Premium bordereaux reconciliation, with every bordereau line joined to its cash or given a cause
Every difference between bordereau and cash given a cause before settlement.
See one case, screen by screen ↓Matching what a delegate bound (the premium bordereau) against the cash actually received and the broker's statement of account, line by line, and explaining every difference before settlement. Premium Bordereaux Reconciliation does the reading, matching and explaining with six agents; the premium accountant and the head of DA finance decide.
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Every month each delegate sends three things that should agree: the premium bordereau (what it bound), the cash (what actually arrived, often in pieces and in another currency) and the broker's statement of account (what the intermediary says it passed on). They rarely do. Cancellations are netted off the cash, instalments are not yet due, fees ride in with the premium, commission is taken at the wrong rate, a wire lands after the cut-off, and every conversion happens at a different rate from the binder's.
So the premium accountant works it out in spreadsheets, delegate by delegate. One policy paid across four wires at four rates never ties to the bordereau's single figure, so it is parked for later, and later never comes. Unallocated cash sits in suspense, open items age towards write-off, and settlement and the month-end close wait for the hunt to finish.
Estimated split of a month-end close across a carrier's delegates, by hand and with the solution, in days.
Six agents read, join and explain every bordereau line; the premium accountant and the head of DA finance decide.
Cavendale Specialty writes Canadian commercial property through Northbeam Underwriting Managers in Toronto, premium in CAD settled in USD at the binder rate of 0.7255. Here is how its September bordereau closes, screen by screen, in the working solution.
Renata opens the close calendar: every delegate's bordereau, wires and statement against its own binder's terms of trade. Northbeam is 95.0% joined with a settlement for approval, Pelham Cross's bordereau is due Thursday 15 October, and Quillon Risk Partners and Redfern Habitational are 12 days late with August cash.
“A delegate is only called late after its own binder's date has passed.”
The bordereau reader has read Northbeam's 418 lines and tied them to gross CAD 2,825,570.19; the cash reader has split four wires into 412 remittance lines, USD 1,420,064.36; the statement reader has read Marlow Fenwick's statement SOA-MF-2609-NBM. The matcher joins 397 lines across the three columns — 388 one-to-one and 9 many-to-one — and shows the rate on every join.
“397 of 418 joined · 21 in buckets · 0 without a cause.”
Kettle Valley Timber Frame Ltd., NBM-CP-26-04417: net CAD 35,235.00, or USD 25,562.99 at the binder rate. Northbeam paid it in four parts of CAD 8,808.75 on 18 Sep, 25 Sep, 2 Oct and 9 Oct, at 0.7262, 0.7248, 0.7231 and 0.7219 — USD 25,510.14 in all. Four strands converge on one bordereau line and one statement line.
“Inside the 0.75% tolerance. Booked to exchange difference, not chased.”
The 21 lines that did not join fall into tolerance buckets — timing, instalments, cancellations, fees and taxes, commission, unidentified cash — each with its evidence. Ridgeback Cold Storage is short because Northbeam deducted 30.0% commission on gross CAD 61,200.00 instead of the binder's 27.5%: CAD 1,530.00 over-deducted, $1,110.02.
The explainer never calls a timing item a debt before its due date.
A 25 Sep wire of $6,250.00 carries no policy reference, only “NBM 03981 AP”. The explainer reads it as a policy number and suggests Lakeshore Cabinetry's additional-premium endorsement of 28 August — bound and never reported on the August bordereau. At the August rate the endorsement is $6,249.98: two cents, inside the $5.00 tolerance.
Renata reads the evidence and applies the receipt to the August endorsement. The dashed suggestion becomes a solid join, the bucket empties by one, the close bar moves and the audit trail records who did it. Northbeam is asked to report the endorsement on its October bordereau.
“$6,250.00 applied to Lakeshore Cabinetry's August endorsement · Northbeam asked to report it on the October bordereau.”
The differences list holds all 40 open items across delegates, by cause and by delegate. For Northbeam's 21, timing items sit with Tomasz Weller in credit control, the rest with Renata, and each line shows its evidence — “Cancelled flat 22 Sep · notice CN-0922 · nil on the statement”.
The settlement writer drafts the statement of balance: $66,150.24 of difference, less instalments not yet due, cancellations to reverse on the October bordereau and the exchange difference, plus the $6,250.00 applied to August. Timing $38,460.20 plus commission $3,912.50 less fees $2,147.88 is due by Friday 30 October. Renata checks the lines; over $25,000, Imogen Hartley approves.
“Over $25,000 — routed to Imogen Hartley. The writer never sends.”
Aged debt shows $243,743.28 owed across seven delegates by ageing band. Three are past their binder's date: Quillon Risk Partners 74 days, Arden Moor Equine 43 days, Redfern Habitational 12 days. The reminder to Quillon is drafted with the amounts and the terms of trade; Tomasz sends it.
The close checklist shows what is done and what is still open: 40 of 40 differences with a cause and an owner, broker statements reconciled, exchange differences of −$2,378.47 still to book. The pack holds the summary by delegate, the line-level joins, the differences, the settlement proposals, aged debt, the exchange difference journal and the audit trail.
“Signs when every item is done or explained.”
The same September, seen by the four people who carry it — what their month looked like, and what it looks like now.
Six agents read, join and explain every bordereau line; the premium accountant and the head of DA finance decide.
Reads each delegate's premium bordereau, in any layout, into standard fields — policy reference, insured, transaction, gross premium, commission, taxes and fees, net premium, currency — and ties the lines to the totals.
Reads bank wires and remittance advices into allocatable pieces with reference, date, currency and the rate each wire got.
