Insurance broking
Competitive lending for Insurance Brokers
Overview
Banking that gives you an edge
If you’re an insurance broker, doesn’t it make sense to choose a bank that understands insurance broking? A bank with tailored business banking and funding solutions for brokers, and a more efficient, streamlined approach to managing the collection of insurance premiums.
With more than 20 years experience in the industry, Macquarie strives to be the insurance brokers' bank. We have a deep understanding of the insurance broking sector and your unique banking and payment needs. Our Relationship Managers understand the dynamics of broking businesses. We talk your language, resulting in a more effective and efficient banking relationship supported by innovative banking solutions.
Lending: finance for mergers and acquisition, succession planning, commercial property or the refinance of existing facilities on more flexible terms.
Macquarie Premium Payments (MPP): an innovative, automated solution to manage the collection, receipt and reconciliation of client payments.
Macquarie Premium Funding (MPF): one of Australia’s leading premium funding businesses, MPF aims to provide leading edge systems, procedures and service to brokers.
Trust and operating accounts: competitive rates of interest including term deposit facilities, merchant services, credit cards, leasing as well as access to a wide range of specialists across Macquarie to help with personal wealth requirements.
International Money Transfers: simple and cost-effective foreign exchange transfers in more than 50 currencies.
Industry benchmarking: access to our latest insurance broking benchmarking research.
"Macquarie’s products and services are innovative and relevant to our business. They have taken the time to study what we do and provide solutions that are designed to work with our current business practices, save costs and improve efficiency across the board. The relationship is one of business partners, not customer and bank. We know that they will always be there to support us.”
Mark Finn, Managing Director, Finn Foster Insurance Brokers
To find out more, call Macquarie.*^
Read the Product Disclosure Statement dated 29 August 2011.
Payment solutions
Streamline your payments, receipts and reconciliation
Macquarie Premium Payments (MPP) automates and streamlines the invoicing, receipting and bank reconciliation processes within your business, allowing you to free up staff, cut costs, reduce risk, and offer a broader range of payment options to your clients. Suitable for any size of firm, MPP provides a seamless and significant step forward in payments management.
Benefits to your broking business
Collect premiums faster: multiple easy payment options for your clients, means faster payment to you.
The only automated payment solution: free up hours spent entering data, issuing receipts, banking cheques and reconciling your trust account – so you and your staff can spend more time on your business.
An electronic process, from payment to reconciliation: increase transparency, reduce errors and enjoy greater protection against fraud with in-built verification.
Credit card surcharge added automatically: give your clients the convenience of paying by card, while covering the cost of merchant fees.
Integration and reconciliation with most broking software: our dedicated team will help you with the transition and provide you with comprehensive training, contact staff and ongoing support. MPP integrates with WinBEAT, CBS, eGlobal, Broker Advantage, BrokerPlus and Broker Central.
"The best thing about dealing with Macquarie is that they understand our business and really specialise in what they do. They are not just bankers, they understand the insurance industry, the systems and how broking businesses operate. In making the switch to MPP, Macquarie showed us a different way of doing things. This payment system works really well for brokers, it’s efficient and easy and I would encourage any broker to strongly consider installing this system in their business.”
Alan Wilson, Director, Alan Wilson Insurance Brokers
To find out more, call Macquarie.^
Read the Product Disclosure Statement dated 29 August 2011.
Premium funding
Superior financing for your clients’ insurance premiums
Macquarie Premium Funding (MPF) is a purpose built premium funding business aimed at providing leading edge systems, procedures and service to insurance brokers.
MPF offers a distinctly different premium funding experience and challenges past conventions and old ways of doing business. We offer a flexible loan product that helps insurance brokers’ clients reduce the cash flow impact of buying cover in risk lines. These include professional indemnity, public risk, product liability and workers compensation.
Our innovation, coupled with our deep knowledge of the insurance broking industry enables us to exceed the expectations of our insurance broking clients, an approach which has seen us grow over the last four years to a recognised market leader.
Tailored premium funding loans
Streamlined automated processes: prepare quotes and contracts online, and approve loans quickly, within minimal administration. You can also check the status of quotes and approvals, 24 hours a day, 7 days a week.
Flexible contracts, structured to suit your clients’ needs: you can provide split settlements for workers compensation and choose multiple settlement dates within one transaction.
Reduced paperwork: endorsement and renewal is streamlined, paperless and more efficient with short loan contracts. Debtor management is straightforward, without the need to chase invoices.
Increase retention with our ‘Evergreen’ loan contract, competitive, credible financing, and the ability to make additions to existing policies or renew policies without paperwork.
Advanced technology our purpose built premium funding platform, MPF Online, delivers important features and benefits to insurance brokers, including quoting flexibility, paperless renewals and endorsements and instant broker management and loan reporting.
"Macquarie Premium Funding is committed to becoming your partner in the insurance broking space. Our growing team are forward thinking in their approach and continually seek to empower you with enhanced concepts to add value to your work."
Gary Seymour – CEO, Macquarie Premium Funding
To find out more, call 1800 005 048.*
Lending
We offer competitive lending for Insurance brokers too
Do you need funds to purchase another broking business, or to buy out partners? Or perhaps you’re looking to refinance existing borrowings, extend your office space or buy new premises? Whatever your objectives, you need a bank that understands your needs and your business.
When you join forces with Macquarie, you’ll discover an altogether smarter kind of banking experience. Our aim is to help you grow your business by offering you more flexible, convenient and tailored funding solutions.
Why borrow from Macquarie?
Innovative funding options structured to meet your needs – to facilitate growth, succession planning, refinancing, mergers and acquisitions, or personal wealth creation.
Loans supported in various ways. Unlike most banks, we can lend against your business in isolation, your property (residential or commercial) or a combination of both. In addition, Macquarie Property Essentials also provides property loans for a range of personal, business and investment opportunities.
Competitive leasing and hire purchase facilities on offer to preserve your working capital when buying computers, office equipment, vehicles and other assets.
Flexible repayment options available to help make the most of your cash flow.
A Relationship Manager who specialises in the insurance broking industry and is proactively involved in your business growth.
“Macquarie Bank is set apart from the major banks because they have the best understanding of the Insurance Broking Industry, they always look to be opportunistic, they look for better ways to do business and they push hard to come up with new initiatives that add value to our business.”
Paul Dwyer, Managing Director, PSC Insurance Group
To find out more, call Macquarie.*
Benchmarking
Benchmark your businesses performance with our industry insights
Register to receive a free copy of our 2011 insurance broking benchmarking report.
Performance benchmarking is a powerful business management tool that highlights both the strengths of your business and potential areas for improvement. It allows you to critically assess how your business is performing against your peers. You can then introduce initiatives that help ensure your business is efficient, profitable and uses best-practice techniques.
Macquarie's survey is the only benchmarking research to target the financial performance and key business drivers of the Australian insurance broking sector.
Find out key insights
For further information on the latest market trends and best practice benchmarks for better insurance broking firm performance please contact us.
Industry Associations
Macquarie Relationship Banking is proud to support the following industry organisations:
Report now available
Register to receive a free copy of our 2011 insurance broking benchmarking report
Contact us
Call: 1800 812 673
For specific Macquarie Premium Funding enquiries call: 1800 005 048