Accounting and Reconciliation BPO for P&C Operations
Where Insurance Operations Meet Financial Accuracy
Accounting in insurance isn’t about spreadsheets, it’s about precision, reconciliation, and compliance.
For MGAs, carriers, and wholesalers, a single mismatch between policy data and carrier statements can throw off entire financials.
Most BPOs stop at data entry. Selectsys goes further. We reconcile every policy, premium, and bordereaux entry inside your AMS, closing the loop between underwriting, billing, and carrier reporting.
This is end-to-end accounting automation for P&C operations, built on real data, not emailed CSVs.
From Premium to Proof: How Selectsys Handles Insurance Accounting
Our embedded teams work inside AMS360, Applied Epic, Expert Insured, or carrier portals, ensuring every number is traceable to its source.
| Accounting Stage | Selectsys Execution |
|---|---|
| Premium Billing | Create invoices, match commissions, sync policy records |
| Cash Application | Post payments, allocate partials, identify unearned revenue |
| Reconciliation | Match direct and agency bill transactions automatically |
| Bordereaux Preparation | Generate, format, and submit accurate carrier reports |
| Suspense Management | Identify, resolve, and report suspense items daily |
| Month-End Close | Automate recurring journal entries and audit documentation |
No manual downloads, no spreadsheet drift, everything lives in your system of record.
AI That Automates Matching and Reconciliation
Selectsys Tech’s AI accounting engine reads ledger data, maps it to policy transactions, and flags mismatches automatically.
- Pattern Recognition: Detects anomalies across carriers and programs.
- Auto-Matching: Pairs payments with policies using rule-based logic.
- Exception Routing: Routes unresolved items to analysts instantly.
- QA Scoring: Assigns accuracy ratings and creates error reports.
This reduces reconciliation time from days to hours and ensures every dollar is accounted for.
Bordereaux Automation for Carriers and MGAs
Bordereaux reports often take days of manual effort. Selectsys automates the entire process:
- Pulls policy and premium data directly from AMS.
- Applies carrier-specific templates and reporting rules.
- Generates and validates bordereaux automatically.
- Submits securely to carriers with complete audit logs.
You deliver clean, compliant bordereaux on schedule, every time.
Suspense and Exception Management
Suspense items are the black holes of insurance accounting. Our automation identifies them immediately:
- Suspense accounts monitored continuously.
- Unapplied payments flagged for follow-up.
- Resolution reports generated automatically.
This transparency reduces write-offs and accelerates cash flow.
Integration Across Operations
Selectsys accounting connects to every workflow in the insurance lifecycle:
- Underwriting: Pulls accurate premium data.
- Policy Admin: Tracks endorsements and mid-term adjustments.
- Renewals: Updates invoice and commission logic automatically.
- Analytics: Feeds into Program Analytics: Measuring What Matters for financial performance tracking.
Everything from quote to reconciliation happens in one connected ecosystem.
Audit and Compliance Confidence
Every transaction we process is audit-ready.
- Timestamps, user IDs, and policy links included automatically.
- Carrier statements matched with full visibility.
- Journal entries stored and indexed for external review.
No more chasing down “who posted that entry”, it’s all in one place.
See how our governance layer extends in Audit, QC, and Compliance as a Service.
Business Impact
MGAs and carriers using Selectsys accounting report:
- 70 % faster reconciliation cycles.
- 95 % reduction in suspense backlog.
- 100 % audit readiness at month-end.
- Real-time premium tracking across carriers and programs.
Financial accuracy becomes operational leverage.
Implementation Timeline
| Phase | Duration | Deliverable |
|---|---|---|
| Discovery & Mapping | 1 week | Carrier and AMS accounting workflow review |
| AI Matching Setup | 1 week | Automated reconciliation configuration |
| QA Calibration | 1 week | Accuracy scoring and exception routing |
| Go Live | 1 week | Fully automated accounting and bordereaux generation |
In four weeks, accounting shifts from manual cleanup to automated precision.
Get Started
Accounting should never be an afterthought, it’s the backbone of insurance operations.
Let Selectsys automate reconciliation, bordereaux, and carrier reporting from inside your AMS.
Request a Demo or Start a Pilot to see how Selectsys delivers accuracy at scale.
Frequently Asked Questions
Can Selectsys handle both direct and agency bill workflows?
Yes. We manage both models with automated posting and reconciliation.
Do you support carrier-specific bordereaux templates?
Yes. Templates are maintained and updated automatically.
How are suspense items tracked?
AI monitors and reports suspense changes daily for quick resolution.
Can accounting link to underwriting data?
Yes. Premium and commission data pull directly from policy records.
How often are reconciliations run?
Daily or weekly depending on client SLAs and volume.
