Insurance

Regulation is an important driver for improving an insurance firm’s cash operations. Our InsureTech solutions present a new method of processing cash and automating reconciliations to help insurance companies comply.

Insurance

Solution literature

Introduction

As the FCA continues to ramp up enforcement of client asset compliance, our solution presents a new method of money administration for insurance firms’ clients.

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4 Approaches to Protecting Client Money

The insurance sector adopts different approaches to protecting Client Money. We look at four primary areas:

  • Risk Transfer
  • Statutory Trusts
  • Non-Statutory Trusts
  • Hybrid Model
Segregation of Funds

How Can Cashfac Help?

Our solution can help insurance companies adhere to regulation regardless of approach by providing the following:

  • Account Structure - Automating Receivables
  • Fully-Regulated, Full Service Bank Accounts
  • Client Money Ledger/Client Account
  • Client Money Compliance: Internal & External Reconciliations
  • Pooling & Projecting (Forward Cash Forecasting) for Treasury Management
  • Client Money General Ledger
  • Reporting
  • Hosted and Managed Services
compliance
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