Goodbye Excel: Automated Insurance Premium Allocation

Save time and eliminate risk & benefit from no annual licence fees with our solution

Many companies insure global risks centrally via a central programme. However, when it comes to how the costs of these policies are distributed across the group, things quickly become complex: to comply with all tax requirements, the allocation of premiums to subsidiaries must be transparent and in line with market standards and clearly documented; it typically involves company- or country-specific special rules.

In practice, this problem is often either not addressed at all, or handled with considerable manual effort in Excel spreadsheets. These processes tend to be time-consuming and error-prone, and the absence of consistent documentation continues to create tax risk.

NodeMasters has developed a solution that replaces these ad-hoc approaches with an automated, traceable, and audit-proof process. Our solution allocates insurance premiums across your group reliably, transparently, and in full compliance – with no manual effort, in minutes. All required documents are generated automatically.

The precise allocation logic is flexible and tailored to your organisation. The solution can accommodate any type of special case (such as minimum premiums or regulatory requirements in non-admitted markets) without difficulty.

Our Insurance Premium Allocation solution can be implemented within a few weeks and carries no annual licence fees. Because it is built on Microsoft 365, no new software needs to be procured and extensive risk assessments are often not required.

Beckman CoulterVaillant Group

Key Benefits:

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Less effort through fully automated allocation
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No compromises: your individual allocation logic is implemented
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Excel, PDF, CSV or Word: you decide which output documents are generated
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Greater accuracy through better documentation
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Fast implementation using existing IT systems (Microsoft 365), integrated into your existing processes
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One-off cost from £7,000/€7,500/$10,000 instead of recurring software fees
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Our Insurance Premium Allocation solution in detail:

Implementation & Information Security

Our solution is built on Microsoft 365. This means you avoid acquiring an additional software product, which typically comes with extra annual costs. It also eliminates the need for lengthy cloud risk assessments or procurement processes – enabling swift implementation. If preferred, we can also implement the solution on the BRYTER no-code platform.

Integration into Your Processes

From consolidating input data through to invoicing after the completed allocation, the solution can be seamlessly integrated into your existing processes. Results are available in any output format (e.g. SharePoint list, Excel, PDF, CSV) and can be passed directly to downstream systems via API.

Documentation

During review, every allocation step is fully logged and recorded in an audit log available as a PDF report. This allows the proper distribution of premiums to be transparently demonstrated to internal and external stakeholders at any time.

Customisation to Your Allocation Logic

Our solution is not an off-the-shelf product, but a custom automation of your organisation-specific allocation logic. For each insurance policy, we can apply different KPIs – such as revenue, headcount, asset value, or others – and accommodate individual allocation mechanisms, including minimum premium rules (arm's-length) or country-specific FInC arrangements.

Costs

The exact cost depends on the complexity of the allocation logic and any additional process integrations. We will discuss this transparently with you upfront.

As a guide, here are some reference points:

  • Allocating a single liability policy at average complexity costs around £7,000/€7,500/$10,000 – one-off, with no further licence fees
  • Where allocations are implemented for multiple policies, the cost per additional policy decreases
  • Should adjustments to the allocation logic or process integration be required over time, we are happy to handle these on a time-and-materials basis, or to train your team so you can maintain the solution independently
  • Some advanced features may require an upgrade to your Microsoft 365 licence (e.g. Power Automate Premium). The costs for this depend on your existing licence model and are typically in the double-digit range per user.
Three NodeMasters co-founders (Thom, Steffen & Wolfgang) stood in a line in front of an exposed concrete background, dressed in sweaters and white shirts, smiling at the camera.

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