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.
Bordereaux arrive in each MGA's own format. Each party keeps its own books, so differences surface at month-end and close by spreadsheet and email. Balances age while the figures are agreed.
In Cork, the party that owns an action records it once, and both sides of every balance work from the same entries.
For MGAs
Your policy system's export goes in as it stands. Cork suggests the column mapping, and your saved mapping reads next month's file the same way. One file can carry business for several carriers: Cork routes each row to its carrier and exports each report in the fields that carrier requires.
Cork matches each file against the policies, premium and claims you filed before, and against the programme's binder. Repeats show as already recorded, changed figures show beside their earlier values, and each fault names its table and row, so you correct it before your carrier queries it.
Upload the wordings, schedules and endorsements of your binding authority agreements for all your carriers at once. Cork sorts them into binders, reads each term with the clause behind it, and asks each open question once until the binder is ready to activate.
Premium and commission with each carrier sit as amounts owed, each tied to its policy and due date. 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, so you can show what you filed and when.
For carriers
Each coverage an MGA files under one of your programmes must fit its binder, and the MGA's authority is checked at every bind. 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 and books each reinsurer's ceded premium.
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, check a reinsurer's statement file row by row, and after you confirm, Cork flags any booked figure that disagrees with a term.
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.
Premium from each MGA, ceded premium to each reinsurer and each recovery carry their source and due date. A recovery books on the day of settlement. You net ceded premium against recoveries, keep an account current with each counterparty, 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 before the carrier joins; when it joins, its records are already in place.
Privacy and settlement
Cork writes a fingerprint of each amount owed to a shared onchain register, never the amount. 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.
AI integration
What is on my Next actions list?
3 reinsurance bindings ready · 1 statement to issue · 2 receipts to confirm
Bind the ready policies.
Proposal ready for your approval in Next actions.
See Cork run on your own bordereaux, binders and treaties.
CORK
