LAKE Solutions for Insurance

Insurance

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

Competition... regulation... business change... the pressure on the finance team is at an all time high. In too many cases, finance systems hamper initiatives to streamline and improve financial control.

LAKE combines sector expertise with market-leading SunSystems software to help you meet challenges.

  • 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


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