Budget Maestro’s built-in accounting rules and formula-free calculations provide insurance providers an easier and more reliable way to budget and plan. Whether you are budgeting for departments, policy types, plans, or customers, you’ll have the accurate, timely and actionable financial and operational data you need.
Get the answers you need
Easy-to-use what-if scenario capabilities allow you to change assumptions and immediately see the impact on your revenue, expenses, and cash flow. For example:
- If we stop writing flood policies, will our profitability improve?
- If the economy remains sluggish, will we have the cash flow to maintain all of our locations?
With Budget Maestro insurance company budgeting software, Insurance Companies can:
- Accurately allocate revenues and expenses across a range of business units including state, product line, and premium type
- Simplify your process with driver-based planning and allocation spreads
- Plan for and consolidate financials across locations, states, product families, and premium types, etc.
- Model revenue using key drivers such as gross written premiums, loss ratios, and commission ratios
- Perform frequent re-forecasts and what-if analyses to reduce risk, effectively manage costs, or respond to growth
- Run timely and accurate reports on key performance indicators (KPIs) for cost and cash flow management during economic downturns
- Quickly see the impact of changed assumptions on integrated P&L, balance sheet, and cash flow statements
- Budget and report on Policy type, location, or entity and view at a detailed or consolidated level
- Easily update financials to match changes in organizational structure
Enhance cost efficiency
- Control and manage personnel costs for hourly and salaried employees
- Monitor impact of changes in overhead, policies, and other expenses