Broker payment matching for underwriters
One payment. Eighty-three policy lines.
Brokers pay underwriters in lump sums that must be applied across several — sometimes hundreds — of policies. A $247,000 deposit split across 83 policy lines for different coverholders is routine. receipting.ai matches 97.6% of remittance lines without a keystroke, then posts to your underwriting system or hands your team a posting file.
Used by AUB Group, Hutch, Agile, ProRisk and 360UW
Why it's hard
The broker's records and yours never quite agree.
It arrives as a remittance — emailed as a PDF or spreadsheet, a different shape from every broker management system.
Three real samples — every broker management system exports a different shape, before a single line can be matched.
They quote last year's policy number. They pay short by a few dollars. They spell the insured's name a different way in every system. One lump sum covers a dozen policies.
A generic AR tool doesn't know a policy number and never saw the closing advice. It clears the easy money and leaves the hard part stuck — which was the only part that was ever hard.
Our last 20,000 matches — real production data
1 in 7
remittance lines agreed with the underwriter's records on every field.The other six are why payments sit in suspense for weeks.
One payment, two policies.
The insured carries professional indemnity and cyber under two policy numbers, and the broker pays for both in one line — quoting only the PI policy. The two premiums sum exactly to what has been paid, so the system splits the allocation across both.
Three outstanding premiums, one match.
One payment, three outstanding premiums for the same insured. Without an effective date the matcher would have to guess between them. With one, the right premium falls out — same date, same amount to the cent. Auto-matched.
What we do with them
We clear them anyway.97.6% without a keystroke.
Matched to your bordereau lines, then posted to your underwriting system — or handed to your team as a posting file. Your finance team goes from processing every line to reviewing only the suspense queue. And the app works that queue too:
Closing advices: 30 to 60 days' warning.
A closing advice is the weather forecast for your premium book — the broker tells you what they intend to pay weeks before the money lands. Most teams leave the forecast unread in a shared mailbox and get soaked. receipting.ai reads every closing the day it arrives and flags what's wrong while the broker still has the file open. With closings alongside remittances, matching passes 99%.
Every unmatched payment explains itself.
The 2.4% that can't auto-match lands pre-worked: what happened, where the gap sits — to the cent — who can fix it, and the reconciliation email already drafted. A payment with no premium raised routes to the underwriter; one that needs the broker's explanation goes to suspense. Your team reads the case file and clicks send. Suspense clears in a median of 8 days.
If a broker is late, the app chases them.
Across the books we manage, the median premium takes 56 days to pay against 60-day terms — and 37% blow past. So the app chases: statements and reminders on schedule, every reply logged against the right outstanding premium, and the chasing stops the moment the money lands.
How it works
From broker payment to posted premium.
Bank deposits, broker emails — remittances and closing advices — and outstanding premiums flow into a single matching engine. The large majority reconcile and post automatically; the rest become a clean worklist, with email only where a person is needed.
97.6%
matched & postedwith no email involved
Policy lifecycle
Policy bound
Day 0 · cover effective
Closing advice
broker confirms premium due
Premium due
≈ Day 60
Inputs
Bank statements
deposits to the premium trust account
Remittances
what each payment covers
Closing advices
early warning of expected premiums
Outstanding premiums
the underwriting records
Matching
receipting.ai
AI-powered matching
fuzzy names · amount reconciliation
Outcomes
97.6%
matched & posted
posted automatically · no email
2.4%
Attention & Suspense
needs a person · median 8 days to clear
AR chase
unpaid past dueAutomated reminders for unpaid premiums — they stop on payment.
Reconciliation email
the 2.4%Sent to the broker to resolve the exception, only where a person is needed.
Broker emails inInbound
Remittances and closing advices — forwarded or read from a mailbox. They drive the match and flag premiums before they're paid.
Reconciliation emailOutbound
For the 2.4% that needs a person — sent to the broker to resolve the exception.
AR chaseOutbound
Automated reminders when a premium is unpaid past its due date; they stop on payment.
Structured files move separately. Outstanding premiums in and the posting file out — plus bank-statement feeds — travel by SFTP or a direct feed, not by email.
Results
“It's rare for a project to result in both happy finance staff and happy IT staff.”
Hamish McDonald, Chief Executive Officer, ProRisk
Cash receipting has always been the first function of the day. From a fully manual matching process that could take on average all morning, this function is now automated and completed in a matter of minutes. This has allowed us to re-allocate resources to other value-add functions to ensure that outstanding debts are addressed in a more timely manner.
Once we upload the Xero report each morning, the hub quickly matches payments and truly lives up to its name. It saves us a significant amount of time, requiring minimal hands-on effort while delivering excellent results. The closing matching feature is an added bonus, helping us identify issues before invoices are paid and saving valuable time later in the following months.
Around 97% of our broker payments now match and post to Xero automatically, with almost nothing left in suspense. The team has it reconciled shortly after they're in, so the day goes to the work that grows the business.
The app has reduced the time spent reconciling payments by more than 90%.
The receipting.com team told me it would be my easiest software project this year, and they were right!
Around 98% of our premium receipts match automatically — only about one line in fifty needs a person. It's done shortly after the team logs in, so we start the day reconciled and just have to work on the exceptions. That's given the team their mornings back for the finance work that improves the business, and Doug's team has listened to us from day one.
Trusted by leading underwriters
Getting Started
Start within a day.No IT project, no implementation fee.
Your finance team can start saving time the same day. Full integration with your underwriting system comes later — when it's convenient for IT.
Connect your premium data
Upload your debtors report. We track every outstanding premium from day one.
Forward broker documents
Remittances, closing advices — any format, any broker. Forward to your dedicated inbox.
Chasing runs automatically
Overdue brokers receive structured follow-ups on schedule. Every reply is logged against the correct premium.
Review the suspense queue only
97.6% matched without a keystroke. Your team sees only what genuinely needs a decision.
See the full AR workflow with your data. 30 minutes.
See the full AR workflow with your data
30 minutes. Bring a sample remittance — we'll match it on the call.
Upload your messiest document
Remittances with 50 line items, closing advices that split premium across fees, levies and stamp duty. We'll extract every detail and send you the structured data — no demo required.
Results in minutes • No signup required • Data deleted after sending
Your data is processed securely and deleted immediately after we send your results.
What is manual AR costing you?
Three streams of work: matching payments, investigating suspense, chasing overdue brokers.
Frequent errors, multi-invoice payments, name mismatches.
About one person's time across the underwriting team.
Core platform — reduces finance reconciliation time.
Lifts matching to 99%+. Near-zero suspense.
Automated chase emails + DPO reduction.
$350/account with volume discount.
You send an outstanding-premium export and load the posting file.
$10.0M/mo in premium
$21.7M outstanding
1–50
Δ $30,000 vs finance
AU Premium Payment Warranty: 60 days from inception
5 days faster
* 99%+ of broker payments match straight through with closing advice.
* Closing advice prevents ~99 % of items reaching suspense — included in the platform fee.
* 80 % of chase emails automated — included in the platform fee. Underwriters handle only disputes and write-offs.