Insurance Brokerage

QuikSure – Insurance Brokerage Reconciliation

The insurance brokerage industry manually performs multiple activities, such as reconciliation, invoice emailing, and NEFT/invoice reconciliation. 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, such as the inability to cancel in bulk, difficulty tracking NEFT payments, and linking payments to invoices, come in the way. Also, manually sending due payment reminders/escalations is not very efficient. 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 that are not handled in the ERP. It helps establish strong, flexible, and scalable reconciliation processes, an 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 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 go beyond increased efficiency, better compliance, exception handling, and data integrity.

QuikSure Features