Expert Insured joins the Selectsys Family of Solutions for MGAs, MGUs, Wholesalers, and Carriers Read the Press Release

Overview

This capability centralizes policy premium receivables, producer payables, carrier settlements, and pass-through taxes and fees into one reconciled subledger. It ties every invoice, receipt, commission, and settlement line back to the policy and transaction that created it, so cash flow is always clear and auditable.

Built into Expert Insured’s Integrated Accounting, it gives MGAs, MGUs, wholesalers, and carriers timely visibility and control over who owes what, when, and why. As an insurance operations platform, Expert Insured keeps financials aligned with the policy lifecycle to reduce leakage and speed close.

Why it Matters

  • Improves cash flow with real-time aging by policy, producer, and carrier
  • Reduces leakage through strict policy-linked controls and auditable adjustments
  • Pays producers accurately and on time with rules-driven commission statements
  • Accelerates financial close with automated postings and reconciliations

Who it is For

How it Works

  • Policy-linked AR and AP subledgers that sync with Policy Management and adjust through the full policy lifecycle
  • Automated receivable creation from quote to bind, endorsements, audits, and cancellations, tied to upstream rating and quote workflows
  • Rules-driven producer commissions with tiers, overrides, and adjustments, generating balanced payables and statements
  • Carrier payables, net settlements, and compliant reports with one-click bordereaux generation
  • Cash application with partial and unapplied receipts, installment handling, and cross-policy matching
  • Journal entry creation and approvals with configurable controls using Journal Entry Automation
  • Clean mapping to your GL using Insurance-Specific COA Setup and compliant posting via GAAP Accounting Integration

Why Expert Insured is Best for Policy and Producer Receivables and Payables

Expert Insured unifies subledger control with policy context in a single agency management system. Every receivable and payable is created from policy events, governed by configurable rules, and posted through an auditable pipeline to your GL. Commission engines handle complex producer arrangements, while carrier payables and bordereaux run off the same source of truth. Because this capability is native to our insurance management platform, operations and accounting work from one dataset without reconciliations between tools.

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Frequently Asked Questions

It manages policy premium receivables, producer commission payables, carrier net payables, and pass-through items like taxes and fees. Each item is tied to the originating policy transaction for clear auditability.

Commission rules define rates, tiers, and overrides. The system creates payables when revenue is recognized, generates statements, and supports approvals before posting, using Journal Entry Automation.

Yes. Policy changes automatically produce incremental receivables or credits and adjust producer and carrier settlements, leveraging the policy lifecycle.

You can generate compliant bordereaux and settlement reports directly from the subledger, reconcile to cash, and post summaries with controls. See Carrier Bordereaux Generation for details.

Yes. Map policy and producer subledger activity to your GL using Insurance-Specific COA Setup, and post in a compliant manner via GAAP Accounting Integration.

It applies receipts to installments, supports partials and unapplied cash, and allocates across policy items and fees with clear audit trails.

Receivables and payables are created from policy events across Policy Management from quote to bind and renewal. That way, operations and accounting stay aligned without duplicate entry.

AR and AP aging by policy, producer, and carrier; cash application and unapplied cash; commission statements; and settlement summaries. Data can be filtered by line of business and program for quick analysis.