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BrokerFlow by Insly is our proposal management software
Our Broker Policy Administration software lets you manage your customers with ease
Insly’s accounting functions include everything you need to reconcile premiums, stay on top of commissions, taxes and fees and allow you to do that in whatever currencies you operate in.
Any data point in Insly can be extracted and analysed. The reporting possibilities range from preconfigured dashboards with bordereaux generated automatically and KPIs to provide API access of all data.
Easily manage all aspects of your premium accounting with robust controls for direct and agency billing.
Multi currency available out of the box. Suitable for single payments and recurring payments alike.
Create Invoice documents and statements in one click or set on full autopilot.
MGAs can provide risk/premium/claim data to their capacity providers in real-time via API or through excel bordereau and easily manage carrier payments.
Insurer setup supports outputs for additional stakeholders e.g reinsurers.
Binding a policy automatically creates financial entries into our insurance-specific double-entry ledger, letting you project your revenue from the moment it’s created, not only at month’s end.
Any data point captured is available for reporting.
Premiums, fees and commissions are taken up per risk allowing you to accurately view risk aggregates at any given time.
Object based reports provide great exposure insights for Property lines and Sales channel reports give you quick overview into distribution channels, GWP, conversion and renewal rates etc.
The addition of Insly Claims allows for easy production of Loss Ratio and Triangulation reports.
Standard Reports are available out of the box and can be modified to meet your needs.
You can also create your own reports or use a BI tool of your choice.
Advanced capabilities include the ability to set up a live db replica for full dataset access.
Manual accounting processes have a natural error margin.
Insly’s accounting module was designed to reduce mistakes or eliminate them completely.
Invoice creation happens automatically from verified policy data – you cannot make a wrong invoice.
The double entry ledger verifies that all entered data is correct, meaning:
Cash recorded on the system is always allocated to a particular (client or partner) balance.
All financial entries are linked to the right account balances, meaning there is no unallocated cash that goes missing.
Prepayment balances + ledger entries to all accounts significantly reduce the headache associated with partially paid and overpaid invoices.
Debt Management features let you reduce the admin via automated reminders and policy cancellation for non-payment.
Having good systems and processes in place is essential to meet regulators’ ever-increasing needs everywhere.
Insly has specific design elements that can support your organisation and open APIs to integrate into dedicated Regtech solutions.
Any action taken by a user in the system or that is automatically triggered by an API is logged and saved for audit purposes.
Any changes on a policy are saved and accessible for audit purposes.
“Ledger principle” means no information in the database is overwritten, but new entries are continuously added to it as new events happen.
Thanks to event based design and ledger principle you can not only view the latest version of a policy, but also go back to any moment in time.
Same goes for premium or claim accounts: any previous state of an account can be recalled to see what the balance was in that moment in time.
Insly can be used as an all-in-one premium accounting and reporting tool for all insurance specific transactions.
For non-insurance transactions (payroll, office expenses, etc) a general purpose accounting software is recommended and for payment processing, we recommend to use a 3rd party payment processor.
Fortunately, there are multiple ways Insly can be used in conjunction with the tools you use today.
Please get in touch with our team to discuss integrations to your existing infrastructure or find out if Insly integrates with your accounting software / payment processor of choice.
If you are taking payments from customers directly, a payment gateway provider can help you collect payments efficiently and securely.
Insly can facilitate integration to your payment gateway of choice, acting as your Source of Truth. A separate configuration may be needed. Contact our team to find out more.
Insly supports integrating into many third-party accounting softwares. However, in some cases, separate configurations may be needed. Contact our team to find out more.
