Services
An operational review is an in-depth and objective review of your broking system by an external expert. It can be used to identify and address issues with the system set up, administration and day-to-day processing procedures used by your business.
Additionally, the Operational Review may suggest specific features that could be utilised to assist with managing Compliance, Trust Accounting, User Administration and ensuring your data is current and relevant. An operational review allows your organisation to evaluate how well you are utilising the software and all its features as well as managing data and users in compliance with the current regulatory regime.
The Operational Review covers the following areas:
Registration Options
Review registration details and functionality
Users & Security
Review user access and security levels in conjunction with the company org chart
System Options
Review all system options and explain functionality where relevant. Make recommendations
Compliance Reporting
Review compliance details and highlight issues
Renewals
Review renewals and highlight issues
Debtors
Review debtors and highlight issues
Trust Account Analysis
Review Trust Account and suggest actions if required
Policy Fees & Commissions
Extract and review Fee and Commission data to ensure there are no anomalies.
Policy Processing
In conjunction with selected staff, review processing standards to confirm transaction processing, payments, accounts and claims functionality is used to its full potential
Claims
Review Claims and make recommendations
Data Clean-up
Analyse Client, Policy and Claims records. Make recommendations for archiving data
Merge and Delete
Review Classes and Underwriters for unused entities.
Merge and delete recommendations can be provided, additional to Operational Review report.
An extensive Operational Review Report is provided and discussed with the management team. The report includes recommendations to remedy any issues that may be discovered during the review process.
The Operational Review can be performed on-premise or remotely.
In conjunction with Guildfords Funds Management we offer AR compliance reviews to ensure your ARs are meeting the requirements of your AFS licence.
Guildfords conducts compliance reviews to assist your AR’s in maintaining their duty to clients and their understanding of their clients’ situation in relation to personal circumstance and risk. Guildfords compliance reviews enables your organisation to assess its compliance function and identify gaps. Guildfords will provide an implementation plan to address gaps and advise broking best practice.
We review your Exceptions reports relevant to FSG’s, PDS’s, premiums held in trust, unconfirmed endorsements, quotes, refunds due, closing actions etc. We confirm that the debtor reports and aged premium listings have been actioned. Additionally, we evaluate system setup and make suggestions on best practice where applicable.
To find out more go to guildfordsreviews.com.au
In conjunction with Guildfords Funds Management, CBS offers comprehensive website reviews, checking linked documents (FSG, PDS, Privacy, Disclaimers) to ensure your site complies with ASIC and Broker Network requirements under s923 Corporations Act (2001).
Make sure your website reflects current requirements in relation to restricted words and expressions and includes all of the information that is required on public documents and marketing materials.
We provide customised training in all aspects of WinBEAT including integration of WinBEAT with Microsoft 365® products. We'll facilitate integration of your on-line products into WinBEAT via eLink.
We want you to get the most out of your software investment.
With a detailed knowledge of both general insurance and trust account requirements, we can assist you in ensuring that your trust account is always audit ready.
Your insurance data is valuable and it is important to keep it up to date and relevant.
We will assist in analysing your WinBEAT policy data and performing Database Services to merge and delete old and unused underwriters, classes, account managers and associates.
Additionally, we can help with Archiving your ledger to remove outdated historical data, keeping your WinBEAT database compact and fast.
When acquiring another insurance business you will need to merge their data into your existing ledger.
Merging data from one ledger into another is a complex and lengthy process that involves a number of organisations. We can assist with acquisitions, data merges and conversions, providing project management for the entire process or assisting with pre and post merge data clean-up and data mapping.