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Get to grips with complex cashflow


In such a difficult market, it is imperative that your business stays on top of its cashflow accurately and efficiently.

It is equally important that your firm’s business writers are paid in the same manner. Ensuring staff are paid on time, which can result in staff satisfaction and loyalty, is key to a successful business.

The nature of our industry brings complex income sources, initial commission, renewal commission, proc fees and clawbacks.

To handle these manual tasks and chase missing or incorrect commission, firms often employ teams of people. Most systems require manual line matching on a line-by-line basis. But can your business afford to spend time on such an arduous task?

Instead, your business could benefit from an automated commission reconciliation system. Acquiring such a system that can automatically reconcile all your expected commissions, can be a blessing. It ensures staff and introducers are paid quickly and that the commission and payment runs are carried out efficiently.

In cases where commissions don’t match expected levels, some systems can recognise such shortfalls and allocate commission appropriately, highlighting it as an exception in reporting.

Putting in place state-of-the-art technology that shows that you are in control of your business and remuneration, while providing you with comprehensive management information at your fingertips, is a must.


Ian Moffatt

The pricing model must be right

The behaviour of consumers has changed in the downturn so insurers must adapt their pricing strategies and become more like solutions providers, says Ian Moffatt, president and chief executive officer for Europe, Assurant Solutions

Rethink: industry objections to Treasury’s original proposals for regulation in the private rented

And officials have their eye on change in the buy-to-let sector too

Proposals on changing the form of the buy-to-let market are to be explored, according to the Treasury.It’s report entitled Mortgage Regulation: Summary of Responses states that the government will examine how to ensure the effect of regulation on the buy-to-let market is proportionate, particularly with regard to individual professional landlords. Further consultation on any changes […]

Professionals may escape the regulatory net

Professional landlords could be exempt from buy-to-let regulation under government plans to review how the sector will be regulated. The Treasury plans to extend the Financial Services Authority’s remit to include buy-to-let mortgages and launched a consultation last December to find out what the industry thought of the proposals. The Treasury has now published its […]

Post Office plans to take banking to the heart of communities

Business secretary Lord Mandelson has announced an expansion of the financial services offered by the Post Office, including a range of mortgages. The Post Office will offer a 90% LTV mortgage product aimed at first-time buyers. It will also increase its lending substantially, aiming to double the value of its mortgage book in the financial […]


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