Markel Insurance has partnered with data management specialist Verodat to improve how it collects, processes and analyses delegated authority data as the insurer continues to invest in data-driven underwriting and oversight.
The partnership will see Markel use Verodat's bordereaux platform to process data from delegated partners and turn non-standardised submissions into more actionable underwriting information.
For Markel, the focus is on improving visibility across its delegated authority portfolio. The platform will help underwriters identify trends, monitor portfolio performance and make more informed decisions while reducing the manual work involved in processing bordereaux.
The move also targets data quality and governance, areas that have become increasingly important as insurers face greater regulatory and reporting demands across delegated business.
Improving data flow between insurers and delegated partners
Markel said the technology should provide faster processing and clearer oversight for brokers and coverholders, while enabling more effective feedback on data quality.
Kate Johnson, director of operations at Markel International, said rising data and regulatory requirements mean insurers need to modernise how delegated data is managed.
“Verodat supports our push for better quality data and more efficient bordereaux processes,” Johnson said, adding that the platform will automate routine tasks and allow Markel's teams to focus more closely on supporting partners as its delegated portfolio grows.
Verodat founder and CEO Thomas Russell said the partnership reflects a broader shift in the delegated authority market away from manual data processes and aggregated reporting that can obscure information needed by underwriters.
The company's platform is designed to maintain traceability from source data through to the insurer's systems. That, Russell said, creates a foundation for governance, reporting and the eventual use of AI.
For Markel, the partnership therefore goes beyond automating bordereaux processing. Better structured and traceable delegated data could give underwriting teams greater visibility into portfolio performance while strengthening oversight across a growing delegated business.
