Unallocated Cash
Streamline Your Operations and Maximise Your Business Potential
Are you grappling with unallocated, unmatched or unreconciled cash?
This financial challenge is a common pain point for underwriters, reinsurers and brokers. It is complex, long-standing and can have far-reaching consequences for your business. Managing unallocated cash is not just good business practice; it is also a compliance requirement.
How Pro Global Helps
If stretched resources and a shortage of experienced staff are leading to unallocated cash issues, Pro is here to help. We offer a unique outsourcing solution tailored to the (re)insurance industry, with expert teams worldwide renowned for tackling complex issues across underwriting support, broker services, claims management, technical accounting, and regulation and compliance. Our mission is to help you take control of your unallocated cash, streamline your operations and maximise your business potential.
Why choose Pro Global for Unallocated Cash?
A unique outsourcing solution tailored to the (re)insurance industry, bringing clarity and operational efficiency to unallocated cash and to technical and procedural cash management issues.
Worldwide specialist teams with over 30 years’ experience providing expert-led (re)insurance solutions to global insurance groups, major reinsurers, Lloyd’s syndicates, top brokers and global P&C companies.
Our approach is designed to improve the use of new technology and optimise efficiency while minimising disruption to your core business.
A specialised team equipped with technical accounting expertise and access to insurance consultancy, transition and transformation services for complex problems.
We can structure teams with Project Management, ensuring quality monitoring, performance and the efficient resolution of unallocated cash projects.
Pro is the trusted outsource partner for global insurance groups, major reinsurers, Lloyd’s syndicates, top brokers and global P&C companies, with a proven track record of bringing clarity and operational efficiency to unallocated cash.
A Simple Proven Review Process
STEP 1:
Assessment & Scoping
We review your ledgers and cash positions to establish the scale of the unallocated cash challenge and agree the objectives and approach.
STEP 2:
Team Structure
We assemble a specialised team with technical accounting expertise, strategically located and supported by project management where needed.
STEP 3:
Reconciliation & Allocation
Our teams work methodically through unmatched and unreconciled items, drawing on industry knowledge and technology to resolve them efficiently.
STEP 4:
Reporting & Control
Clear progress reporting and quality monitoring keep you in control, with recommendations to prevent unallocated cash building up again.
Client Success Story
Reconciling six legacy ledgers
Our client had six legacy ledgers with considerable values and volumes of unallocated cash.
“Our approach involved drawing on resources from across the business, strategically located, to tackle the challenge of reconciling six legacy ledgers with significant amounts of unallocated cash.”
What you can expect
- Clarity and operational efficiency across unallocated, unmatched and unreconciled cash.
- A specialised team with technical accounting expertise and access to consultancy, transition and transformation services.
- Better use of technology with minimal disruption to your core business.
- Project management with quality monitoring and performance reporting.
- Compliance assurance alongside good business practice.
FAQs
Cash received that has not been matched, allocated or reconciled against the relevant premium or claim transactions. It goes by several names, including uncorrelated, unmatched and unreconciled cash.
Beyond tying up funds and distorting financial positions, managing unallocated cash is a compliance requirement, so unresolved balances create regulatory as well as operational risk.
Underwriters, reinsurers, brokers, intermediaries and MGAs across the insurance market, including global insurance groups, Lloyd’s syndicates and P&C companies.
As an outsourced solution tailored to the (re)insurance industry, using specialist teams located strategically around the world and structured with project management where required.
Yes. Alongside resolving existing balances we address the technical and procedural cash management issues that cause them, and can support transition and transformation of your processes.
