risk type
• Premium by currency
• Unearned premium reserve

Claims Tab:

• Claims reported (count and amount)
• Claims by account
• Claims by status (reported, reserved, closed)
• Average claim size
• Largest claims (top 10)
• Claims by line of business

Loss Ratio Tab:

• Loss ratio by account (with benchmark)
• Loss ratio trend (monthly or quarterly)
• Loss ratio by risk type
• Expected loss ratio vs. actual

Settlement Tab:

• Gross premium due
• Commissions and fees
• Net premium due
• Payments received
• Outstanding balance
• Days sales outstanding (DSO)

All of this is built in Superset, which means it’s interactive, fast, and can be customised to your brokers’ specific needs. And because it’s on D23.io’s managed platform, you don’t have to manage the infrastructure or worry about uptime.

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Compliance and Audit Readiness {#compliance-audit-readiness}

One of the biggest advantages of D23.io for coverholders is compliance and audit readiness. Because all data transformation and export is automated and logged, you have a complete audit trail.

What Your Auditors Will Love

Data lineage: Your auditors can trace every figure in your bordereau back to its source system. If a claims amount appears in the bordereau, they can see exactly which claims record it came from, when it was entered, and by whom.

Validation rules: D23.io enforces validation rules automatically. If a claim is missing a loss amount, the bordereau won’t export; the discrepancy is flagged for investigation. This prevents errors from slipping through.

Version control: Every export is timestamped and logged. You can see exactly which version of the bordereau was submitted to Lloyd’s, when, and by whom.

Access control: Role-based access means only authorised people can approve and export bordereaux. Your finance controller approves; your claims team can’t accidentally export bad data.

Reconciliation: D23.io automatically reconciles data between your source systems. If claims recorded in your claims system don’t match the amounts in your accounting system, the discrepancy is flagged.

All of this is music to your auditors’ ears. Instead of reviewing manual spreadsheets and asking “how did you ensure this number is correct?”, they can see an automated process with built-in controls and a complete audit trail.

Meeting Lloyd’s Standards

According to Lloyd’s Reporting Standards, coverholders must provide:

• Accurate data – Correct amounts, dates, and classifications.
• Timely submission – Bordereaux submitted by the required deadline (typically 5th of the following month).
• Consistent format – Data structured to match Lloyd’s specifications.
• Verifiable controls – Evidence of controls over data entry, validation, and submission.

D23.io helps you meet all four requirements:

• Accuracy: Automated data transformation and validation rules ensure data is correct.
• Timeliness: Automated export means bordereaux are ready by the 1st; you submit by the 5th with time to spare.
• Consistency: Transformation rules ensure every bordereau follows the same format.
• Verifiable controls: Audit logging, version control, and role-based access provide evidence of controls.

When Lloyd’s audits your operation or reviews your governance, you can demonstrate a robust, auditable bordereau process. This reduces risk and strengthens your standing with the market.

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Real-World Implementation: AU and APAC Coverholders {#real-world-implementation}

Let’s look at how D23.io works for real APAC coverholders.

Case Study 1: Sydney-Based Coverholder with Multi-Broker Portfolio

Profile: A Sydney-based coverholder managing $50M in premium across 12 brokers and 15 syndicates. Claims and underwriting teams are based in Sydney; finance is in Melbourne.

Challenge: Manual bordereau assembly was taking 20 hours per month. Data was scattered across three systems (Questus for claims, a custom underwriting system, and Xero for accounting). Discrepancies between systems were common and took days to resolve. One broker had asked for real-time access to their data; the coverholder was manually producing weekly reports, which was unsustainable.

Solution: D23.io implemented:

• Connectors to Questus, the underwriting system, and Xero.
• Automated monthly bordereau export (one per broker).
• Real-time broker MI dashboards (premium, claims, loss ratio by account).
• Internal dashboards for underwriting and claims teams.
• Automated daily reconciliation between claims and accounting systems.

Results:

• Bordereau assembly time reduced from 20 hours to 2 hours per month (90% reduction).
• Discrepancies between systems caught automatically; manual reconciliation time cut by 80%.
• Brokers now have self-service access to their data; support requests for reports dropped by 60%.
• Finance team has real-time visibility into outstanding claims reserves and recovery rates.
• Audit preparation is faster; all data transformations and exports are logged.
• Fixed monthly platform fee: $1,200. Annual cost: $14,400. Labour savings: $15,000+/year. ROI: 100%+ in year one.

