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.
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 20 March 2013.
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.
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.
|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 20 March 2013.
Macquarie Premium Funding (MPF) is a purpose built 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 into a recognised market leader.
Streamlined automated processes: Prepare quotes and contracts online and approve loans quickly, with minimal administration. The status of quotes and approvals can be obtained 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: Endorsements and renewals are streamlined, paperless and more efficient with short loan contract documentation. Using Macquarie Premium Funding means your debtor management is straightforward, without the need for you 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 you, including quoting flexibility, paperless endorsements and renewals and instant broker management and loan reporting.
To find out more, call 1800 005 048.*
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.
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.*
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.