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Overview

Insurance-Specific COA Setup lets you design and govern a chart of accounts purpose-built for premium, fees, taxes, commissions, pass-throughs, and trust activity. It aligns every policy, endorsement, cancellation, and settlement event to the right GL accounts, so finance can close faster with fewer reclasses.

Embedded within Integrated Accounting, this capability helps MGAs, MGUs, wholesalers, and carriers standardize accounting across programs, states, and entities. Expert Insured, as an insurance management platform and insurance management system, ensures accounting reflects the realities of delegated authority and carrier reporting.

Why it Matters

  • Reduces rework with posting rules that map insurance transactions to the correct accounts the first time
  • Accelerates close and audits through standardized account structures and built-in validations
  • Supports GAAP alignment and ERP tie-outs with consistent subledger definitions across entities and currencies
  • Improves carrier, producer, and program reporting by segmenting accounts by line of business, carrier, and state

Who it is For

How it Works

  • Prebuilt insurance COA templates for MGA, wholesaler, and carrier models, configurable to your naming, numbering, and hierarchy
  • Dimension-driven design that segments by carrier, program, line of business, state, producer, and cost center for granular financial reporting
  • Event-based posting rules tied to the policy lifecycle from quote to bind, endorsements, cancellations, and renewals via Policy Management and the Policy Lifecycle Overview
  • Automated subledger postings for premium, commissions, fees, and taxes integrated with Policy and Producer Receivables and Payables
  • Straight-through journal creation with effective dating and balancing controls using Journal Entry Automation
  • GAAP-ready mapping and export options that align to your ERP through GAAP Accounting Integration
  • Bordereaux-ready account structures that drive clean carrier statements with Carrier Bordereaux Generation
  • Controlled change management with versioning, sandbox testing, and import tools for migrations and opening balances

Why Expert Insured is Best for Insurance-Specific COA Setup

Expert Insured embeds insurance accounting into the transaction fabric, not just the GL export. Our insurance operations platform uses a subledger-first approach, mapping every policy event to the correct accounts with guardrails, validations, and audit trails. Prebuilt templates for delegated authority, contingent commissions, and trust workflows shorten implementation while staying fully configurable.

Because the COA is connected to rating, quoting, binding, and settlements, finance inherits clean data with less manual mapping. Tight alignment with GAAP integrations, producer settlements, and carrier reporting delivers consistent results at scale.

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Frequently Asked Questions

A generic COA lacks structures for premium, commissions, fees, taxes, producer payables, and trust activity. Our setup provides accounts and posting rules tailored to insurance flows, then connects them to subledgers in Integrated Accounting for accurate reporting and close.

Yes. Use the import tools to load your current account list, map it to templates, and test in a sandbox. You can iterate safely, then promote to production with audit trails and effective dating.

Posting rules trigger from lifecycle events such as quote, bind, endorsement, cancellation, and renewal. They are configured within Policy Management and automated through Journal Entry Automation.

Yes. Map accounts and dimensions to your ERP structure and export or integrate using GAAP Accounting Integration. You can reconcile subledgers to the GL with configurable reports.

Subledgers maintain policyholder and producer receivables and payables, posting to the right accounts in real time. Review and settle using Policy and Producer Receivables and Payables.

Yes. The COA supports dimensions for carrier, program, state, and line of business. This enables detailed financial and operational reporting, as well as clean carrier statements with Carrier Bordereaux Generation.

Use the sandbox to trial new accounts and posting rules against sample transactions from quote to bind and through endorsements. Validate entries via Journal Entry Automation before promoting changes.

Most organizations configure templates, mappings, and initial posting rules within weeks, then refine during UAT. Timelines vary by entity count and ERP integration scope with GAAP Accounting Integration.