Run more binders without multiplying operational complexity.
Facio turns each binder's authority, eligibility, underwriting rules and reporting obligations into a controlled workflow — helping coverholders demonstrate how additional authority will be operated.
The buyer situation
For a growing coverholder, every additional binder can create another proposal process, authority structure, referral route and reporting obligation.
If those requirements are coordinated manually, management may understand the operation through experience while finding it difficult to demonstrate that control externally.
Submission records are fragmented, referrals live in email and reporting depends on reconstruction at period-end.
That weakens the case for taking on more delegated authority — even where underwriting expertise, distribution and market appetite are strong.
Our point of view
A binder defines operational permissions: Who may submit, Which risks are eligible, Which decisions are within authority, What requires referral, Who may approve and bind, What information must be reported.
Facio configures those permissions into the workflow itself. The operation therefore becomes evidence of how authority is exercised — not merely a database recording what happened afterward.
Target Operating Model & Transaction Flow
How the workflow works
What this looked like in practice
A growing Lloyd's coverholder
Transformed fragmented binder operations into a controlled model designed to support additional products and authority.
What changes operationally
| Area | Controlled operating model |
|---|---|
| Submissions | Required information follows the applicable binder workflow |
| Authority | Eligibility, limits and referrals are applied consistently |
| Decisions | Human and automated actions remain attributable |
| Issuance | Approved business progresses through defined next actions |
| Reporting | Transaction data remains connected to required outputs |
| Growth | The operating model can be extended to additional binders without recreating every process manually |
Governance and control
Facio can execute the decisions that the approved product and binder rules permit it to execute.
Where authority requires judgment or referral, the decision remains with an authorised person — and both kinds of decision remain attributable and reconstructable afterward.
Frequently Asked Questions
Map Your Binder Operations
In a working session, we map one of your current binders from submission through reporting and identify where authority, decisions and data depend on manual coordination.