Tokenized Risk Infrastructure · Delegated authority
MGAs report once to every carrier and know what they owe and are owed. Carriers take in each MGA's business, cede it through their treaties and track every amount, in one record they control.
How it works today
In Cork, each party records its own actions once. Everything that follows, from cessions to statements, comes from those same entries.
For MGAs
1 · Import
Upload the wordings, schedules and endorsements of your binding authority agreements for all your carriers at once. Cork sorts them into binders and reads each term with the clause behind it, asking each open question once.
Your policy system's export goes in the same way. Cork suggests the column mapping, a saved mapping reads next month's file, and one file can carry business for several carriers: each row routes to its carrier.
2 · Reconciliation
Cork compares each new file with what you filed before and with the binder, before anything reaches your carrier. Each row lands in one of four states, and each fault names its table and row.
3 · Carrier reports
Set up each carrier's format once, from its template, its instructions, an accepted example or the reporting terms in its binder. Cork lays out the tables and headings and proposes where each value comes from, citing its source. An example is checked cell by cell, and each version applies from the date you choose.
Each month, choose the format and the period. Cork shows the rows and totals before anything is issued, and lists what the carrier requires that your data lacks, such as a postcode or a peril code. You complete it once on the policy, and every format reads it. Reports issue as Excel, CSV or JSON with a reference and a revision, and your carrier accepts or queries that exact revision in Cork.
4 · Balances and record
Premium and commission with each carrier sit as amounts owed, each tied to its policy and due date, with balances by age. You net them, report payments with a reference and prepare a statement for any cut-off date.
Each signed filing stays in a log with its items, source files and mapping, and any later change to an earlier filing shows. You can show what you filed and when, at audit and at renewal.
For carriers
1 · Intake
Each coverage an MGA files under one of your programmes must fit its binder, and the MGA's authority is checked per policy and in aggregate at every bind. Binders you agree to show each term beside its clause, and no change applies without your approval. For each policy, Cork shows the layers that match each coverage and any hold. Bind one policy or a batch of 200, and Cork cedes each coverage through the tower.
2 · Treaties
Drop the wording, slip and addenda under Reinsurance. Cork finds the programme they update and drafts the layer terms, each linked to the page and clause behind it. You back-test the terms against booked business and check a reinsurer's statement file row by row. After you confirm, Cork flags any booked figure that disagrees with a term.
3 · Exposure
The map shows each programme, treaty and reinsurer with its bound liability. The Overview shows your retained limits, the reinsurance protection remaining, each programme's capacity and your limits by peril. Cork holds a reinsurance bind that would pass a programme or layer aggregate cap.
4 · Cash and reports
Premium from each MGA, ceded premium to each reinsurer and each recovery carry their source and due date, with balances by age. A recovery books on the day of settlement. You net ceded premium against recoveries and close each month on a statement. Period reports give your ceded business and retained position in each reinsurer's format.
When counterparties join too
Each party sees only its own part of the programme ledger. When a counterparty also works in Cork, you both see each amount owed as it arises, and a statement that one side issues and the other signs closes the balance.
Reinsurers can check a carrier's cession reports against their own treaty, row by row, before the carrier joins. When it joins, its records are already in place.
AI integration
Cork ships a standard MCP server. Your AI logs in as your firm, sees what your firm sees, and takes on the monthly bordereau, batch reinsurance binds, receipts, statements and the actions waiting on you.
Install Cork and connect it to this AI tool as an MCP server. My Cork folder is <absolute path of the Cork folder>. Log in as my party in propose mode, register a local (stdio) MCP server named cork-insurance that runs node <Cork folder>/agent/bin/cork-ins-mcp.mjs, then call ins_whoami and tell me my party, role and mode, and how many actions wait on me.
Privacy and settlement
Cork writes a fingerprint of each amount owed to a shared onchain register, never the amount itself. Each party can prove its entries against it. Amounts can settle in a dollar-backed token, where the payment itself clears the amount, and collateral stands behind what each party owes.
Each figure entered once
The MGA binds and files, the carrier binds the reinsurance, and the claims administrator records each settlement. Cork works out ceded premium, commission, reinstatement premium and recoveries from the terms, and every amount names the policy, layer, claim or amendment it comes from.
See Cork run on your own bordereaux, binders and treaties.
CORK
