Grappler launches broker settlement service for insurers
Grappler expands its automated settlement platform to include insurance brokers, enabling real‑time reconciliation across the indirect insurance chain.Summary
Grappler has announced the launch of an automated settlement service that extends its existing platform to insurance brokers, creating a single settlement layer that connects brokers, managing general agents, underwriting agencies and insurers while leaving each party’s core systems intact. The new service addresses a long‑standing gap in the indirect insurance market, where manual spreadsheets, PDFs and other document‑based processes have caused reconciliation delays and a 90‑day or longer blind spot in cash visibility. By making each payment uniquely identifiable from receipt, Grappler’s solution allows continuous reconciliation as funds move through the chain, reducing manual effort and improving real‑time cash flow insight.
The platform links policy administration, claims, payment providers, banks and distribution partners, automating matching, allocation and reconciliation without replacing existing software. According to CEO and Co‑Founder Alistair Harold, the launch “completes the end‑to‑end automated settlement layer for indirect insurance and closes the cash‑flow blind spot that has plagued the industry for decades.” Existing Grappler users have reported up to 95 % reduction in reconciliation effort, 98 % cut in unallocated cash, and doubled transaction volumes.
The expansion comes amid Australian payment‑process reforms that demand faster visibility of funds and transaction status. Grappler’s broker‑focused service is expected to ease the burden on finance teams that still chase remittances and resolve breaks between documents and bank records, while also supporting better oversight of balances in trust or settlement accounts across the APAC market.
(Source：Cfotech Australia)