Upgrading from the failed promises of bots, RPAs, & offshore consultants
Can you count dollars while making dollars count?
Eventual Treasury Editorial Team
Insurance Brokers are the lynchpin to the 7 trillion dollar global insurance industry - their role in distribution, client servicing, and premium collection (in case of agency billing) is vital. Like any enterprise, Accounting & Finance are two critical functions for running an Insurance Brokerage.
Leaders from these functions are aware that if they don’t do their job correctly, or on time - somebody, somewhere doesn’t get paid in time. That’s a lot of pressure, phew!
And, unlike common narrative, they are constantly on the lookout to improve & finesse their workflows - looking for better Software Vendors, Offshore Labor, and Talent.
- Software: Instead of blazing fast APIs, they got RPA/bots that are expensive, have high maintenance overhead, and work at 1 mile per hour. The biggest downside being the marginal value delivered by bots is scoped to “mindless-data-entry”.
The failed promises of Software Vendors (aka RPA/bots) led Insurance Brokers to offshoring.
- Offshore Labor: When Insurance Brokers tried to augment these mindless bots with offshore humans, they got data entry errors, training, compliance and management overhead across timezones. Now in 2024, even the cost of labor arbitrage is diminishing.The failed promise of offshoring led them to look for more talent.
- Talent: When Insurance Brokers tried to ease the pain with more onshore talent, the whole industry is standing at a critical juncture where on one hand ~40% of Insurance workforce will retire in the next 5 years and the Accounting sector is facing severe talent shortage.
So, what’s next? Should they just burn more midnight oil in stacks of commission statements? Build faster horses (aka bots)? This is what lead us to build Eventual Treasury - purposely & exclusively designed for Accounting & Finance Insurance Brokers with native integrations to your AMS, CRM and ERP systems.Eventual Treasury’s Copilot has 3 key pillars that solves 3 key pain points in 3 simple steps:
Revenue Auto-Reconciliation
Our copilot automatically processes Direct Bill & Agency Bill carrier statements & deposits, applies cash, reconcile policy transactions. No bots, No OTPs, No hassle.
Revenue Recovery
Our copilot automatically identifies shortfalls/underpayments, and assists you in recovering missing commissions and contingent revenue.
Real time Financial Forecasting
Our copilot automatically builds a financial forecasting model with powerful drill-downs & auto-generated insights for your executive team grow your books strategically.
About Eventual Treasury
We take pride in our Revenue Operations Copilot purposely-built for Insurance Accounting Teams. Our Copilot is built on three pillars, the three key revenue workflows of Insurance Accounting - Revenue Reconciliation, Revenue Recovery, and Financial Forecasting.
Now you can close your books in seconds instead of weeks, and have a real time P&L view into your system. Lets count the dollars while making dollars count!