SIBRO

SIBRO offers insurance broking workflow management for handling prospects, policies, claims, accounting, and reporting. While it may require customization based on business needs, its client self-service portal and auto reconciliation of payments support insurance brokerage operations.

What Is SIBRO?

SIBRO is an end-to-end insurance broking platform that brings sales, servicing, renewals, accounting, and reporting into one system. The back-office module helps brokers manage client policies, claims, and compliance records without relying on separate spreadsheets for each task. Client grouping is another part of the system that lets brokers place related businesses under a single parent account. This setup helps firms manage daily insurance operations in a structured way as they handle ongoing brokerage work.

What Is SIBRO Best For?

SIBRO is known for its Optical Character Recognition (OCR)-based policy data entry for insurance brokers. It is particularly known for its ability to automatically scan and extract details from policy PDFs, populating policy records without manual typing. The software is a strong fit for brokerages handling high policy volumes or managing renewals across multiple branches, where automated extraction saves time.

How Much Does SIBRO Cost?

SIBRO is available at a one-time fee of $4,800. In addition to the base subscription costs, organizations should account for the following expenses:

• Implementation: Typically priced between $8,000–$75,000 (one-time), covering setup of policy workflows, user roles, and system configuration based on how the brokerage operates in practice
• Data Migration: Commonly priced in the range of $2,000–$40,000 (one-time), depending on the amount of client, policy, and claims data being moved from spreadsheets or older systems
• Training And Onboarding: Usually falls around $1,500–$25,000 (one-time), covering hands-on training for staff on policy handling, RFQs, renewals, and accounting workflows used in daily work
• Integrations: Often comes in between $5,000–$80,000 (one-time), depending on how many external systems are connected
• Customization And Configuration: Typically ranges from $10,000–$150,000 (one-time), covering adjustments to workflows, reporting structures, compliance rules, and broker-specific automation needs
• Premium Support: Usually priced between $3,000–$25,000/year, covering priority support, SLA coverage, and ongoing help from the support team

Disclaimer: Pricing references are based on publicly available third-party information and industry benchmarks. Actual costs may vary.

SIBRO Integrations

The software supports integration with platforms such as WhatsApp.

How Does SIBRO Work?

Log in to your SIBRO account to access the platform and follow the given steps to manage insurance brokerage work:

• Create client and prospect records by entering details and grouping related businesses under parent accounts in the system
• Track quotes and policy issuance by checking insurer responses and turning selected quotes into active policies
• Maintain policy records by updating information, adding documents, and tracking status changes during the policy lifecycle
• Handle renewals by checking upcoming due dates and updating policy details for continued coverage
• Process claims by entering claim details, tracking stages, and updating required documents as cases move forward
• Manage accounting entries by recording insurer statements and tracking payments and reconciliation work in the system
• Generate reports to review business activity, policy status, renewals, and operational records across the brokerage

Who Is SIBRO For?

SIBRO is suitable for insurance brokerage and agency professionals as well as firms, including:

• Insurance brokers
• Insurance agents
• Insurance broking firms

SIBRO Use Cases

Based on our analysis of SIBRO’s current capabilities, we have identified key scenarios where this software is a good fit for insurance brokers, agents, and brokerage firms:

Brokerages Managing Growing Policy Volumes With Manual Data Entry

As a brokerage's client base grows, so does the volume of policy documents that need reviewing and entering into internal systems. When this is done manually, it takes up staff time and raises the risk of errors that affect renewals or reporting. SIBRO may suit brokerages in this position, where the OCR feature can pull data directly from scanned policy documents and reduce the load on data entry staff.

Firms Transitioning From Spreadsheet-Based Operations To Structured Recordkeeping

Many brokerages still rely on spreadsheets and physical files to track policies, claims, and client information. As the number of clients and policies grows, this becomes harder to manage. Locating records, updating statuses, and avoiding duplication all become more error-prone without a structured system in place. SIBRO's back-office module can give firms moving away from this setup a foundation for organizing client and policy data in a consistent way.

Brokerages Coordinating Distributed POSP And Partner Networks

Brokerages working with networks of POSP agents or sub-brokers face the ongoing task of onboarding new partners, keeping them trained, and giving them visibility into their performance and earnings. Without a structured way to manage this, coordination tends to rely on scattered communication and manual updates. SIBRO's partner portal can support these organizations with self-service onboarding, training access, and earnings visibility for agents working in different regions.

Accounting Teams Reconciling High Volumes Of Incoming Payments

For brokerages processing payments from multiple insurers and clients, matching incoming amounts to the correct invoices can become a time-consuming task. Left unresolved, these mismatches can pile up and complicate monthly reporting. SIBRO's auto reconciliation feature may help accounting teams dealing with this volume by flagging unmatched entries for review and supporting a more consistent reconciliation process.

Brokers Servicing Corporate Groups With Multiple Related Entities

Some brokerage clients are structured as groups, with a parent company and several subsidiaries or branches each holding their own policies. Tracking these entities separately can make it harder to see the full picture of a client relationship or to report on the group as a whole. SIBRO's client grouping feature lets related entities be linked under a common parent, giving brokers a more coordinated view for tracking and reporting.

Is SIBRO Right For You?

If you're an insurance brokerage managing prospects, policies, claims, accounts, and compliance within a single workflow, SIBRO could be a strong fit. The platform is built to support IRDAI compliance requirements for Indian insurance brokers through structured tracking of brokerage activities. Trusted by over 130 insurance broking firms, SIBRO could help firms that want to scale operations while keeping daily insurance processes organized and easier to manage across teams.

Still unsure about SIBRO? Connect with us at (661) 384-7070 for further guidance.