Insurance Premium Accounting Software
Manage premium accounting from policy transaction through billing, receivables, payments, trust accounting, commissions, company payables, carrier settlements, reconciliation, financial reporting, and general ledger synchronization. Built for agencies, MGAs, wholesale insurance brokers, program administrators, and carriers.
Insurance Premium Accounting Built for Insurance Organizations
General accounting software records summarized financial transactions. Premium Accounting manages the policy-level insurance financial activity that creates those transactions. Automate premium billing, receivables, payments, trust accounting, commissions, company payables, carrier settlements, reconciliation, journal entries, and financial reporting through one insurance-native premium accounting platform.
Why Insurance Organizations Need Premium Accounting Software
Insurance accounting is fundamentally different from general business accounting because every policy transaction can create premium, receivable, payable, commission, trust, settlement, reconciliation, and reporting activity.
Insurance organizations manage:
- Premium Billing
- Agency Bill
- Direct Bill Accounting
- Installment Schedules
- Premium Receivables
- Customer and Retail Agent Payments
- Unapplied Cash
- Trust Accounting
- Commission Accounting
- Company Payables
- Carrier Settlements
- Return Premium
- Additional Premium
- Carrier Statement Reconciliation
- Financial Reporting
- Month-End Close
General accounting software was not designed to maintain policy-level insurance accounting detail across billing, payments, receivables, payables, commissions, trust balances, settlements, and reconciliation. Premium Accounting provides the insurance-specific subledger required to manage these workflows while the existing accounting system remains the General Ledger. Learn more about the Insurance Accounting Platform, Insurance Premium Subledger.
Built Specifically for Insurance
Premium Accounting provides one connected platform for managing policy-level insurance accounting and financial operations across the entire premium lifecycle.
Manage:
- Premium Billing
- Insurance Invoicing
- Agency Bill Accounting
- Direct Bill Accounting
- Accounts Receivable
- Accounts Payable
- Payment Tracking
- Cash Application
- Unapplied Cash
- Trust Accounting
- Commission Accounting
- Company Payables
- Carrier Settlements
- Premium Reconciliation
- Journal Entry Automation
- Financial Reporting
- General Ledger Synchronization
- Audit Trails
Instead of moving policy and financial information between spreadsheets, policy systems, payment tools, bank records, and the general ledger, Premium Accounting keeps premium activity connected through one insurance-native accounting workflow. Learn more about Insurance Accounting Automation, Insurance Financial Automation, and Insurance Workflow Automation.
A Connected Premium Accounting Workflow
Policy Transaction Created
Premium Accounting Transaction Created
Invoice or Receivable Created
Payment Received
Cash Applied
Commission Calculated
Company Payable Created
Trust Balance Updated
Carrier Settlement Recorded
Premium Reconciled
Journal Entry Created
General Ledger Synchronized
Financial Reports Updated
Every policy-level financial event remains connected from premium billing and collection through commissions, company payables, carrier settlements, reconciliation, accounting, and financial reporting.
Insurance Premium Subledger
Insurance Premium Subledger operates as the insurance premium subledger between policy operations and the general ledger. The subledger maintains detailed policy-level financial activity including premium, fees, taxes, receivables, payments, commissions, company payables, return premium, trust balances, settlements, and reconciliation results. Summarized accounting activity can then synchronize with the organization's general ledger using Insurance Journal Entry Automation.
Manage Trust Accounting, Commissions & Carrier Settlements
Agencies, MGAs, wholesalers, and program administrators may manage premium funds, commissions, fees, taxes, return premium, and carrier obligations across multiple policies, programs, and entities. Premium Accounting supports trust accounting workflows, fiduciary balances, commission accounting, company payables, carrier settlements, financial controls, and policy-level audit trails.
- Trust Account Balances
- Fiduciary Premium Funds
- Agency Commissions
- Producer Commissions
- MGA Commissions
- Company Payables
- Carrier Settlements
- Fees and Taxes
- Return Premium
- Settlement Exceptions
- Audit Trails
- Financial Controls
Learn more about Commission Accounting Software, Insurance Accounts Payable Software, Trust Reconciliation Checklist, Insurance Commission Reconciliation Checklist.
Automate Premium Reconciliation
Premium Accounting connects policy transactions, invoices, payments, receivables, company payables, commissions, carrier statements, trust balances, bank activity, and general ledger records. Automated reconciliation and exception management help accounting teams identify discrepancies faster and reduce manual month-end work.
