Insurance Brokerage

QuikSure – Insurance Brokerage Reconciliation

The Insurance Brokerage industry performs multiple activities such as reconciliation, invoice emailer, and NEFT/Invoice reconciliation manually. This results in a loss of efficiency and revenue by blocking the best talent in manual activity, which could have been used for creative and productive work. The industry faces a lot of challenges during reconciliation due to various reasons, including but not limited to:

Challenges faced by Insurance Brokerage Industry

Differences in the policy number issued against the policy number showing up in the statement

Difficulty in tracking policy cancellations and reconciling them with the ERP

Payment received in multiple transactions

Multiple bookings

Inability to add tolerance

Tracking of exceptions until closure

Performing and tracking forceful reconciliations

Lack of custom reporting

In addition, multiple other issues come in the way, such as the inability to cancel in bulk, difficulty tracking NEFT payments, and linking payments to invoices. Also, sending due payment reminders/escalations manually is not a very efficient process. The needs of the hour – a tool that makes it easy for insurance brokerage firms to carry out reconciliations smoothly.

QuikSure is a solution designed specifically for the brokerage industry to overcome many day-to-day challenges which are not handled in the ERP. It helps establish strong, flexible, and scalable reconciliation processes, invoice mailer, invoice/NEFT reconciliation, and many more features leveraging best practices and technology within a single integrated solution.

QuikSure features flexible and configurable reconciliation mapping rules and integrates seamlessly with any ERP software. Extensive reporting, audit logging, and maker and checker for exceptional activities are some of the other prominent features of this versatile tool. The benefits of QuikSure are aplenty that go beyond increased efficiency, better compliance, exception handling, and data integrity.

QuikSure Features