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Enhancing efficiency in IBA processes for a leading insurance broker

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A leading independent insurance distribution platform in the UK faced severe operational friction within its Insurance Broker Accounting (IBA) and creditors processes. Relying on legacy systems and a Business Process Outsourcing team of 200 employees, the firm struggled with manual data preparation and a lack of real-time visibility. This labour-intensive approach required extreme precision and consumed significant resources, hindering the firm’s ability to focus on high-value debt recovery.

AutoRek implemented an intelligent automation solution to consolidate internal and external data. The platform automates premium payment allocations, disaggregates bulk payments, and flags outstanding matches for immediate review.

Read this case study to find out how the leading insurance broker achieved the following outcomes:

  • 75% workload reduction: Eliminated manual data preparation steps, reducing the team’s workload by approximately 75%.
  • Real-time reporting: Provided instant visibility into allocated versus unallocated cash for better decision-making.
  • Streamlined workflows: Automated the distribution of allocated cash items and identified policies for review.
  • Enhanced credit control: Automatically generated and emailed statements to third parties, improving the debtor position.

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