Insurance broking


Best practice benchmarking

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 Pacific 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.

Send and receive international funds quickly and easily, with our foreign exchange specialist; International Money Transfers.

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.*^

Product Disclosure Statement dated 12 March 2014.

Macquarie Premium Payments Video

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. 

Incoming Payments Internet
*Credit Card
Phone
*Credit Card
BPAY*   Cheques via
Locked Mail 
Australia Post Macquarie Premium Funding
    Your clients choose how to pay via a range of payment options    
    Macquarie Bank processes and deposits all payments into your Macquarie account    
    You download consolidated daily files from Macquarie bank into your broking system.   All transactions are then automatically receipted into your broking system
Ongoing Payments Payment files created in your broking system can be uploaded to your Macquarie Bank account to pay your creditors    
    Once you authorise the payment file/s, Macquarie Bank validates them and processes the payments.   Creditors receive their payments overnight and they are automatically receipted into your broking system.

 *Macquarie Premium Payments is powered by DEFT which gives you the option to charge credit card fees to cardholders. Registered to BPAY Pty Ltd ABN 69 079 137 518 

"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.^

Product Disclosure Statement dated 12 March 2014.

Premium funding

Seamless funding solutions

Insurance is a necessity in every well-managed business but paying insurance premiums up front can take a toll on your cash flow.

That’s where insurance premium funding can help, enabling you to spread the cost of your insurance into equal monthly payments and avoid large lump-sum outlays.

Macquarie Pacific Funding is one of Australia and New Zealand’s leading providers of insurance premium funding. Our deep understanding of the insurance premium funding business has been built over 25 years of commitment to the general insurance broking industry. We believe the needs of every broker and every borrower are unique and we work hard to get to know your individual circumstances so we can offer the right solutions for you. We focus on delivering the best services and broadest product range possible to enhance your business, seamlessly.

More than 70,000 businesses and individuals across Australia and New Zealand choose to fund their insurance premiums with Macquarie Pacific Funding each year.

If your business incurs annual insurance premiums of $250 or more, you can spread the lump sum into equal monthly payments. Macquarie Pacific Funding will tailor the instalment period to suit your needs, usually over a fixed period from six to 12 months.

Benefits of premium funding with Macquarie Pacific Funding:

  • competitive terms and fixed interest rates
  • potential tax deductible on interest costs
  • no loan service fees and no monthly fees*
  • a wide range funding options and payment types.

We also provide monthly payment plans for domestic insurance.

Visit us or call us on 1300 555 068 to find out more

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

2013-14 Insurance Broking Benchmarking Report launching in
March 2014

See what's inside the Insurance Broking Industry Benchmarking report

Macquarie's fourth biennial Insurance Broking Benchmarking Report will be released early March 2014.

The report -the only one of its kind in the Australian market - will uncover the latest trends and industry best practice to help improve the performance of your firm.

Brokers who participated in our survey (conducted 4 – 20 November 2013) will automatically receive a free copy of the report.

Register for your copy of the report

 

Industry Organisations

Macquarie Relationship Banking is proud to support the following industry organisations:

Austbrokers Council of Queensland Insurance Brokers Insurance Brokers Network Australia

Steadfast  UAC

Contact us

Banking

Call us on

1800 812 673

Macquarie Pacific Funding

Call us on - Australia

1300 555 068

Call us on - New Zealand

0800 000 246

or email us and we'll call you.