Premium accounting and reporting for a more profitable insurance business. Built for MGAs and insurers.
Free your team from manual admin, reduce the chance of errors, and build a comprehensive audit and compliance trail, with Insly’s accounting and reporting solution.
Streamline all aspects of your premium accounting with robust controls for direct and agency billing, alongside payments to carriers, reinsurers, and other stakeholders. Multi-currency out of the box, Insly handles single and recurring payments, while automated invoices reduce manual input and the chance of errors. Premiums out are automatically logged when a policy is bound, and carriers are kept up to speed with real-time data.
Create your own reports or use our standard templates, which can be modified to your needs. Third-party business intelligence tools can be connected through open APIs, plus advanced capabilities include the ability to set up a live database replica for full dataset access.
Any data point captured in the system is available for reporting.
Premiums, fees and commissions are captured per risk, providing an accurate view of risk aggregates.
Object-based reports provide exposure insights for property lines.
Sales channel reports provide an overview of distribution channels, GWP, conversion and renewal rates.
Insly’s automated features streamline admin and guarantee accuracy.
Insly creates invoices automatically from policy data for 100% accuracy. Prepayment balances + ledger entries help manage partially and overpaid invoices. Automated invoice reminders and policy cancellation for non-payment reduce admin headaches.
Insly’s double entry ledger verifies all data is correct, so you won’t experience any rounding errors, you’ll always have an accurate view of stakeholder commissions and risk shares, and your premium accounts will always add up.
All financial entries on the system are linked to the right account balances, so it’s impossible for unallocated cash to go missing.
Watertight systems and processes ensure you can meet complex compliance demands.
Any action taken by a user, or triggered by an API, is logged and saved for audit purposes.
All policy changes are saved and accessible for reporting and compliance. Ledger design means no information is overwritten as new entries are added.
Ledger design means you can view a policy, premium or claim account at any moment in time. So, it’s easy to answer customer or stakeholder queries about past events.
While Insly handles all insurance specific transactions, we recommend integrating separate tools for non-insurance transactions (payroll, office expenses, etc.) and payment processing. Insly integrates with all general-purpose accounting software providers, third-party payment processors, regtech solutions, and more. Contact us for further details.
Make a plan and create your first product draft in a test environment in 2-3 weeks.
Add and combine key elements such as underwriting rules, templates and automations to create your ideal solution in 1-3 months
Your platform can be fully operational and ready to transform your business in 3+ months.
