Premium Accounting is an insurance accounting platform that helps agencies, MGAs, wholesalers, program administrators, and insurance carriers automate premium accounting, billing, payments, trust accounting, reconciliation, commissions, carrier settlements, financial reporting, and insurance financial operations through a single insurance-native platform.
Premium Accounting is designed specifically for insurance organizations that manage premium accounting, trust accounting, carrier settlements, commissions, reconciliation, billing, payments, and financial reporting. Whether you are an independent insurance agency, managing general agency (MGA), wholesale insurance broker, program administrator, or insurance carrier, Premium Accounting provides a unified insurance accounting platform built for insurance financial operations.
Insurance agencies, MGAs, wholesalers, program administrators, and insurance carriers often manage billing across multiple systems, spreadsheets, accounting platforms, and manual workflows. Premium Accounting centralizes billing operations by allowing agencies to generate invoices, manage installment schedules, track outstanding balances, and maintain complete visibility into customer receivables.
Whether managing agency bill, direct bill, installment billing, premium finance, renewals, endorsements, cancellations, policy fees, inspections, audits, return premium, or additional premium, insurance organizations can manage billing through a unified insurance accounting platform designed specifically for insurance operations.
Generate professional insurance invoices for agencies, MGAs, wholesalers, program administrators, and insurance carriers directly from policy transactions, billing events, endorsements, renewals, audits, inspections, installment schedules, and premium finance activities.
Invoices can be created for policies, endorsements, installments, fees, audits, inspections, and renewals. Agencies can monitor invoice status, payment activity, balances due, and customer payment history from a centralized dashboard.
Integrated workflows help streamline operations while reducing manual administrative work commonly associated with insurance invoicing.
Learn more about our Insurance Invoicing Software and Insurance Billing Software solutions.
Premium Accounting integrates with CoverPay to help agencies, MGAs, wholesalers, and insurance organizations collect premium through ACH, credit card payments, payment links, recurring payments, installment payments, and secure online payment portals.
Each invoice can include a secure payment link that allows customers to submit payments online. Payment activity is automatically recorded and synchronized with billing and accounting records.
Agencies can improve collection rates while providing customers with a modern payment experience.
Additional capabilities include recurring payments, installment plans, payment tracking, failed payment recovery, and customer payment history.
Explore our Insurance Payment Software capabilities.
Many insurance policies require installment billing schedules and recurring payment plans.
Premium Accounting allows agencies to create flexible installment schedules, track balances due, manage payment activity, and maintain visibility into outstanding receivables.
Installment workflows can be configured to support agency-specific billing requirements while maintaining accurate accounting records throughout the policy lifecycle.
Premium Accounting automates premium accounting, trust accounting, billing, payments, cash application, journal entries, commission accounting, carrier settlements, premium reconciliation, financial reporting, and month-end close. Insurance organizations reduce manual processing while improving operational efficiency, financial visibility, and accounting accuracy across the entire premium lifecycle.
Premium Accounting automates insurance reconciliation across premium reconciliation, trust reconciliation, carrier statement reconciliation, company payable reconciliation, agency bill reconciliation, direct bill reconciliation, commission reconciliation, bank reconciliation, and month-end reconciliation. Automated matching and exception management help accounting teams resolve discrepancies faster while reducing manual effort.
Monitor premium activity, trust balances, carrier settlements, commissions, receivables, payables, reconciliation status, financial reporting, controller dashboards, executive dashboards, CFO dashboards, and operational KPIs through a centralized insurance financial reporting platform designed specifically for insurance organizations.
Insurance agencies, MGAs, wholesalers, program administrators, and carriers often use accounting systems such as QuickBooks, Xero, Sage, NetSuite, Workday, Microsoft Dynamics, and other enterprise financial platforms.
Premium Accounting synchronizes billing, payment, and accounting activity with existing accounting platforms while allowing agencies to maintain current financial processes.
Agencies can automate invoice creation, payment updates, accounting transactions, and reconciliation workflows across connected systems.
Learn more about our QuickBooks Insurance Integration and Xero Insurance Integration capabilities.
Premium Accounting is designed for insurance organizations that need more than a generic accounting platform.
The system supports billing, invoicing, payments, accounting, reconciliation, and financial workflows commonly used by:
Organizations using spreadsheets, QuickBooks, Xero, Sage, NetSuite, Microsoft Dynamics, or disconnected accounting systems can modernize insurance financial operations through a single insurance-native accounting platform supporting agencies, MGAs, wholesalers, program administrators, and carriers.
Replace disconnected spreadsheets, manual reconciliations, and generic accounting workflows with insurance-native accounting infrastructure built for MGAs, wholesalers, program administrators, agencies, brokers, and carriers.