Now live: P&C insurance accounting for MGAs and wholesalers, plus AAIS commercial lines platforms.

P&C Insurance Accounting AAIS Commercial Lines

Reconciliation Transformation for a High Volume Wholesale Broker

How Selectsys Premium Accounting and Insurance BPO eliminated backlog, reduced reconciliation risk, and aligned rating, policy issuance, and premium flows.

Talk to Our Team Premium Accounting

Client Profile

A high volume wholesale broker placing multi carrier commercial risks across specialty lines. Monthly premium volume exceeded seven figures with heavy endorsement activity and commission adjustments.

Operational Risks

Reconciliation mismatches between rating output and billed premium
Commission disputes across carriers
Download reconciliation backlog exceeding 2 weeks
Spreadsheet dependency for month end close
Limited visibility across underwriting, policy issuance, and accounting

Insurance Accounting BPO

Integrated Deployment

Selectsys deployed Premium Accounting integrated with Rating infrastructure, Expert Insured, and Insurance BPO execution teams.

Transformation Process

Phase 1: Reconciliation engine alignment between rating output and ledger entries
Phase 2: Commission automation and producer statement normalization
Phase 3: Full monthly close workflow standardization

Measured Impact

Reconciliation backlog reduced by 80 percent
Commission variance reduced by 50 percent
Month end close reduced from 12 days to 5 days
Download reconciliation cleared within 48 hours
Financial audit readiness improved

Ecosystem Reinforcement

By aligning rating, policy issuance, premium accounting, and BPO execution, the broker achieved a closed loop operating model with measurable financial control.