Every bordereau row checked against your authority and the policies you bound, before it goes out.

Today someone exports the month's binders, policies, endorsements and cancellations from your management system, lays them out in the carrier's or Lloyd's columns, and checks them by hand. Is every bound policy on the report? Is each risk inside the classes, limits and territory the authority allows? Do premium, commission, taxes and fees agree with the policy? Whatever they find is fixed or explained before the report is signed and sent.

In the proof of concept, AI reads the binding authority, the bound policies and your draft bordereau, then writes an exceptions list: each row with its problem, the clause or policy page behind it, and the likely fix. It changes nothing in the report and sends nothing. Your reviewer, the person on your team who prepares or signs off the most bordereaux, compares that list with the corrections your team really made.

Start with the contract. The NAIC's model Managing General Agents Act has an MGA render accounts detailing all transactions to the insurer at least monthly, and expects the contract's underwriting guidelines to set a maximum annual premium volume, the basis of the rates, the types of risk, maximum limits, exclusions, territorial limits, cancellation provisions and the longest policy period allowed. The insurer must review the MGA's underwriting and claims work on site at least twice a year. Each of those terms is something a bordereau row can break, so the draft reads your authority first and turns every clause into a check.

For Lloyd's business the layout comes from Lloyd's Coverholder Reporting Standards, Version 5.2, the version Lloyd's still lists. Fields shown in red must always be reported; yellow ones apply only to some classes or territories. A report names its contract by the UMR, the unique market reference, or by the agreement number when the coverholder doesn't know it, and a multi-section agreement needs its section reference. Policies belong to the agreement's year of account, not the year they were issued. Each row gets a transaction type: new, renewal, endorsement when money changes, amendment when nothing financial does, or reinstatement. Gross written premium goes in before taxes and fees, leaving out instalment charges and any terrorism premium or fee shown as a separate transaction.

US rows carry extra rules. When premium is in US dollars or the coverholder is based in the US, each risk takes a US classification, and a surplus lines risk that is exempt from tax is still classed as US surplus lines, never as Exempt. Surplus lines rows need the surplus lines broker's name, address and license number and the state of filing. North Carolina brokers enter the letters SSN or FEIN instead of a number, and a New Jersey filing needs the 14-character transaction number from the broker who filed it. Lloyd's doesn't ask for US taxes a surplus lines broker pays and reports, yet tax information that is missing or wrong where it is required gets the policy rejected.

The report also has to agree with state filings. From July 1, 2026, Florida's Surplus Lines Service Office requires the UMR on every filing where Underwriters at Lloyd's, London is the insurer. Its bulletin says the number is on the declarations page, sometimes labeled Authority Reference Number or Contract Number, has at most 17 characters starting with B and four digits for the Lloyd's broker, and goes in even when it matches the policy number. New Jersey asks surplus lines producers to file each binding authority agreement and its amendments with its surplus lines office, by email since July 2024. Illinois has surplus line producers report and pay tax twice a year, by February 1 and August 1, with a separate fire marshal tax report each February. So the draft compares tax and fee columns with the filing records you send. None of this is legal or tax advice.

Your reviewer will look hardest for the misses that cost most later: a policy bound in the month that never reached the report, an endorsement sent as an amendment although premium moved, a risk beyond the authority's territory or limits with no referral on file, a cancellation with no return premium row, and written premium for the year running toward the annual cap. Each exception names the row, the clause or policy page, and what would clear it.

With your reviewer's yes, the next month-end goes through the same check, for about 30 days.

A person on your team signs off every bordereau. The AI never edits or submits a report, never files with a stamping office or a regulator, never pays a tax, and never contacts a carrier, a syndicate, an insured or a retail agent. Your staff decide which exceptions to fix, explain or refer.

Live reports are judged by the same reviewer, on the criteria set for the test.