ITC DIA Europe

Carbon Underwriting’s Graphene Studio: No Code Solution Simplifying Bordereaux Processing

Written by Jolijn Schalkwijk on May 24, 2024

Unorganised systems and processes can lead to a broken collaboration chain, causing communication gaps and bottlenecks. There is a high need for tools that don’t require a high level of technical ability, and when such tools are available, they often function like a black box, meaning you don’t have control over how the data is processed.

Carbon Underwriting operates as Syndicate CBN 4747 at Lloyd’s. It uses an open underwriting model where data drives improved underwriting performance, creating analysis and fluidity of portfolio management. This is administered through its in-house technology ecosystem, Graphene.

Over the past five years, Carbon has leveraged AI and augmented underwriting to optimise processes and elevate underwriting performance. Carbon Underwriting’s Graphene Studio is a no-code data integration platform, which allows actuarial, underwriting and data teams to build complex data integration jobs without coding in a few minutes.

Carbon’s team developed Graphene Studio to address the internal challenges faced in processing bordereaux. In a calendar year, roughly 1 bordereau is processed per £15k of premium written. This means 3.5 million bordereaux are processed every year, in the Lloyd’s market alone. As Carbon’s business has grown, the number of bordereaux its team needed to process was growing exponentially. Traditionally, the solution would be to increase operating expenditure to hire more people to build, cleanse and structure the data.

How it works

Graphene Studio is a data quality platform built with Google Cloud, designed specifically to address the challenges of bordereaux processing with a simple drag-and-drop builder. An average user at Carbon spends 3 hours a day using the new platform, and with over 260 bordereaux integration jobs developed in just 2 months, that has saved each user an average of 16 hours a week.

Graphene has grown into a data ecosystem where multiple apps are tapping into a common data model to produce hyper-granule insights, representing a paradigm shift in underwriting technology. Graphene’s no-code toolkit allows the team to design bordereaux ingestion jobs including data cleansing and enrichment.

Why we selected Carbon Underwriting for ITC DIA Europe Amsterdam

Nav Dhuti, Engineering & Innovation Lead at Carbon UW, and Fergus Cooney, Data & Analytics Lead, will demonstrate Graphene Studio’s data integration capabilities at ITC DIA Europe.

They’ll showcase the simple, web-based no-code builder for the first time. Carbon staff and partners already get access to the tool, but they plan to externalise access for the broader insurance market to help improve the efficiency and data quality of bordereaux and reduce operating expenditure across the industry.

Who is Carbon Underwriting?

Carbon represents a dynamic group of like-minded thinkers, from a range of different backgrounds. Nick Tye, Co-Founder and CEO of Carbon, fosters a culture of collaboration and innovation. Laser-focused on merging technology and expertise to drive results, Nick’s role at Carbon is the culmination of over two decades in insurance, leveraging his actuarial background and commercial acumen to enhance every facet of the underwriting process.

Carbon’s holistic understanding of the industry’s distribution chain and technology needs is further bolstered by Jacqui Ferrier, Managing Director and Chief Underwriting Officer, Ben Laidlaw Managing Director, Rupert Atkin, Chairman, and its team of highly skilled professionals. Carbon is well-positioned to continue differentiating through its relentless focus on operational efficiency, technological innovation, and data-rich underwriting. The insurtech innovation embedded in Carbon’s DNA allows adaptation to evolving market dynamics and the seizing of new growth opportunities.

“Graphene is central to Carbon’s strategy, enabling us to challenge industry norms and explore new avenues for growth.”

Nick Tye, CEO, Carbon Underwriting
Amsterdam 12-13 June


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