The Account Reconciliation Centre (ARC) takes the pain out of the settlement administration processes. Not only can ARC save your organisation time and money settling your Allianz accounts, but it also improves your debt management and credit control.
Based on market feedback, ARC is a free and user-friendly online solution accessible via imarket that allows the electronic publishing of broker statements. Backed by Allianz and Norwich Union, ARC was developed in conjunction with CGI Europe.
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"ARC has the potential to become an industry wide solution for handling and reconciling broker accounts, making the process far simpler and significantly less labour-intensive for all parties." |
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- Chris Hanks, general manager, Allianz commercial
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Transforming the UK broker/insurer settlement processes
Insurers and brokers using ARC report 40% plus saving in time spent on their reconciliation process.
The collaborative approach that ARC makes possible, improves the business process for both insurers and brokers alike, bringing demonstrable business benefits, including:
- a rapid transition from manual, paper based processes to an efficient, fast electronic flow of information
- improved debt management - ARC enables quick search and sort of all data on all your accounts, reducing manual effort and duplication as all existing accounts are consolidated into a single view
- the capability to achieve more effective use of time by reducing the peaks and troughs of the monthly cycle. ARC's enquiry facilities with comments and audit trail enable the easy interrogation of entries reducing the dependency on an individual
- improved broker/insurer communication leading to quicker query resolution through ARC's system notification of activity on accounts and real-time query handling
- standardisation of process - ARC is an industry solution with consistency of process across all brokers and insurers
- and it's FREE!
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