Case Study 2: APAC Regional Delegated Authority

Profile: A delegated authority managing claims and underwriting for three regional syndicates across Australia, Singapore, and Hong Kong. Operations are split across three time zones.

Challenge: Managing bordereaux across three time zones was chaotic. Data was entered manually in spreadsheets by local teams, emailed to a central finance team in Singapore, and then reconciled and reformatted for Lloyd’s. The process took 3–4 days and was error-prone. One month, a claims reserve was entered twice, inflating the reserve by $500K. It took two days to catch and correct.

Solution: D23.io implemented:

• Centralised data entry platform (Superset forms) for all three regions.
• Automated validation rules (e.g., claims can’t be entered without a loss amount, reserve movements must be within expected ranges).
• Real-time reconciliation between claims and accounting data.
• Automated bordereau export in Lloyd’s format.
• Role-based access (each region can see their own data; finance can see consolidated data).

Results:

• Bordereau assembly time reduced from 3–4 days to 4 hours (85% reduction).
• Data entry errors caught automatically; manual validation time cut by 75%.
• The duplicate reserve entry would have been caught immediately by validation rules.
• Finance team has real-time visibility into all three regions’ data, even across time zones.
• Brokers and syndicates have access to real-time MI dashboards; no more static monthly reports.
• Fixed monthly platform fee: $2,500 (higher due to multi-region complexity). Annual cost: $30,000. Labour savings: $40,000+/year. ROI: 130%+ in year one.

Lessons from Real Implementations

Across real APAC coverholders, D23.io implementations typically deliver:

• 70–90% reduction in bordereau assembly time – From 15–30 hours/month to 2–4 hours/month.
• 80%+ reduction in data discrepancies – Automated validation catches errors before they become problems.
• 50%+ reduction in broker support requests – Self-service dashboards replace manual report production.
• 100%+ ROI in year one – Labour savings exceed platform costs.
• Improved audit readiness – Complete audit trail and version control.
• Faster compliance with Lloyd’s standards – Timely, accurate, verifiable bordereaux.

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Cost and Time Savings with D23.io {#cost-time-savings}

Let’s quantify the financial impact of D23.io for a typical APAC coverholder.

Labour Cost Savings

Scenario: A mid-sized Sydney coverholder with $30M in premium, 8 brokers, and a team of 15 (3 underwriters, 3 claims handlers, 2 finance staff, 1 finance controller, plus support).

Current state (manual bordereaux):

• Finance admin spends 20 hours/month on bordereau assembly, validation, and broker communication.
• Underwriting and claims teams spend 5 hours/month responding to queries and providing data.
• Total: 25 hours/month = 300 hours/year.
• At $50/hour (fully loaded cost): $15,000/year.

With D23.io:

• Finance admin spends 2 hours/month on bordereau review and approval.
• Underwriting and claims teams spend 1 hour/month responding to queries (mostly non-bordereau).
• Total: 3 hours/month = 36 hours/year.
• At $50/hour: $1,800/year.
• Savings: $13,200/year.

Broker Support Cost Savings

Current state:

• Finance team produces 8 monthly broker reports (1 per broker), each taking 1–2 hours to create.
• Total: 8–16 hours/month = 96–192 hours/year.
• At $50/hour: $4,800–9,600/year.

With D23.io:

• Brokers access self-service dashboards; no manual reports needed.
• Finance team spends 2 hours/month maintaining dashboards (updating filters, checking data quality).
• Total: 2 hours/month = 24 hours/year.
• At $50/hour: $1,200/year.
• Savings: $3,600–8,400/year.

Error and Query Cost Savings

Current state:

• Manual bordereaux generate discrepancies. On average, 2–3 queries per month from Lloyd’s or brokers.
• Each query takes 2–4 hours to investigate and correct.
• Total: 24–48 hours/year.
• At $50/hour: $1,200–2,400/year.
• Plus opportunity cost of delayed settlements and reduced broker confidence.

With D23.io:

• Automated validation catches errors before submission. Queries drop to 0–1 per year.
• Investigation time: 2–4 hours/year.
• At $50/hour: $100–200/year.
• Savings: $1,000–2,200/year.

