Odoo for Insurance
Odoo rollouts for insurance brokers and agencies
Retail brokers, commercial agencies and MGAs. Migrating the in-force book, placing risks across carriers, and reconciling commission against what the carrier actually paid.
Broking software projects are won or lost on the book migration. Everything a broker cares about, renewal retention, commission accuracy, loss ratio per client, is a function of whether the in-force policies came across with correct dates, premiums and commission terms. Get that right and the rest of the rollout is configuration. Get it wrong and the firm spends a year arguing with its own reports.
Where it hurts today
The market exercise lives in an email thread
Five carriers were approached, three quoted, one was placed. A year later nobody can say why the winner won or which carriers declined and for what reason, so the same insurers get asked again and the same ones say no again.
Commission is assumed rather than reconciled
Statements arrive as PDFs and get checked when someone has an afternoon. A shortfall inside a few percent is absorbed because proving it costs more than it is worth. Across a book, that absorbed difference is a salary.
Renewals surface too late to work
The renewal diary is a calendar reminder. A month is not enough to remarket a commercial risk properly, so the incumbent gets renewed by default and the client eventually shops it themselves.
Mid-term changes are done on paper
An endorsement changes cover halfway through the year. The premium adjustment is worked out on a calculator, the commission on that adjustment is forgotten entirely, and the policy record still shows the old sum insured.
Claims history is not attached to the book
Claims are tracked wherever the claims handler prefers. At renewal the broker cannot produce a loss ratio per client without rebuilding it by hand, so the negotiation with the market happens without the one number that decides it.
The modules that carry the load
Each one is here for a reason specific to insurance brokerage, not because it appears on a standard module list.
- ๐ฏ Odoo CRM
New enquiries and the renewal pipeline in one place, with next yearโs opportunity created from this yearโs expiry date instead of a reminder somebody sets manually.
- ๐ Odoo Sales
The quotation that holds several carrier options side by side, each with its own premium, excess, terms and commission, converted into the policy that was actually bought.
- ๐ Odoo Subscriptions
Instalment plans and renewal cycles run on recurring billing, so the money and the renewal date come from one record rather than two systems that drift apart.
- ๐ผ Odoo Accounting
Premium, the tax charged on it and commission each posted to their own accounts, then reconciled line by line against what the carrier actually paid and when.
- ๐ Odoo Documents
Policy wordings, schedules, proposal forms and the record of what was disclosed to the client and on what date, held against the policy rather than a shared drive.
- โ๏ธ Odoo Sign
Proposal forms, terms of business and confirmation of cover signed with an audit trail, which is what makes the file defensible when a claim is disputed.
- ๐๏ธ Odoo Helpdesk
Claim notifications as tickets with a clock, because the gap between the loss and the notification is the thing that gets a claim argued down.
How the rollout runs
- 1 The book, migrated
Clients, in-force policies, carriers and commission terms per class. This is the project. We reconcile the migrated book against your last commission statement before anything goes live, and we do not skip that step to hit a date.
- 2 Quote to policy
The quotation with carrier options, reasons won and lost, decline reasons, the policy record, the documents issued and the disclosures your firm requires before cover incepts.
- 3 Money and reconciliation
Invoicing, instalment plans, commission expected per policy and per endorsement, and the report that flags a shortfall outside tolerance instead of absorbing it.
- 4 Renewals, claims and reporting
The renewal window and retention reporting, claims with reserves and adjusters, and loss ratio per client available before the remarketing conversation rather than after it.
What to have ready before kickoff
Projects that slip usually slip here, not in the build. Bring these to the first workshop.
- โ The in-force book at a stated date: client, carrier, class, inception, expiry, premium and commission rate, one row per policy.
- โ Carrier commission terms per class, including the lower rate some carriers pay on renewed business.
- โ Three months of carrier statements. They are what the reconciliation will be tested against, and they are usually the first thing that exposes a migration error.
- โ The disclosures your firm insists on before a policy goes on risk, agreed by whoever owns compliance, not assumed by the project team.
- โ Open claims with reserve, adjuster, insurer claim number and the date of loss next to the date it was notified.
- โ A decision on who owns a renewal: the executive who placed it, or a renewals desk that works the whole expiry list.
Where it connects
Systems we most often connect on insurance brokerage projects. The full list is on the integrations page.
Insurance Brokerage
For the feature view of quotes, policies, endorsements, claims and commission, read the solution page.
Open the Insurance Brokerage solutionQuestions we get asked
Can one enquiry hold quotes from several carriers? +
Yes. The risk is captured once and each insurer quote sits against it with its own premium, excess, cover level, terms and commission. Winning asks which quote was taken and why, and losing asks the same question the other way round. Those two answers are what make next yearโs market exercise faster.
Does it handle instalments and mid-term changes? +
Yes. Instalment plans split the premium with the rounding remainder placed on the first instalment rather than left unallocated. An endorsement records what changed and when it took effect, pro rates the annual cost over the days remaining, and works out the commission on the adjustment, including a clawback when cover reduces.
Can commission be reconciled against carrier statements automatically? +
Partly, and honestly it depends on the carrier. Where an insurer sends a structured file we import it and match line by line. Where it sends a PDF, someone still keys it, but the matching and the shortfall flagging are automatic after that. We confirm which of your carriers are which during discovery, because it changes the effort estimate materially.
We run Salesforce or HubSpot today. Do we have to replace it? +
Not necessarily. Either the existing CRM stays for prospecting and we sync contacts and opportunities into Odoo, or the pipeline moves onto Odoo so the renewal opportunity and the policy record are the same object. The second is usually better for brokers, because a renewal is not really a new lead.
What about the compliance requirements in our market? +
They are configuration, not code, and we do not guess them. Which disclosures must exist before cover incepts, what has to appear on a policy document and what returns you have to produce are agreed with your compliance lead during discovery. Country-specific accounting and invoicing requirements are handled through our localization work.