Selectsys RQB Integration for Insurance Premium Accounting

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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

No. Premium Accounting integrates with Selectsys RQB and does not replace it.
Yes. Bound premium flows directly from RQB into Premium Accounting without manual re-entry.
Yes. Premium Accounting tracks downstream changes and applies accounting logic automatically.
Yes. It provides traceability from bind to invoice to payment to ledger posting.

Modern Premium Accounting for P&C MGAs and Wholesalers

Accurate allocations, full traceability, and audit-ready reporting - without agency accounting workarounds.

Request a Demo See How Premium Accounting Fits Your Stack

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