Premium Accounting Resources
Premium Accounting is revenue control infrastructure. For MGAs, wholesalers, and carriers, premium accounting governs how quoted premium becomes booked revenue, how commissions are distributed, how trust balances reconcile, and how financial reporting aligns with policy transactions. When integrated with the RQB rating platform, Expert Insured AMS policy lifecycle management, Insurance BPO execution pods, and CoverPay installment billing infrastructure, premium accounting ensures that every issued, endorsed, canceled, and renewed policy is financially synchronized. This hub connects accounting discipline to operational execution across rating, lifecycle governance, reporting, and revenue control.
Core Premium Accounting Architecture
Insurance Premium Accounting Explained
Explains how rating outputs convert into booked premium, commission entries, trust balances, and financial reporting.
Trust Accounting for MGAs
Details fiduciary handling of premium, segregation of funds, and reconciliation obligations.
Commission and Revenue Control
Commission Tracking in Insurance
Explains structured commission calculation, broker splits, overrides, and accounting synchronization.
Agency Bill vs Direct Bill Accounting
Defines billing structures and how accounting systems handle each model.
Reconciliation and Multi-Entity Structures
Reconciliation Between Rating and Accounting
Explains how premium discrepancies are prevented through structured system integration.
Multi-Entity Accounting for Insurance Groups
Covers intercompany allocation, program segmentation, and consolidated reporting.
Carrier-Level Financial Reporting
Insurance Financial Reporting for Carriers
Explains structured premium, commission, and exposure reporting alignment with carrier requirements.
How Premium Accounting Connects Across the Operating Model
RQB generates structured premium outputs.
- Expert Insured governs issuance and endorsements.
- Insurance BPO executes operational workflows under SLA controls.
- Premium Accounting reconciles and records financial movements.
- CoverPay collects premium and manages installment automation.
When integrated, revenue visibility becomes real time and defensible.
Control Revenue with Structured Premium Accounting
Connected Across the Insurance Lifecycle
Selectsys operates as a connected insurance infrastructure. Each component supports a different part of the policy lifecycle while remaining fully connected inside one operating system.
- RQB: Rate, Quote, Bind workflows supporting API, Excel, ISO, and AAIS driven rating sources.
- Expert Insured: Full policy lifecycle management including issuance, endorsements, renewals, and servicing governance.
- Premium Accounting: Insurance native accounting handling agency bill, direct bill, trust reconciliation, bordereaux, and premium finance workflows.
- CoverPay : Premium collection by Card and ACH for MGAs, wholesalers and carriers, with payment tracking and reconciliation support.
- Insurance BPO: Embedded operational execution across submissions, underwriting support, endorsements, renewals, accounting assistance, and policy servicing.
Each capability can operate independently, or connect with the others as the operation requires.
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