Creating financial growth for a non-life insurance agency in South-East Asia

Shield had built a strong reputation around fast, convenient auto-insurance cover and had expanded quickly across multiple branches. But when collections slowed during the pandemic, the business became exposed. Cash inflows weakened, short-term debt increased, and management had to make decisions without a consolidated view of the financial position.

The result was a business under pressure from both sides. Debt servicing was consuming more cash, while basic gaps in reporting made it harder to see where the business could act first. Before growth could resume on a healthier footing, the company needed tighter financial control and a more practical plan to stabilise cash.

1. Stabilising the finance engine

Our first step was to introduce a more structured monthly close. We implemented a standardised chart of accounts, connected bank feeds to the accounting system, and worked with the collections team to ensure customer payments were recorded on the same day they were received. With cleaner books in place, we mapped the full debt schedule and built a clearer view of principal, interest, and cash needs over the coming quarters.

That analysis showed that the highest-rate loans were absorbing a disproportionate share of available cash, leaving too little room for insurer payments and new-policy acquisition. Using this visibility, we helped Shield negotiate staggered settlements with its largest insurer counterparties so payables could be stretched without damaging critical relationships. We also redesigned the premium schedule for new customers so a greater share of annual premiums was collected earlier in the policy life, reducing reliance on expensive bridge debt.

Collections also required a more disciplined process. We replaced ad hoc reminder calls with a more structured sequence of messages tied to policy start dates and grace periods, and introduced daily ageing reports and weekly targets for account managers. This helped improve collection timing and gave management more room to reduce the most expensive debt first.

2. Streamlining operations and reducing overhead

Once the cash flow picture became clearer, we turned to the cost base. A branch-level profitability review showed that two storefronts had been loss-making even before the pandemic. Both operated in areas where agent coverage was already high, which meant the branches were no longer essential to maintaining customer access. Closing them removed rent and staffing costs while shifting remaining activity to stronger locations.

We also reviewed the claims-administration function, which had grown organically as volumes increased. Over time, overlapping roles had developed. By rightsizing the team through natural attrition and selective redeployment, Shield was able to reduce payroll without damaging service quality.