Automatically reconcile premium finance instalment schedules against policy records and insurer statements — catching discrepancies before they become write-offs.
Insurance brokers handling thousands of premium finance agreements spend significant time each month matching instalment receipts against policy records and insurer statements. Mismatches from mid-term adjustments, cancellations, and commission variations create a reconciliation headache that directly impacts cash flow and profitability.
Finance teams manually compare premium finance provider statements, insurer bordereau, and their own policy records — a process that takes 5-10 days per month for a mid-size broker.
Mid-term adjustments change the premium but the instalment schedule may not update in sync, creating persistent reconciliation differences that are hard to trace.
Without automated commission tracking, brokers miss commission adjustments arising from MTAs, cancellations, and return premiums — directly impacting the bottom line.
Unresolved reconciliation items age into write-offs. Without systematic exception management, items can sit unresolved for months before anyone notices.
Purpose-built capabilities — not generic templates you have to work around.
Match premium finance provider statements against policy records and insurer bordereaux automatically, using configurable matching rules and tolerance bands.
Unmatched items are surfaced with suggested root causes — MTA adjustment, cancellation timing, commission variance — and assigned to the responsible team member.
Track commission earned, adjusted, and received across every policy. Flag commission shortfalls and generate commission statements for insurer reconciliation.
Monitor matching rates, exception volumes, and aged item trends in real time. Drill into specific policies or providers to investigate discrepancies.
Premium finance provider statements, insurer bordereaux, and internal policy records are imported into the reconciliation engine via file upload, SFTP, or API.
The engine applies configurable matching rules to reconcile instalment receipts against expected premiums, allowing for tolerance bands and known adjustment patterns.
Unmatched items are categorised by likely cause — MTA timing, cancellation, commission variance, data error — and assigned to the responsible team member with investigation guidance.
Exceptions are resolved within the workflow, with adjustments posted to the relevant systems. The completed reconciliation is approved and archived for audit.
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SwiftCase ingests statement data from all major UK premium finance providers including Premium Credit, Close Brothers Premium Finance, and Aon Premium Finance. We support their standard export formats and can adapt to provider-specific layouts.
Return premiums are matched against the original instalment schedule and any outstanding balance. The system calculates the net position and flags items where the return premium differs from the expected amount.
Yes. The system handles reconciliation across unlimited insurer and premium finance provider relationships, with separate matching rules and tolerance bands for each.
Every exception resolution is logged with the user, timestamp, root cause classification, and any financial adjustment. This provides a complete audit trail for compliance and financial reporting purposes.
See how SwiftCase automates premium finance matching, surfaces exceptions early, and recovers commission that manual processes miss.
