Insurance Broker Accounting (IBA) is central to how brokers operate. It supports financial stability, regulatory compliance, and accurate reporting across client funds, insurer settlements, and commissions.
But for many brokers, IBA is still heavily manual. Processes are often fragmented, hard to manage, and even harder to scale.
Large transaction volumes, inconsistent data formats, and complex reconciliation rules make IBA far more demanding than standard finance processes. Many teams rely on manual workarounds, which increases cost, slows things down, and limits capacity.That’s where automation makes a difference.
By automating IBA processes, brokers can reduce manual effort, bring consistency to their data, and gain the control and visibility needed to operate more efficiently. The result is faster processing, stronger financial oversight, and more time to focus on higher-value work.
In this guide, we show how AutoRek helps insurance brokers modernise IBA using intelligent automation, built on decades of industry expertise.
What you’ll learn
You’ll see how AutoRek supports four key areas of IBA:
Cash posting and allocation
Automatically reconcile and allocate payments at policy level, reducing manual effort and improving visibility of outstanding balances.
Insurer statement reconciliation
Standardise data from any format, apply flexible matching rules, and resolve discrepancies faster with a clear audit trail.
Bordereaux reconciliation and financial controls
Bring together and reconcile risk, premium, and claims bordereaux to improve data accuracy and strengthen financial control.
CASS 5 compliance
Automate client money calculations, reconciliations, and record-keeping to maintain compliance and reduce operational risk.
With the right automation in place, brokers can:
- Spend less time on reconciliation
- Improve control over client money and financial data
- Increase capacity without adding headcount
- Strengthen compliance and audit readiness
- Gain real-time visibility across IBA processes
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