Total Objects launches flagship BinderCloud bordereau solution in the USA

London - 30 March 2012

Total Objects, a leading software solutions provider to the London and global insurance markets, has launched BinderCloud Service into the USA. The American Association of Managing General Agents (AAMGA) Automation & Technology Conference in Atlanta, Georgia played host to this month’s announcement of Total Objects US expansion and featured attendees from across the American insurance industry as well as the major London players of the US binders business.

BinderCloud increases the speed and accuracy of data sharing between coverholders, Lloyd's brokers, and underwriters with straight through solutions for bordereau processing. It solves the challenges of handling bordereau data such as proprietary formats, multiple spreadsheets, large volumes of data, and potentially incomplete risk data. Backed by Total Object’s London Market expertise, BinderCloud offers the benefits of a managed service: economies of scale, centralised services, enhanced security, worldwide availability and more.

Vitaly Sergeev, BinderCloud Director at Total Objects, says:

“BinderCloud will help our Clients, London Brokers and Carriers to satisfy the demand for better service and strengthen their relationships with American MGAs. It was a logical step for us to announce the launch of the BinderCloud in the US.”

Sergeev continues:

“The benefits of BinderCloud are there for all to see, especially with the growing market - with ever more data to be processed and greater financial pressures demanding better risk management and modelling. BinderCloud was developed with these business challenges in mind and we are confident it will satisfy the need for better capacity management by London Carriers while at the same time delivering significant cost savings for US MGAs and allowing Brokers to provide better service to the London Market.”

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