The same idea, from the broker’s side of the desk.
Most broking software started life as an accounting package with a client list added on afterwards. But the difficult parts of the job today are different: knowing exactly who you are dealing with, matching up the money, and being able to show what you did and when. All three are the same kind of problem, and we built the underwriting side around solving them.
Three problems worth fixing
Knowing who you are dealing with
A name and a firm is not enough to identify someone. The same broker can be registered under several licences and several reference numbers, and all of them can change inside a year. Getting that right matters, because everything else — the commission, the reporting, the record — hangs off it.
Matching the money
Printing the statement is easy. The hard part is checking what actually arrived against what was owed, when everyone in the chain describes the same payment differently. Because it is all in one place here, that check would take minutes instead of a fortnight.
Proof, kept as you go
Which category of client this is, when you sent the required documents, which insurers you approached and what they said. All recorded as the work is done, rather than pieced together from old emails months later when somebody asks.
Software can get everything ready, but only a person should commit to cover.
A system other programs can talk to is worth more than one that only works through its own screens. So the way in and out is published for anyone to use, information goes in as proper fields rather than free text, and the client record can be taken with you.
Where we are up to
This is still being built and is not available yet. We are sitting down with broking firm owners now, on purpose, so it is designed around real businesses rather than our assumptions. If you would like to see what we are planning, just ask.