- Premium Reconciliation
- Agency Bill Reconciliation
- Direct Bill Reconciliation
- Payment Reconciliation
- Carrier Statement Reconciliation
- Company Payable Reconciliation
- Commission Reconciliation
- Trust Reconciliation
- Bank Reconciliation
- Month-End Reconciliation
Learn more about Insurance Reconciliation Software.
Works Alongside Your Accounting System
Premium Accounting is not designed to replace the general ledger. It serves as the insurance premium accounting subledger that maintains detailed policy-level financial activity while the existing accounting system remains the general ledger.
Supported accounting systems include:
- QuickBooks Online
- Xero
- Sage
- Workday
Policy-level premium activity remains inside Premium Accounting while summarized journal entries and financial transactions synchronize with QuickBooks Online, Xero, Sage, or Workday. This gives insurance organizations detailed operational accounting without forcing them to replace the existing General Ledger.
Better Visibility Into Insurance Financial Operations
Monitor:
- Written Premium
- Billed Premium
- Collected Premium
- Premium Receivables
- Accounts Receivable Aging
- Unapplied Cash
- Company Payables
- Trust Balances
- Commission Income
- Producer Commissions
- Carrier Settlements
- Return Premium
- Reconciliation Exceptions
- Program-Level Financial Activity
- Entity-Level Financial Activity
- Month-End Close Status
Controllers, CFOs, accounting managers, and financial operations teams gain real-time visibility into premium movement, receivables, payables, commissions, trust balances, settlements, reconciliation exceptions, and month-end close across the organization. Learn more about Insurance Financial Reporting Software.
Standardize Controller and Accounting Workflows
Premium Accounting helps controllers and accounting teams establish repeatable daily, weekly, reconciliation, settlement, and month-end procedures. Use the following insurance accounting playbooks to strengthen financial controls, improve close readiness, and standardize accounting operations.
Insurance Controller Daily Checklist
Standardize daily cash, premium, receivable, payable, exception, and reconciliation reviews.
Insurance Controller Weekly Checklist
Review aging, unapplied cash, carrier obligations, commissions, trust balances, and unresolved accounting exceptions.
Insurance Month End Close Checklist
Organize reconciliation, journal entries, accruals, financial reporting, exception resolution, and close signoff.
Premium Reconciliation Checklist
Reconcile policy transactions, premium billed, payments, receivables, payables, and general ledger balances.
Trust Reconciliation Checklist
Reconcile trust bank activity, fiduciary balances, premium funds, company payables, and carrier settlements.
Insurance Carrier Settlement Checklist
Validate premium, commissions, fees, taxes, return premium, company payables, and carrier settlement activity.
Insurance Commission Reconciliation Checklist
Reconcile commission income, producer commissions, deductions, payable balances, and settlement records.
Insurance Accounting Modernization Roadmap
Plan the transition from spreadsheets and disconnected systems to automated premium accounting, reconciliation, reporting, and general ledger integration.
Built for Insurance Organizations
Insurance Agencies
Automate premium billing, receivables, payments, reconciliation, journal entries, and financial reporting without replacing QuickBooks, Xero, Sage, or Workday.
Managing General Agencies
Manage premium accounting, trust balances, commissions, company payables, carrier settlements, and reconciliation across multiple programs and carriers.
Wholesale Insurance Brokers
Centralize retail agent receivables, premium accounting, commissions, company payables, settlements, and agency bill reconciliation.
Program Administrators
Manage program-level premium, billing, trust accounting, commissions, carrier obligations, reconciliation, and financial reporting.
Insurance Carriers
Improve delegated authority premium reporting, carrier statement reconciliation, settlement visibility, and financial controls across programs and distribution partners.
Why Insurance Organizations Choose Premium Accounting
- Insurance Premium Subledger
- Policy-Level Accounting
- Agency Bill Accounting
- Direct Bill Accounting
- Premium Receivable Automation
- Trust Accounting
- Commission Accounting
- Company Payable Management
- Carrier Settlement Tracking
- Premium Reconciliation
- Journal Entry Automation
- General Ledger Integration
- Financial Reporting
- Controller Dashboards
- Audit Trails
- Month-End Close Automation
Modernize Insurance Accounting Operations
Replace disconnected spreadsheets, manual reconciliations, and generic accounting workflows with insurance-native accounting infrastructure built for MGAs, wholesalers, program administrators, agencies, brokers, and carriers.