Common questions about BBNET.

BBNET is the settlement layer for intermediated insurance: a coordination layer built for MGAs, brokers, and carriers that moves reconciliation, reporting, and settlement onto a shared record, where they are byproducts of the transaction rather than manual downstream work. BBNET replaces spreadsheets with integrated workflows for premium collection, reconciliation, bordereaux reporting, and claims.

Bordereaux automation means automatically generating carrier reports (bordereaux) when premiums are received, eliminating manual data compilation and formatting. BBNET generates BDX in your carrier's required format as a byproduct of the shared ledger.

Payments from multiple sources (bank feeds, email, PDF, and manual entry) are automatically matched to policies using AI with confidence scoring. Discrepancies are flagged for human review before confirmation, turning days of work into seconds.

BBNET processes broker remittance PDFs, emails, insurance slips, and CSV imports using AI-powered document extraction. The system learns from corrections and improves accuracy for each broker over time.

BBNET is built for MGAs, insurance brokers, and capacity providers (carriers) who want to automate premium collection, payment reconciliation, bordereaux reporting, claims management, and settlement.

BBNET supports all major delegated authority structures including binding authorities, lineslips, open covers, facilities, consortiums, and reinsurance arrangements, with multi-party participant tracking and line percentages.

Yes. BBNET provides full claims lifecycle management from first notification through reserve management, approval workflows, authority controls, and multi-party settlement.

BBNET is risk type agnostic. Property, liability, marine, aviation, cyber, or any other class of business. Stamp duty and tax calculation is jurisdiction aware and applied automatically.

A bordereaux (plural: bordereaux) is a detailed report sent from an MGA or coverholder to a carrier, listing all policies bound, premiums collected, or claims incurred under a delegated authority. Bordereaux are typically produced monthly or quarterly and are essential for carriers to monitor their exposure and track premium flow.

Delegated authority is an arrangement where a carrier grants an MGA, coverholder, or broker the authority to underwrite policies, bind coverage, and sometimes handle claims on the carrier's behalf. Common structures include binding authorities, lineslips, and open covers. The party with delegated authority must report back to the carrier via bordereaux.

An MGA (Managing General Agent) is a specialised intermediary that acts on behalf of insurers to underwrite and manage insurance programmes. MGAs typically have delegated authority from carriers to bind policies, collect premiums, and sometimes handle claims. They operate between brokers and carriers, providing underwriting expertise in niche or specialty lines.

MGAs collect premium through brokers who remit payments on behalf of policyholders. The process typically involves the broker sending a remittance advice listing which policies the payment covers, the MGA matching the payment to outstanding policies, splitting commissions, and then settling the net premium with the carrier. This process is traditionally manual and spreadsheet-based, which BBNET automates.

Bordereaux automation requires a shared record of policies and premiums that all parties can reference. When premium is received and matched to a policy, the bordereaux entry is generated automatically in the carrier's required format. BBNET achieves this by treating BDX as a byproduct of the shared ledger. When a transaction is confirmed, the report writes itself.

Insurance payment reconciliation involves matching incoming payments from brokers to outstanding policies, verifying amounts against expected premiums, splitting commissions, and flagging discrepancies. Traditionally done manually with spreadsheets, AI-powered reconciliation software like BBNET automates this by ingesting payments from multiple sources and matching them with confidence scoring.

Insurance payments, reconciliation, and reporting have traditionally been handled as separate manual processes after the transaction. Coordination infrastructure means the transaction itself triggers all of those downstream events automatically, so reconciliation and reporting are byproducts of the ledger, not separate work. BBNET is built on this principle.

Yes. All workflows on BBNET are accessible via structured API: payment ingestion, ledger queries, reconciliation status, bordereaux generation, and settlement. This means BBNET can be integrated into your existing systems, and is designed to support programmatic and agentic execution as those workflows mature in your organisation.

A shared ledger in insurance is a single authoritative record of transactions accessible to all parties in a distribution chain: the MGA, the brokers remitting premium, and the carrier receiving settlement. When all parties work from the same ledger, reconciliation becomes automatic because there is no discrepancy between records to resolve. BBNET operates as a shared ledger for the intermediated insurance market.

MGA payment infrastructure refers to the systems and coordination layer that handles premium collection, payment matching, commission calculation, and carrier settlement on behalf of a managing general agent. Most MGAs currently manage these functions manually or across disconnected systems. Purpose-built MGA payment infrastructure automates the full payment lifecycle as a byproduct of the shared transaction record, eliminating reconciliation failures before they occur.

Delegated authority settlement is the process by which an MGA or coverholder calculates and remits net premium to a carrier after deducting commissions, fees, and claims payments. Under a binding authority or lineslip, the MGA collects premium from brokers, holds it in trust, and periodically settles with the carrier. This process is traditionally manual and error-prone. On BBNET, settlement is computed in real time from the shared ledger as premium is confirmed, so carriers see accurate exposure data immediately rather than waiting for quarterly bordereaux.

AI agents in insurance payments are autonomous systems that execute payment workflows, reconciliation decisions, and settlement instructions without manual intervention. For agents to operate reliably in this context, they need a transaction layer with structured APIs, deterministic settlement logic, and an auditable shared ledger they can query and write to. BBNET is designed to serve as this infrastructure layer: every workflow (premium ingestion, payment matching, bordereaux generation, settlement) is API-accessible and built for programmatic execution.