Confidently close finance and reinsurance each month and develop accurate net positions
Program and fronting business enables carriers to grow in niche areas and meet the demands of the consumer. However, the complexities in the data provided by each MGA makes it difficult to calculate net positions, close the books each month and provide consistent information to the organisation.
- Manual data preparation creates operational inefficiency and reduces profitability
- Cost to maintain and onboard programs limits ability to grow into new markets
- Converting MGA data into carrier terminology is complicated and prone to errors, reducing accuracy
- Existing data processes create reporting lags that increase costs and reduce profitability
- Complex data makes it difficult to calculate net positions and develop portfolio views