About LIBRA
LIBRA empowers every stakeholder in the claim value chain. It streamlines processes and reduces administrative tasks.
Robust claims validation. Centralized global loss fund system. Full reconciliation and seamless bordereaux processing. LIBRA relieves insurers, brokers, MGAs, and TPAs of complex regulatory and reporting burdens.
MGAs can focus on policy creation, and TPAs on handling claims efficiently. Brokers have more time to serve customers, and insurers can innovate their services.
The vision of LIBRA is to elevate the insurance ecosystem. Enabling each participant to be more efficient and provide excellent service to customers.
01
One solution for all stakeholders
A unified solution for all stakeholders. LIBRA consolidates all binding authority contract participants onto a single platform.
It provides real-time claims data and reporting for MGAs, TPAs, Brokers, and Insurers. Coupled with alerts and triggers for collaborative actions and updates.
Data is entered once. It is seamlessly processed, offering streamlined reporting, compliance, loss fund management, and reconciliation. Each stakeholder can concentrate on their core expertise. All while preserving a complete audit trail for every claim transaction.
02
Instant claims validation upon entry
Benefit from streamlined claims processing. TPAs and MGAs can submit and validate claims according to binder rules.
Claims are automatically routed to the correct section, account years, and risk codes. Reducing the burden on Brokers and Insurers to validate and reconcile bordereaux.
Access to reporting and compliance tools (including Lloyd's) for a smoother experience.
03
Centralised Loss Funds
Centralized loss fund management in multiple currencies. Insurers have direct control and online access to funding levels.
Loss funds are connected to binder sections for easy reconciliation and quicker top-ups. Consolidation into a unified account and substructure, eliminating the need for separate accounts.
04
"Live" bordereaux available at any time
Immediate validation and direct linkage of claims to loss funds. LIBRA can swiftly process bordereaux right after month-end on behalf of all stakeholders.
Flexibility to generate bordereaux at any time, a fast and error-free process. Ensuring clean and dependable data you can rely on.
05
Automated reconciliation
With claims data validated at source and loss funds directly linked to contracts, LIBRA provides automated financial reconciliation between binder contracts, loss funds and insurer accounting.
06
Regulation & Compliance
LIBRA reporting tools meet global insurance standards of reporting. Loss runs, bordereaux (including Lloyd's V5.2), complaints, coverage issues, and Solvency II. Simplifying adherence to regulatory standards.
Comprehensive financial history and analytical insights for claims management, brokers, underwriters, and actuaries.
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Our Customers include:
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