Does Premium Accounting replace Vertafore MGA Systems?

No. Premium Accounting integrates with Vertafore MGA Systems and does not replace it.

Will Vertafore MGA Systems users need to change their workflows?

No. MGA Systems continues to manage operations while Premium Accounting supports accounting teams.

Can Premium Accounting handle MGA-specific premium complexity?

Yes. Premium Accounting is built for MGA premium workflows including commissions, installments, and carrier settlement.

Does Premium Accounting reduce spreadsheet usage for MGA accounting teams?

Yes. Premium Accounting replaces spreadsheet-based reconciliation with rules-based, audit-ready accounting.

Vertafore MGA Systems Integration for Insurance Premium Accounting

Many MGAs rely on Vertafore MGA Systems to manage programs, policies, and operational workflows. MGA Systems is widely used across the industry.What it is not designed to do is manage complex insurance premium accounting at scale. Premium Accounting integrates with Vertafore MGA Systems to allow MGAs to keep their management system while running insurance-specific premium accounting without spreadsheets or manual reconciliation.

Why Premium Accounting Breaks Down Inside MGA Systems

Vertafore MGA Systems is built to support MGA operations.

It is effective for:

Policy administration
Program and carrier workflows
Endorsements and servicing

Premium accounting introduces challenges that MGA Systems is not designed to solve:

Agency bill and direct bill accounting in parallel
Partial and out-of-order payments
Installments, premium finance, and return premium
Allocation of commissions, fees, and taxes
Reconciliation and audit traceability

As a result, accounting teams often export data from MGA Systems and rebuild logic in spreadsheets.

How Premium Accounting Works With Vertafore MGA Systems

Premium Accounting integrates with Vertafore MGA Systems as an external premium accounting engine.

The integration model works as follows:

Policy and transaction data is ingested from MGA Systems
Insurance-specific premium accounting logic is applied in Premium Accounting
Invoices, payments, allocations, and balances are tracked in a dedicated premium subledger
Clean, structured results are synchronized to your general ledger

MGA Systems continues to manage operations. Premium Accounting manages premium accounting. To understand why this approach works, see how organizations replace insurance accounting without changing their management system.

What Gets Tracked Outside of MGA Systems

Premium Accounting tracks the financial detail that accounting teams need but operational systems do not provide.

This includes:

Invoice-level premium detail
Payment application and allocation outcomes
Receivables and payables by carrier and producer
Installments, premium finance, and adjustments
Netting and settlement activity
Full transaction history with audit trail

This separation allows MGA Systems data to remain operational while accounting data becomes reliable and explainable.

Designed for MGA Accounting Teams

Accounting teams using Vertafore MGA Systems often struggle with:

Spreadsheet-driven reconciliation
Manual month-end close
Difficulty explaining balances to carriers and auditors

Premium Accounting addresses these challenges by:

Replacing spreadsheet logic with rules-based allocation
Providing transaction-level traceability
Supporting close, audit, and carrier reporting
Reducing operational risk

This gives MGA accounting teams confidence without disrupting operational users.

Works With Your Existing Accounting Ledger

Premium Accounting integrates with the accounting ledger you already use.

Supported ledgers include:

QuickBooks Online
NetSuite
Xero
Workday

Premium Accounting synchronizes insurance-ready results to the ledger, allowing MGA Systems users to maintain clean financial reporting without forcing MGA Systems to act as an accounting platform. For a broader view, see how Premium Accounting integrates with insurance management systems and accounting ledgers.