The Hidden Cost of Spreadsheet Bordereaux for MGAs
Many MGAs still prepare bordereaux in Excel. At first, it seems simple. But over time, spreadsheets introduce hidden costs – from staff hours to compliance penalties. Let’s break down the risks.
Error-Prone Process
Copy-pasting data from AMS or carrier portals increases the chance of errors. Even one typo can delay reconciliation or misstate premium.
Compliance Risks
Contracts often require accurate bordereaux on a fixed schedule. Spreadsheets make it easy to miss deadlines or submit non-compliant formats.
Time & Labor Cost
Manual bordereaux can take hours or days every month. That’s time underwriting and ops teams should spend on higher-value work.
The Cost of Missed Revenue
Late or inaccurate bordereaux can delay commission payments, directly impacting cash flow.
Why Automation Wins
- Generating reports directly from live policy data.
- Validating fields automatically.
- Exporting compliant reports on demand.
Frequently Asked Questions
What are the risks of spreadsheet bordereaux?
Errors, compliance issues, delays, and hidden labor costs.
How do spreadsheets impact MGA revenue?
Delays in bordereaux can delay commission payments.
What’s the alternative to spreadsheets?
Platforms like Expert Insured generate bordereaux automatically from live data.
Tired of manual bordereaux reports? Our bordereaux & premium processing solution generates audit-ready reports directly from live policy data, automates reconciliations, and removes spreadsheet headaches.
Need seamless policy workflows? Our policy lifecycle management automates issuance, endorsements, renewals, and compliance so MGAs and carriers can work faster and smarter.
