Morning  Data have released a new facility within NOVUS to automatically process risk, premium and claims bordereaux received from Coverholders. The facility can accept feeds in a variety of formats including CSV and flat text files created from Excel spreadsheets or other Coverholder applications. The risk bordereau feed will automatically validate and create declarations for Lineslips  and off-policies for Binders which are then available for production of outward bordereaux and for automated processing of future premium and claims bordereaux. The premium and claims bordereau feeds can automatically create individual entries in the IBA ledger for each declaration and off-policy giving maximum value to the received data and enabling automated reformatting into the agreed outward bordereau format.
The Document Production allows a Binder or Line Slip production and the same details to be inserted automatically including any appropriate Certificate directly into the Off Policy Proforma Schedule.

This new NOVUS functionality can provide greatly enhanced efficiency of bordereau processing and improve throughput of data between Coverholder, Broker and Underwriters.