Every underwriting agency knows the drill: cash lands in the trust account, and someone spends the rest of the week matching it to remittances, closing advices and open invoices. We think that week belongs to your business, not your back office.
That’s why Ebix Australia has partnered with receipting.ai to launch the Ebix Integrated Reconciliation Service, powered by receipting.ai, bringing AI-powered premium reconciliation to underwriting agencies on Ebix platforms: eGlobal/Evolution, WinBEAT and CBS.
The timing is no accident. Underwriting agencies are among the fastest-growing segments of the Australian intermediated market, expanding by more than 12% in the last financial year. “Agencies are winning because they’re specialists,” says Mark Tiernan, Ebix Australia’s Chief Growth Officer. “Freeing their finance teams from manual receipting means that capacity goes back into writing business. That’s the kind of growth we want to enable, for our clients and with them.”
The matching engine is already in production with an eGlobal underwriting agency, matching and posting 97.6% of broker payments without a keystroke. “Only one in seven remittance lines agrees with the underwriter’s records on every field, which is why this has never been solved with file mapping alone,” says Doug Hudgeon, CEO of receipting.ai. “Running the match on certified ledger data and posting straight back means agencies get reconciliation that is not just automated, but accountable.”
For Ebix, the partnership is a template, not a one-off. “Our strategy is simple: Ebix platforms should be the place where the best capabilities in the market plug in cleanly, safely and with full auditability,” says Kang Zhao, Ebix Australia’s Chief Information and Strategy Officer. “We own the ledger integrity, the connectivity and the governance, and we partner with specialists who are genuinely best at what they do. Reconciliation is the first of a family of integrated services we’ll bring to our clients this way.”
The bar for what earns a place in that family is deliberate. “We’re clear about where AI earns its place: real workloads, measurable outcomes, and a human in control,” says Philip Fourie, Ebix Australia’s CEO and Managing Director. “Matching payments at this accuracy, with every posting fully auditable, is exactly that. It reflects what we stand for: innovation in service of our clients, not for its own sake.”
For more information on the Ebix Integrated Reconciliation Service, visit https://www.ebix.com.au/contact/ or email sales@ebix.com.au