CLIENT STORIES
Creating financial growth for a non-life insurance agency in South-East Asia
Non-Life Insurance Agency
A growing non-life insurance agency offering auto policies thrived until the COVID crisis led to increased client defaults. To manage cash needs, they secured high-interest loans (35–60% p.a.), impacting their cash flow.
“We’ve got too much debt at high interest rates, and our financials are so scattered we can’t see a path forward…”
We began by implementing new sales and finance processes. With reliable monthly financial reporting, we were able to map out the agency’s total debt obligations and identify future cash requirements. Using these insights, we devised a plan to ensure the company could meet its loan payments by negotiating staggered settlements with insurance suppliers, adjusting its pricing to front-load customer payments, overhauling its collections team and processes, and prioritizing repayment of the highest-interest loans first.
“We need to eliminate unnecessary expenses and free up cash to stabilize the business.”
Through a detailed cost review, we uncovered several underperforming physical branches and identified teams that were no longer operating efficiently. By closing these locations and rightsizing certain departments, the agency significantly reduced its overhead and freed up vital cash to accelerate debt repayment.
With these measures in place, the insurance agency on track to successfully eliminate all outstanding loans and return to consistent positive cash flow.
