SchemeServe, a leading UK based Insurtech specialising in insurance schemes software, has gone live with its new integrated accounting function, Digit, saving schemes brokers the cost of extra software and days of administration time every month. It avoids rekeying into other systems or managing the accounting process twice and makes the whole accounting process virtually paperless.
Digit is the only integrated accounting suite on the market to manage real time sub agent reconciliation, avoiding the need for paper statements completely.
The accounting module allows brokers to manage the whole transaction journey from within SchemeServe, from sub-agent reconciliation to insurer settlements and commission transfers, with dedicated ledgers for each, keeping track of transactions throughout the system. With integrated accounting, SchemeServe is now an end-to-end software solution for schemes brokers and MGAs, offering product development and build, administration, quote and buy, claims, MI, full audit trail and reporting, and now integrated accounting.
Adam Bishop, CEO of SchemeServe, comments: “Customers have been asking for us to integrate accounting into our system for a while, so I’m delighted we can now offer this great new module. The time saving for brokers is huge – no more rekeying and duplication of administration time. For some it has saved a full-time accounts person role, plus removing the costs of standalone accounting software. We have a reputation for giving brokers of all shapes and sizes simple access to cutting edge, secure, robust, proven, Insurtech solutions at a fraction of the cost of our competition and in double quick time. We’re delighted with this latest service. It’s no coincidence that SchemeServe works with many award-winning brokers!”