Premium Collection and Control

Objective
To provide a premium collection and control service that will accelerate cash collection and improve controls for all underwriting years of account.

We undertake to:-

• Accelerate settlement of current outstanding premium and improve the settlement pattern on future premium income
• Recommend systems and procedural improvements that will ensure that risks are accurately recorded and promptly processed
• Provide feedback that will enable premium data to be regularly and accurately updated
• Manage the implementation of agreed recommendations to ensure that the projected profit enhancements are delivered

We understand the insurance marketplace and recognise the market-wide problems that impede timely recording and settlement of premium. We appreciate the needs of our clients and their brokers and work with both to achieve the agreed objectives.

Reporting
We utilise i²blade, our unique insurance software, to develop a suite of bespoke reports

These provide management with:-

• Performance measurement against agreed targets
• Information to support the achievement of business objectives
• Operational information to increase knowledge and awareness and stimulate actions leading to improved performance
• Financial information to enable management to evaluate opportunities to enhance profitability
• Analysis to assist with regulatory and compliance requirements

Benefits
We have a track record of enhancing profitability for our clients and our main
deliverables are:-

• A significant improvement in premium collection performance
• The identification and subsequent collection of unsettled premium for all years of account
• An increase in investment income and/or a reduction in borrowing costs
• The development and implementation of best practice in relation to the recording, monitoring and collection of premiums