Budgets & premium approval
Know what was budgeted, approved, committed and paid.
Premium is a large line in the budget and hard to follow once policies start moving. SAIBA Corporate puts the four figures next to each other for each policy.
From budget to payment
Finance plans the spend and approves it, and each policy shows where it stands.
- Cash flow budgets approved and frozen by financial year
- Premium approvals, with enhancements as the policy changes
- Committed premium including endorsements and taxes
- Paid figures from the float ledger
Across the group
See the effective rate and premium over the years, by programme or class.
- Premium, sum insured and effective rate year on year
- Allocation across business units
- Float balances and transactions
Questions
Which currency are approvals in?
An approval can be raised in the policy's currency or its base currency, and is also held in USD at the rate on the day it was approved.
Does going over the approval stop the policy?
The page warns you. Your approval matrix decides what needs sign-off.
Further reading: on the SAIBA blog.
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