LAKE Solutions for Insurance

Insurance

Meeting challenges facing the finance team in Managing Agents, Syndicates, Intermediaries and Brokers

In a dynamic sector, where competition is fierce and compliance is paramount, most finance teams spend more time than they would like wrestling with spreadsheets and reacting to queries.

LAKE solutions based on Infor SunSystems release you from the routine cycle of accounting and reporting to help you streamline and improve financial control.

  • Comprehensive Insurance industry analysis by Policy, Claim, Line of Business, Department, Branch, Broker/Agent, etc.
  • Automate the publication of reports in any number of formats, including management reporting packs, in minutes rather than days or weeks
  • A financial management solution tightly integrated with leading systems for claims and policy management
  • Support the multi-faceted nature of broking transactions with real time update across multiple ledgers and support financial management processes in insurance brokerage
  • Manage cash flow. "Pay-as-Paid" functionality only releases funds to a carrier or client when they have been received from the other party. Equally, claims are only settled to the client when funds have been collected from the carriers/underwriters who are bearing the risk
  • See the carriers to whom you owe money for premiums, and from which carriers money is due for claims. Similarly, carriers can see their position with each client, using our "Principal to Principal" functionality
  • Produce broker statements in user definable formats
  • Post in and report on transactions in any currency
  • Full consolidation of separate ledgers for group/company reporting
  • Provide management with insightful management reporting, analysis and forecasting
  • An integrated management information system which allows you to drill into all your finance information - right through to transaction detail
  • Comply with all external reporting requirements


TwitterLinkedinYouTubeGoogle Plus