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Premium Accounting Trust Modernization for a Multi State MGA

How an MGA replaced spreadsheet driven trust accounting and manual bordereaux workflows with Selectsys Premium Accounting integrated with Expert Insured and Insurance BPO execution teams.

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Client Profile

A growing multi state MGA operating across commercial lines with delegated authority programs. The organization managed agency bill and direct bill premium flows, monthly bordereaux submissions, commission statements, and trust reconciliation using spreadsheets and fragmented accounting systems.

Operational Challenges

Trust accounting reconciliations taking 10 to 15 days per month
Manual bordereaux compilation across multiple carriers
Unapplied cash and commission leakage
No unified visibility between policy issuance and premium movement
Audit preparation consuming senior finance resources

Learn more about trust accounting and bordereaux.

Solution Architecture

The MGA deployed Selectsys Premium Accounting integrated with Expert Insured for policy lifecycle synchronization and Insurance BPO execution teams for reconciliation and reporting workflows.

Architecture components:

Implementation Timeline

30 days - Migration of trust balances and mapping of agency bill versus direct bill flows
60 days - Live reconciliation engine with automated exception queues
90 days - Full bordereaux automation and monthly attestation reporting

Measured Outcomes

Trust reconciliation cycle reduced from 15 days to 4 days
Bordereaux reporting accuracy improved to above 99 percent
Unapplied cash reduced by 40 percent
Commission reporting cycle reduced by 60 percent
Audit preparation time reduced by 70 percent

Ecosystem Impact

Trust accounting modernization enabled tighter underwriting controls, improved carrier reporting, and real time policy to premium alignment across RQB and Expert Insured deployments.