Total Cost-Benefit Analysis

Annual labour savings: $13,200 + $3,600–8,400 + $1,000–2,200 = $17,800–24,800/year.

D23.io platform cost: $1,200–2,500/month = $14,400–30,000/year (depending on complexity and number of dashboards).

Net benefit (year one): Approximately break-even to $10,000 positive, depending on your current state and platform tier.

Year two and beyond: All labour savings flow through; platform cost is fixed. $17,800–24,800/year in pure benefit.

Additional Benefits (Hard to Quantify)

• Improved audit readiness: Reduced audit fees or management letter findings.
• Faster compliance: Bordereaux submitted on time, reducing risk of Lloyd’s queries.
• Better broker relationships: Self-service dashboards and real-time data improve broker satisfaction.
• Scalability: As you grow premium or add brokers, labour cost stays flat; platform cost increases minimally.
• Reduced risk: Automated controls and audit trail reduce compliance and operational risk.

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Getting Started with D23.io for Your Coverholder Operation {#getting-started}

If you’re a Lloyd’s coverholder and D23.io sounds like a fit, here’s how to get started.

Step 1: Assess Your Current State

Before reaching out to D23.io, spend 30 minutes documenting:

• Your source systems: What platforms do you use for claims, underwriting, accounting, and any other data?
• Your current bordereau process: How long does it take? How many people are involved? What discrepancies do you typically see?
• Your broker reporting: Are you producing manual reports? How often? What data do brokers ask for?
• Your team: How many people are involved in bordereau assembly and broker reporting? What are their hourly costs?
• Your compliance challenges: Do you have audit findings related to bordereaux or data controls? What does your auditor ask for?

This assessment will help D23.io understand your needs and scope the project.

Step 2: Talk to D23.io

Schedule a discovery call with the D23.io team. Come prepared to discuss:

• Your current bordereau process and pain points.
• Your source systems and data architecture.
• Your broker reporting needs.
• Your compliance and audit requirements.
• Your budget and timeline.

D23.io will ask detailed questions about your data, your Lloyd’s requirements, and your team’s technical capabilities. This isn’t a sales call; it’s a technical discovery to understand if D23.io is a good fit.

Step 3: Scoping and Proposal

Based on the discovery call, D23.io will produce a scope document and proposal that includes:

• Data architecture: How D23.io will connect to your source systems.
• Transformation rules: How data will be mapped to Lloyd’s spec.
• Dashboards and extracts: What MI dashboards and automated exports you’ll get.
• Timeline: How long implementation will take (typically 4–8 weeks).
• Cost: The fixed monthly or annual platform fee.
• Support: What support is included (typically email support, monthly check-ins, and quarterly reviews).

Review the proposal with your finance and IT teams. Make sure you understand what’s included and what’s not.

Step 4: Implementation

Once you’ve signed, D23.io will:

1. Set up the platform: Provision a Superset instance in your region (Sydney, Singapore, or London).
2. Connect your source systems: Work with your IT team to set up connectors (API, database, or file-based) to your claims, underwriting, and accounting systems.
3. Build transformation rules: Map your data to Lloyd’s spec and set up validation rules.
4. Build dashboards: Create your bordereau export and MI dashboards.
5. Test and validate: Run test bordereaux, validate against your current process, and make sure everything matches.
6. Train your team: Conduct training sessions for your finance, underwriting, and claims teams on how to use the platform.
7. Go live: Switch to D23.io for your next monthly bordereau.

Implementation typically takes 4–8 weeks, depending on complexity.

Step 5: Ongoing Operations

Once live, your monthly bordereau workflow becomes:

1. D23.io automatically pulls data from your source systems (daily or on a schedule you define).
2. Your finance team reviews the validation report (usually takes 30 minutes).
3. Finance controller approves the bordereau (takes 15 minutes).
4. D23.io automatically exports the bordereau and emails it to your broker, managing agent, and Lloyd’s.
5. Brokers access their MI dashboards in real time; no manual reports needed.

Total time: 1–2 hours per month. That’s a 90% reduction from your current process.

Step 6: Ongoing Support and Optimization

D23.io provides ongoing support:

• Email support: Questions about dashboards, data, or exports.
• Monthly check-ins: Review data quality, discuss any issues, and plan optimizations.
• Quarterly business reviews: Review ROI, discuss new use cases (e.g., new dashboards for underwriters), and plan for scaling.

