For MGAs and managing agents
MGA software that keeps every capacity provider's book separate.
Managing general agents write on behalf of insurers and reinsurers. SARBOnline keeps each capacity provider's premium, claims and commission in its own accounts, while your team works on one set of risks.
What an MGA needs from its system
An MGA answers to several capacity providers at once, each with its own limits, commission terms and reporting dates. Errors in allocation are expensive, and so is a late bordereau.
- Capacity providers as parties: each insurer or reinsurer with its own commission, sliding scales and statement periods
- Risks written once and allocated to the right capacity, with shares where business is split
- Bordereaux produced per provider and per period, or imported from Excel where coverholders report to you
- Premium and claims statements of account per provider, in original and base currency
- Renewals dashboard so no binder or programme expires unnoticed
Accounts your capacity providers trust
SiFAMs, the accounting system built into SARBOnline, keeps fiduciary premium separate from your own income. Commission is recognised as it is earned, and balance confirmations go to each provider straight from the system.
Controls for delegated authority
Underwriting authority, referral rules and approvals are recorded on the risk. Every change carries a user and a timestamp, which is the audit trail capacity providers and regulators ask to see.
Questions
Frequently asked.
Can SARBOnline manage several capacity providers at once?
Yes. Each insurer or reinsurer is a party with its own terms, and premium, claims and commission are accounted for separately per provider.
Does it produce bordereaux?
Yes. Bordereaux can be produced per provider and period, and premium and cash loss bordereaux can be imported from Excel templates.
Is SARBOnline suitable for a small MGA?
Yes. It runs in the browser with nothing to install, and can be hosted by Simson or on your own servers.
See SARBOnline on your own business.
Bring a live slip, a treaty statement or last quarter's collections. We will walk it through the system with your team, in your time zone.