Streamlining IPT Sense Checks for Faster, Compliant Closes

Client Overview

A leading global insurance services firm needed to streamline Insurance Premium Tax (IPT) sense checks across multiple bordereaux while adhering to strict regulatory timelines in Spain and Portugal. The priority was not only faster execution, but also greater control, consistency, and compliance across the close process.

Problem Statement

The client’s IPT sense check process relied heavily on manual reconciliations and reviewer-driven validations. This created delays in processing, extended turnaround times, and introduced inconsistencies across reviews. With tight regulatory deadlines in multiple markets, the operational burden also increased compliance pressure and financial risk.

Solution Provided

Decimal Point Analytics designed a more structured and repeatable approach to IPT sense checks by standardizing the validation workflow.

Key elements of the solution included:

• Preparing standardized templates to support structured IPT sense checks across bordereaux
• Enabling quick updates by loading new bordereaux data into existing templates
• Using refreshable pivot tables to simplify reconciliation and validation
• Reducing dependency on manual reviewer interpretation through a more consistent control framework

This helped convert a fragmented, manual activity into a scalable and more efficient operational process.

Outcome

The engagement delivered measurable improvements across efficiency and compliance:

• 50% faster processing time
• Improved operational efficiency across IPT review workflows
• Reduced compliance and financial risk
• Greater consistency in reconciliation and validation processes

DPA Impact

By introducing standardized workflows and reusable validation structures, DPA helped the client improve speed without compromising regulatory discipline. The result was a more controlled and scalable close process, better suited for high-volume insurance operations.

Key Takeaway

For insurance leaders, compliance-heavy processes do not need to remain manual to remain reliable. When validation and reconciliation workflows are standardized, firms can accelerate close cycles, reduce operational dependency, and improve regulatory confidence at the same time.

Looking to simplify compliance-intensive insurance operations and accelerate close timelines?

Connect with Decimal Point Analytics to build smarter, more scalable workflows for regulatory reviews and reconciliations.