Selectsys RQB Integration for Insurance Premium Accounting
For MGAs and wholesalers, the hardest accounting problems start at bind. Selectsys RQB manages real-time rate, quote, and bind workflows across carriers. Premium Accounting integrates natively with Selectsys RQB to ensure premium flows cleanly from bind to invoice to accounting without re-keying, spreadsheets, or reconciliation gaps. This creates a direct, auditable path from underwriting decisions to financial outcomes.
Why the Gap Between Bind and Accounting Creates Risk
In many organizations, premium data changes hands multiple times after bind.
Common problems include:
- Rated premium re-entered into accounting systems
- Differences between bound premium and invoiced premium
- Manual handling of endorsements, cancellations, and return premium
- Spreadsheet logic to reconcile what was quoted versus what was collected
These gaps introduce errors that surface at close, during audits, or in carrier reporting.
How Premium Accounting Works With Selectsys RQB
Premium Accounting integrates with Selectsys RQB as a native downstream accounting engine.
The integration works as follows:
- Rate, quote, and bind data is captured in Selectsys RQB
- Bound premium and transaction events flow directly into Premium Accounting
- Insurance-specific accounting logic is applied in a dedicated premium subledger
- Invoices, payments, allocations, and balances are tracked centrally
- Clean, structured results are synchronized to your accounting ledger
Selectsys RQB continues to manage underwriting and bind. Premium Accounting manages premium accounting.
End-to-End Visibility From Quote to Close
By integrating Selectsys RQB with Premium Accounting, organizations gain:
- A single source of truth for bound premium
- Direct traceability from quote and bind to invoice and payment
- Accurate handling of endorsements, cancellations, and adjustments
- Fewer discrepancies between operations and accounting
- Audit-ready transaction history without manual reconstruction
This eliminates one of the most error-prone handoffs in insurance operations.
Designed for MGA and Wholesale Program Operations
This integration is particularly valuable for organizations that:
- Bind high volumes of business across carriers
- Operate delegated authority or program business
- Manage complex premium flows after bind
- Need confidence in accounting without slowing underwriting
Premium Accounting ensures that operational speed does not come at the expense of financial accuracy.
Works Alongside Your Existing Systems
The Selectsys RQB integration fits cleanly into your existing stack.
- Selectsys RQB handles rate, quote, and bind
- Your agency or MGA management system handles operations
- Premium Accounting handles premium accounting
- Your accounting ledger handles reporting and close
Premium Accounting does not replace management systems or accounting ledgers. It connects them with insurance-specific logic.
To see how this fits into broader architectures, review how Premium Accounting integrates with insurance management systems and accounting ledgers.
Accounting Ledger Support
Premium Accounting synchronizes insurance-ready results downstream of RQB to the accounting ledger you already use.
Supported accounting ledgers include:
- QuickBooks Online
- NetSuite
- Xero
- Workday
This ensures rate-to-bind automation extends all the way through financial reporting and close.
Who This Integration Is For
The Selectsys RQB integration is ideal for organizations that:
- Use Selectsys RQB for rate, quote, and bind
- Want premium to flow directly into accounting
- Rely on spreadsheets to reconcile bound versus billed premium
- Need stronger auditability without slowing operations
It is most commonly adopted by MGAs and wholesalers evaluating insurance premium accounting software to modernize end-to-end premium workflows.
FAQs
Modern Premium Accounting for P&C MGAs and Wholesalers
Accurate allocations, full traceability, and audit-ready reporting - without agency accounting workarounds.
How This Service Connects to the Core Platform
This service operates within the connected Selectsys insurance infrastructure. Operational execution is fully aligned with the technology backbone.
- RQB: Rating and bind infrastructure for commercial and specialty lines.
- Expert Insured: Policy lifecycle system managing issuance, endorsements, and renewals.
- Premium Accounting: Insurance native accounting for agency bill, direct bill, trust, and reconciliation.
- CoverPay : Premium collection by Card and ACH for MGAs, wholesalers and carriers, with payment tracking and reconciliation support.
- Insurance BPO: Embedded teams executing submissions, underwriting support, servicing, and compliance.
Operational services are most effective when integrated directly with the core platform capabilities.
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