As your business grows or your needs change, D23.io can add dashboards, connect new data sources, or adjust transformation rules. All on a fixed-fee basis.

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Next Steps and Long-Term Strategy {#next-steps}

Bordereau reporting is table stakes for Lloyd’s coverholders, but it’s also a significant operational burden. D23.io transforms it from a manual, error-prone process into an automated, auditable, scalable operation.

If you’re a Sydney or APAC-based coverholder, here’s what to do next:

Immediate Actions (This Week)

1. Document your current state: Spend 30 minutes noting your source systems, current process, and pain points.
2. Calculate your current cost: How many hours per month do you spend on bordereaux and broker reporting? What’s the labour cost?
3. Reach out to D23.io: Schedule a discovery call to discuss your needs.

Medium-Term Actions (Next 1–3 Months)

1. Run a pilot: Implement D23.io for one broker or one month to test the process.
2. Measure the impact: Track time savings, error reduction, and broker feedback.
3. Plan for full rollout: If the pilot is successful, plan to move all bordereaux to D23.io.

Long-Term Strategy (6–12 Months)

1. Expand to other reporting: Once bordereaux are automated, use D23.io to automate other reporting (premium reconciliation, claims analytics, broker profitability).
2. Build a data culture: Use D23.io dashboards to give your underwriting and claims teams real-time visibility into their data. This drives better underwriting and faster claims management.
3. Monetise your data: If you have brokers or syndicates that want real-time access to your data, use D23.io to offer premium MI services (as discussed earlier).
4. Scale your operation: As your team grows or you add brokers, your labour cost stays flat; your platform cost increases minimally. This allows you to scale efficiently.

Why This Matters for APAC Coverholders

Lloyd’s is increasingly focused on governance and data quality. Coverholders with robust, auditable bordereau processes will have stronger relationships with syndicates and brokers. They’ll also be better positioned to handle audits, queries, and regulatory changes.

For Australian and APAC coverholders, automation is especially valuable because of time-zone complexity and the cost of labour in developed markets. D23.io lets you operate efficiently across multiple regions and time zones, delivering Lloyd’s-compliant bordereaux on time, every time.

The alternative—continuing with manual, spreadsheet-based bordereaux—carries real risk: compliance queries, audit findings, delayed settlements, and lost broker confidence. D23.io eliminates that risk while cutting your labour cost and improving your broker relationships.

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Summary

D23.io’s managed Superset platform transforms bordereau reporting for Lloyd’s coverholders. By automating data extraction, transformation, and export, you reduce labour cost by 70–90%, eliminate discrepancies, improve audit readiness, and deliver real-time MI dashboards to your brokers.

For APAC coverholders, the value is even higher: you can operate efficiently across multiple time zones, deliver compliant bordereaux on time, and scale without adding headcount.

If you’re managing bordereaux manually, it’s time to automate. Reach out to D23.io for a discovery call and see how much time and money you can save.

For more information on bordereau reporting standards and best practices, review the comprehensive bordereaux reporting guide for Lloyd’s coverholders and Lloyd’s official reporting standards. To understand how other coverholders are automating their workflows, see the VCA Software guide to Lloyd’s bordereau reporting and the FileTrac support article on bordereau setup.

For Sydney businesses exploring AI-driven reporting and automation more broadly, PADISO offers AI agency reporting Sydney services that help organisations transform their data and reporting operations. If you’re interested in understanding the broader ROI of AI automation, read PADISO’s guide to AI agency ROI Sydney, which covers measurement strategies and real-world results. For coverholders looking to automate beyond bordereaux, PADISO’s AI automation agency Sydney services can help you extend automation to claims processing, underwriting, and settlement workflows.

For enterprise coverholders and delegated authorities, PADISO’s AI agency for enterprises Sydney and AI agency for enterprises Sydney services provide fractional CTO support and platform engineering for complex, multi-system implementations. Smaller coverholders can explore PADISO’s AI agency for SMEs Sydney and AI agency for SMEs Sydney offerings, which provide cost-effective automation and reporting solutions. If you’re a founder or operator building a coverholder operation from scratch, PADISO’s venture studio and co-build services can help you design and build your data infrastructure from day one.

Ready to automate your bordereaux? Talk to D23.io or PADISO today.