WeCare, a prominent Nigerian insurance brokerage, needed to streamline its core operations. Their existing process for booking insurance policies and calculating commissions was manual, time-consuming, and prone to errors, affecting both client service and financial accuracy.
The Challenge
The insurance brokerage industry requires precise handling of complex commission structures, policy terms, and financial transactions. WeCare faced significant challenges with their manual processes, including inconsistent commission calculations, delayed policy processing, and difficulties in generating accurate financial reports for both clients and underwriters. The lack of automation also meant that their team spent excessive time on administrative tasks rather than focusing on client relationships and business development.
The Solution
Instead of an off-the-shelf product, Reeltech developed a custom module directly within WeCare's Microsoft Dynamics 365 environment. This bespoke solution was designed to automate the entire policy lifecycle, from booking and posting to generating precise financial notes for all parties. The module includes sophisticated commission calculation engines, automated workflow triggers, and comprehensive reporting capabilities tailored specifically to the insurance brokerage industry.
The Implementation
Our development process was highly collaborative, ensuring the custom module perfectly matched the unique workflows of insurance brokerage. We integrated the module seamlessly into their existing Dynamics system, providing a unified platform for all operations. The implementation included extensive testing with real-world scenarios, user training programs, and a phased rollout to ensure minimal disruption to ongoing business operations.
The Results
The custom module has revolutionized WeCare's efficiency. Commission calculations are now instant and accurate, debit/credit note generation is automated, and the finance team has a real-time view of all policy transactions. This has allowed WeCare to serve clients faster and improve their financial closing times. The solution has also enhanced compliance capabilities and provided better audit trails for regulatory requirements.
