The verdict in three sentences
A 30-person brokerage managing 8,000 policies, here a Dakar firm used as a benchmark for London buyers, loses renewals every year because reminders go out late and loses commissions because nobody reconciles them with insurers. Custom software at 15,000,000 to 35,000,000 FCFA (about 23,000 to 53,000 EUR) covers portfolio, renewals, claims, commissions and a client extranet, with audit trails compliant with the regional CIMA Code (the FCA plays that role in London). The realistic target is 12% more renewals and claims tracking your corporate clients can follow online.
The detailed budget for broker software in 2026
European broker platforms exist, but they handle local specifics poorly: CIMA-zone insurers, premiums collected in cash, Wave or Orange Money, SME vehicle fleets, group health cover with member lists that change monthly. A custom build fits your actual book.
| Module | Scope | 2026 budget (FCFA) | Timeline |
|---|---|---|---|
| Portfolio and policies | Clients, contracts, endorsements, fleets, health members | 3,500,000 to 7,000,000 | 4 to 6 weeks |
| Renewal schedule and reminders | Alerts at D-60, D-30, D-7, SMS, email, WhatsApp | 2,000,000 to 4,500,000 | 3 weeks |
| Claims management | Notification, documents, loss adjusting, insurer follow-up, settlement | 3,500,000 to 8,000,000 | 5 to 7 weeks |
| Commissions and reconciliation | Rates by insurer and line, statements, variances | 2,500,000 to 6,000,000 | 4 weeks |
| Corporate client extranet | Certificates, open claims, receipts, payment | 2,500,000 to 6,500,000 | 4 to 5 weeks |
| CIMA compliance and reporting | Transaction log, AML/CFT, regulatory statements | 1,000,000 to 3,000,000 | 2 to 3 weeks |
| Hosting and maintenance | Servers, backups, support | 60,000 to 150,000 / month | Ongoing |
A first lot (portfolio, renewals, claims) around 15,000,000 FCFA is usually enough to capture the main gains in 4 months. The rest is added afterwards.
What automated reminders change
Out of 8,000 policies, most renew once a year. A brokerage chasing renewals by hand from a spreadsheet typically misses 10 to 15% of them or calls too late, when the client has already been approached by a competitor or directly by the insurer.
| Indicator | Manual handling | With the software | 2026 order of magnitude |
|---|---|---|---|
| Renewal rate | 78% | 87 to 90% | +12% in relative terms |
| Renewals chased at D-30 | 40 to 55% | 100% | Automatic |
| Average motor claim handling time | 45 to 60 days | 25 to 35 days | -40% |
| Unclaimed commission variances | 3 to 6% of commissions | Under 1% | Monthly reconciliation |
| Time to issue a certificate | 20 to 40 minutes | Under 2 minutes | Extranet |
| "Where is my claim?" client calls | 150 to 250 / month | 40 to 70 / month | Online tracking |
The claim is the broker's moment of truth. A corporate client who sees the progress of the file (adjuster report received, insurer offer, settlement date) renews far more readily, even if the insurer's own timeline does not change.
CIMA compliance and data protection
The CIMA Code requires intermediaries to keep registers, segregate funds collected on behalf of insurers and apply anti-money-laundering due diligence. The software must therefore log every collection and every remittance, keep client identification documents and produce the statements requested during an inspection. On personal data, Senegal's law 2008-12 and its regulator, the CDP, apply, especially for health data in group contracts: role-based access, encryption and controlled hosting belong in the specification from day one. A London brokerage would map the same requirements to FCA client money rules and UK GDPR.
Mini case study
Mr Fall, managing partner of a brokerage in Dakar's Plateau district, manages 8,000 policies with an average premium of 420,000 FCFA, i.e. 3.36 billion FCFA in premiums. With an average commission rate of 14%, his firm earns about 470 million FCFA a year. His renewal rate is 78%.
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He invests 24,000,000 FCFA in the software, plus 110,000 FCFA a month for hosting. If renewals rise to 87%, 9 points more, he keeps about 720 extra policies a year, i.e. 302 million FCFA in premiums and 42 million FCFA in commissions. Add recovered commission variances, about 3% of 470 million, i.e. 14 million FCFA. The project pays back in about 5 months, from the first full renewal cycle.
FAQ
How much does custom broker software cost?
Between 15,000,000 and 35,000,000 FCFA (about 23,000 to 53,000 EUR) depending on modules, plus 60,000 to 150,000 FCFA a month for hosting and maintenance. A first lot around 15,000,000 FCFA covers portfolio, renewals and claims.
Can the software collect premiums via Wave or Orange Money?
Yes, the extranet can offer payment of receipts via Wave, Orange Money or card, with automatic reconciliation. Fees run around 1% on Wave and are logged for the fund segregation required by the CIMA Code.
Can we migrate our existing Excel data?
Yes, migrating 8,000 policies and 3 years of claims history takes 2 to 3 weeks and is included in the budget. Duplicates are cleaned before import.
Does the software talk to insurers?
It imports insurer commission and claims statements in Excel or CSV format and can connect by API when the insurer offers one. Monthly reconciliation takes under an hour.
How long until go-live?
Allow 4 months for the first lot, then 2 to 3 months for commissions and the extranet. A 2-day training for the 30 staff is included.
Let's scope your project. Portfolio, renewals, claims and commissions for your brokerage: first lot from 15,000,000 FCFA, go-live in 4 months, compliance built in. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
