Automate premium billing across new business, renewals, endorsements, audits, cancellations, installments, additional premium, and return premium while keeping receivables, reconciliation, commissions, company payables, accounting, and financial reporting connected.
Insurance premium billing is more than generating invoices. Every policy transaction can create a billing, receivable, payable, commission, reconciliation, and accounting event. Premium Accounting helps agencies, MGAs, wholesale insurance brokers, program administrators, and carriers automate premium invoicing, installment billing, receivables, payment tracking, commissions, company payables, reconciliation, accounting, and financial reporting through one connected insurance-native platform.
Unlike traditional invoicing, insurance premium billing must support policy activity throughout the customer lifecycle.
Organizations regularly manage:
Every premium billing event affects receivables, payments, commissions, company payables, carrier settlements, reconciliation, accounting, and financial reporting. Premium Accounting keeps these policy-level financial workflows connected automatically throughout the policy lifecycle.
Premium Accounting automates premium billing from the original policy transaction through receivables, payment application, company payables, carrier settlement, reconciliation, and general ledger synchronization.
One connected workflow from policy transaction through premium billing, receivables, commissions, carrier settlement, reconciliation, and accounting.
Support multiple billing models including:
Premium Accounting supports agency bill premium billing and accounting workflows. Direct bill activity can be recorded, tracked, reconciled, and reported through commission accounting, carrier statement reconciliation, and financial reporting workflows.
Every premium billing event automatically updates:
Connected financial operations reduce duplicate data entry, improve transaction accuracy, strengthen audit trails, and provide accounting teams with complete visibility into premium receivables, commissions, company payables, settlements, and reconciliation.
Premium billing does not end when payment is collected. Agencies, MGAs, wholesalers, and program administrators must calculate commissions, separate fees and taxes, determine net premium, create company payable obligations, and settle funds with carriers. Premium Accounting connects gross premium, net premium, agency commissions, producer commissions, MGA commissions, fees, taxes, return premium, company payables, and carrier settlements within the same policy-level accounting workflow.
Learn more about Commission Accounting Software, Insurance Accounts Payable Software, Carrier Settlement Checklist.
Premium Accounting reconciles policy transactions, premium invoices, payments, receivables, commissions, company payables, carrier statements, trust balances, bank activity, and general ledger records. Accounting teams can identify exceptions faster while reducing manual premium reconciliation and month-end close effort.
Insurance billing remains inside Premium Accounting while summarized accounting activity synchronizes with your General Ledger. Learn more about Insurance Reconciliation Software, Premium Reconciliation Checklist, Trust Reconciliation Checklist, Commission Reconciliation Checklist.
Premium Accounting synchronizes billing activity with:
Premium Accounting serves as the insurance premium billing and accounting subledger while QuickBooks Online, Xero, Sage, or Workday remains the general ledger. Policy-level billing, receivables, payments, commissions, company payables, reconciliation results, and journal entries can synchronize with the connected accounting system.
Automate agency bill premium billing, installments, receivables, payments, accounting, and reconciliation while maintaining complete customer account visibility.
Manage premium billing, commissions, company payables, carrier settlements, trust accounting, and reconciliation across multiple programs and carriers.
Centralize retail agent billing, premium receivables, commissions, company payables, settlements, and accounting operations.
Manage program-level premium billing, installments, receivables, commissions, carrier obligations, reconciliation, and financial reporting.
Improve delegated authority premium reporting, bordereaux-related financial visibility, carrier statement reconciliation, and program-level accounting controls.
Replace disconnected spreadsheets, manual reconciliations, and generic accounting workflows with insurance-native accounting infrastructure built for MGAs, wholesalers, program administrators, agencies, brokers, and carriers.