Reads each broker's statement of account into lines: what was received, when, and what was passed on, marking nil lines and items in transit.
Joins bordereau, cash and statement line by line — one-to-one and up to six part-payments to one line — at the binder rate, showing the rate used on every join.
Gives every unjoined piece a cause — timing, instalments, cancellation, fees and taxes, commission, unidentified — with its evidence and a suggested pairing.
Drafts the settlement proposal per delegate, the aged-debt list and the reminders, and routes them for approval.
Accepts pairings · head of DA finance signs. The agents propose; a named person decides.
Ask about a join, a difference, a settlement or a late delegate in plain words — every answer cites the bordereau line, the remittance advice, the broker statement or the binder.
Why does Kettle Valley Timber Frame show a $52.85 difference?
Northbeam paid it in four parts of CAD 8,808.75, each converted on its wire day: 0.7262 on 18 Sep, 0.7248 on 25 Sep, 0.7231 on 2 Oct and 0.7219 on 9 Oct — USD 25,510.14. The bordereau line is CAD 35,235.00 at the binder rate 0.7255 = USD 25,562.99. The $52.85 (0.21%) is inside the 0.75% tolerance, so it is booked to exchange difference, not chased.
What does Northbeam owe us for September?
$40,224.82, due Friday 30 October under binder 24.4: $38,460.20 of premium in transit on 6 lines, $3,912.50 of commission deducted at 30% instead of 27.5% on 2 lines, less $2,147.88 of fees that came with the cash. Instalments ($21,906.75) and cancellations ($9,184.30) are not owed yet. It is over $25,000, so Imogen Hartley approves it.
Which delegates are late with cash?
Three. Quillon Risk Partners: $84,210.55 for August and $3,120.00 for June — 74 days past its binder date. Arden Moor Equine: $12,904.10 for July, 43 days late. Redfern Habitational: $31,440.00 for August, 12 days late.
Where does the unidentified $6,250.00 belong?
Most likely to Lakeshore Cabinetry's additional-premium endorsement of 28 August, NBM-CP-26-03981-E1: net CAD 8,583.99 at the August rate 0.7281 is $6,249.98. The wire reference “NBM 03981 AP” is that policy number. It was never on the August bordereau, so Northbeam should report it on October's.
13 screens from the working solution, on its sample data. Pick one to see it large.
Tolerances, matching rules, terms of trade and who approves are settings. Changes go to the head of DA finance as a draft.
| Setting | Default | Choose from |
|---|---|---|
| Amount tolerance per line | $5.00 | Any amount — differences up to it join and are written off |
| Exchange tolerance | 0.75% of the line | Any share of the line |
| Many-to-one joins | On, up to 6 pieces | On · Off |
| Matching keys | All four | All four · Reference and amount |
| Settlement rate | Binder month-end rate | Binder month-end rate · Rate on the wire |
| Terms of trade | Bordereau 15 days, cash 30 days after month end | Defaults — each binder can override |
| Settlements approved by the head of DA finance over | $25,000 | Any limit |
| Agents may send | Off | Settlements and reminders are always sent by a person |
Every figure is labelled: a target the solution is built to, an estimate, a typical published result, or a proven one.
“demo” = seen in the working solution, on its sample data · “target” = the design goal, measured in the live solution · “estimated” = our estimate · “typical” = published figures (Peakflo, MGA finance automation 2026: 10–15 business-day close, vendor figure; Conning, MGA study 2026: US MGA premium $128bn in 2025). People, companies and policies named on this page are fictional — characters and sample data in the working solution.
Matching what a delegate bound (the premium bordereau) against the cash actually received and the broker's statement of account, line by line, and explaining every difference before settlement. Premium Bordereaux Reconciliation does the reading, matching and explaining with six agents; the premium accountant and the head of DA finance decide.
The matcher joins up to six part-payments to one bordereau line and converts at the binder month-end rate, comparing it with the rate each wire got. Inside the exchange tolerance — 0.75% of the line by default — the difference is booked to exchange difference; outside it, the line becomes a difference for a person.
They drop into tolerance buckets — timing, instalments, cancellations, fees and taxes, commission, unidentified cash — each with its cause, its evidence and, where one exists, a suggested pairing. The premium accountant accepts or rejects each one.
It suggests a pairing from the evidence. In the working solution, a $6,250.00 wire referenced only “NBM 03981 AP” is matched to an additional-premium endorsement missing from the previous month's bordereau. Cash is never allocated until a person accepts the pairing.
No. The settlement writer drafts the settlement proposal and reminders; a person sends them. Settlements over $25,000 are approved by the head of DA finance first. Agents never post to the ledger, and any write-off above the line tolerance is a person's decision.
Yes. Amount and exchange tolerances, matching keys, the settlement rate, terms of trade per binder, reminder days and the approval and write-off limits are all settings, and changes go to the head of DA finance as a draft.
Yes. The premium accountant accepts every pairing and difference, the head of DA finance approves settlements over the limit, write-offs and the month-end pack, and every agent step and human decision is on the audit trail with who and when.
The Agentic Solution Engine builds and deploys it from your requirements and documents — your binders, terms of trade and a month of bordereaux, wires and statements — and it goes live once every quality gate has passed.
Every bordereau in your layout on arrival, each rejected row with its reason.
1-min demoBinding Authority ComplianceBreaches flagged the day the risk is bound, not months later at audit.
1-min demoBinder Guidelines SearchFewer needless referrals, and every answer shows the clause that decides it.
1-min demoWe'll run Premium Bordereaux Reconciliation on a month of your own bordereaux, wires and statements.