The production of a bordereau report is common within the insurance industry as it provides a summary of transactions (normally monthly). These transactions include information on status, payments, recoveries and reserves, thus ensuring transparency and accurate reporting between parties. In essence, a single version of the truth which is essential, especially with delegated authority arrangements.
The ability to own and automate this process should form part of any technology solution, and this is true of the JCAD claims handling system. Our EDI (Electronic Data Interchange) module allows the bordereau data to be uploaded into LACHS quickly and easily. During the upload process anomalies are identified which can then be manually checked. Currently we offer EDI’s for a number of insurers and brokers including Gallaghers, Zurich, Travellers, and Aon. There is also has a generic file format for other providers to use. This approach enables LACHS to keep a comprehensive claims payment / reserve history – essential with respect to Triangulation and Fund Modelling calculations.
If your technology partner is still forcing you to remain in the dark ages then have a chat with one of our technical consultants to learn more about how LACHS can help you.
