Insurance Broker Accounting (IBA)
Focused Broker Account Management That Unlocks Efficiency and Compliance
Is your Insurance Broker Accounting keeping pace with your business?
Managing and reconciling Insurance Broker Accounting (IBA) is critical to financial integrity and regulatory adherence, yet bureau and non-bureau payments, credit control and cash allocation can stretch in-house teams and leave unallocated funds unresolved.
How Pro Global Helps
Our expert team specialises in efficient end-to-end IBA functions, including bureau and non-bureau premium payments, swift claims payments and compliant cash allocation. From Insurer IBA to Client IBA, we handle insurer IBA transactions, bureau payments, credit control, cash allocation and comprehensive reporting, ensuring smooth operations and regulatory adherence.
Why choose Pro Global for Insurance Broking Accounts?
We handle insurer IBA transactions with precision, managing bureau and non-bureau premium and claim payments while adhering rigorously to credit control standards.
Accelerating premium and claim payments through disciplined credit control, statement rendering and debt monitoring.
We efficiently reconcile and allocate all incoming and outgoing cash, resolving unallocated funds with precision and minimising broker funding.
Our focus on credit control, statement rendering and debt monitoring guarantees compliance and financial integrity across your client accounts.
Invaluable insight into aged debt, top debtors and unallocated cash, empowering informed decision-making.
Unlock efficiencies and compliance in insurance broking account management with Pro, your trusted partner for smooth operations and regulatory adherence.
A Simple Proven Review Process
STEP 1:
Scoping & Transition
We agree the IBA functions in scope, from insurer IBA to client IBA, and plan a controlled transition into our team.
STEP 2:
Processing & Payments
Our specialists manage bureau and non-bureau premium and claim payments to defined timeframes and credit control standards.
STEP 3:
Allocation & Reconciliation
All incoming and outgoing cash is reconciled and allocated, with unallocated funds investigated and resolved.
STEP 4:
Reporting & Oversight
Regular reporting on aged debt, top debtors and unallocated cash keeps you informed and in control.
Client Success Story
Reconciling Open Balances for Brokers
Pro Global addressed open balances for a leading broker, rectifying debts exceeding 365 days and restoring financial stability. Through meticulous analysis and reconciliation involving 7,992 transactions across 101 insurance and reinsurance companies, the project enhanced transparency and trust with insurers. By successfully reconciling accounts and collecting brokerage fees, it established a precedent for robust financial management.
Benefits of Insurance Broking Account Management
- Improved cash management.
- Maintained financial integrity.
- Time and resources saved.
- Optimised capital utilisation.
How we work
- End-to-end IBA functions delivered by a dedicated team.
- Rigorous adherence to credit control standards.
- Comprehensive reporting to support your decisions.
FAQs
End-to-end Insurance Broker Accounting: insurer IBA transactions, bureau and non-bureau premium and claim payments, credit control, cash allocation, client IBA oversight and comprehensive reporting.
Yes. Our team manages bureau and non-bureau premium and claim payments, adhering rigorously to credit control standards.
Our cash allocation specialists reconcile and allocate all incoming and outgoing cash, resolving unallocated funds with precision and minimising broker funding.
Insight into aged debt, top debtors and unallocated cash, giving you the information you need for informed decision-making.
Client IBA oversight, disciplined credit control, statement rendering and debt monitoring maintain financial integrity and support regulatory adherence.
