Our Insurance Accounting & Bookkeeping Services

Insurance companies deal with large volumes of financial transactions, and operate in a highly regulated industry. Accounting for insurance agencies is therefore critical as they need accurate and reliable accounting to track these transactions, maintain proper records, and provide a clear picture of the company’s financial position. They must also comply with specific accounting standards, reporting requirements, and regulations set by regulatory bodies such as the International Financial Reporting Standards (IFRS) and the Financial Accounting Standards Board (FASB).

Insurance Support World’s accounting for insurance agencies solutions offer the entire gamut of specialized financial and accounting services. Our insurance accounting services help ensure the accuracy and integrity of financial data, and also ensure the company’s financial statements and disclosures adhere to regulatory requirements. In addition, our insurance bookkeeping services bring about effective risk management, and enable informed decision-making for our insurance clients, helping maintain their stability while building trust with stakeholders.

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Monthly/Quarterly/Yearly Financial Reports
Preparation Tax Authority Returns
Management Reports
Payroll Processing Services
Fixed Asset Management
Financial Analysis
Profit and Loss Statement
Accounts Payable Services
Accounts Receivable Services
Insurance Data Entry
Carrier Statement Reconciliation
Maintaining General Ledger
Income Statement and Balance Sheet Preparation
Customized Reports
Tax Authority Reconciliation
Retail Agent Reconciliation

Optimize Your Business Growth by Hiring a Team of Experienced Professionals

Insurance Accounting & Bookkeeping Services

Why Choose ISW for Insurance Accounting & Bookkeeping Services?

ISW’s specialization in serving the insurance sector has made us industry experts in insurance accounting services. We bring in-depth knowledge and understanding of the unique accounting requirements and challenges faced by insurance companies. Our experts are familiar with insurance-specific regulations, reporting standards, and best practices.

Being a leading provider of insurance accounting and bookkeeping services, we:

Provide full suite of services tailored to your specific requirements
Ensure accurate and compliant accounting services
Leverage new-age tools and technology to drive solutions
Offer flexible pricing plans to meet your budget
Help bring efficiency, agility and scalability

Our Value Proposition

Outsourcing Experts

Our insurance accounting services team are qualified professionals with extensive experience in insurance accounting specializing in complex accounting tasks and regulatory requirements.

commission plans

While accounting for insurance agencies, we work closely with clients to understand their specific needs and customize our services accordingly.

software tools

We put in place robust and extensive data security measures to protect client data from unauthorized access, breaches, and data loss.

software tools

Our insurance bookkeeping services offer cost-effective options thereby saving clients significant time and money that would be otherwise required to maintain an in-house accounting team.

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Why Insurers Need Outsource Accounting services?

Insurance accounting services have come as a boon for insurance companies. These specialized services provide insurers with expert support in managing their financial operations, help them comply with regulatory requirements, and enable their management to take informed strategic decisions. These go a long way in helping the organizations to navigate the complexities of their industry and achieve financial stability, scalability and future-readiness.

Therefore, by outsourcing accounting tasks to specialized service providers, insurers can:

Focus on their core competencies
Reduce costs
Mitigate risks and ensure regulatory compliance
Stay future-ready
Outsource Accounting services

Testimonials

The ISW insurance accounting services team have been instrumental in helping us manage our insurance accounting processes with accuracy and consistency. Their complete understanding of insurance-specific accounting principles, rules, and regulations, and their attention to detail have been impeccable. We are pleased to see a sizable improvement in our financial reporting accuracy since we began our partnership, and highly recommend their services to any insurance company who are seeking reliable and efficient accounting support
Independent Insurance Agent, Columbia, Maryland
Ever since we began our professional relationship with ISW, our financial operations have become far more efficient and leaner. Their team not only understands the industry-specific challenges of the insurance industry, but also execute customised solutions for our organization. They have led us to significant optimization of costs, resources and time, allowing us to focus on our core business and client services. Their professionalism has made them our trusted partners
P&C Insurance Company, San Antonio, Texas
We have been partners with ISW for several years now, and couldn't be happier with their services. Their team is punctual, responsive, efficient, constantly adapting to our requirements, and going above and beyond to meet our needs. While helping us navigate complex insurance regulations, they have provided valuable insights that have made our processes highly efficient, increased cost-optimization, and made effective use of our resources. We highly recommend their services!
Insurance Carrier, Heathrow, Florida

Latest Blogs

Build your understanding of the insurance worlds’ trends, technology and disruptions

AI in Insurance – A Revolution in the Making
8 Feb, 2024
AI in Insurance – A Revolution in the Making
Artificial Intelligence (AI) was a term coined by emeritus Stanford Professor John McCarthy in 1955. He defined AI as “the science and engineering of making intelligent machines.” Since then, AI has evolved into a multidisciplinary field encompassing various technologies and methodologies that simulate human-like intelligence in machines. AI in the insurance industry is one such...
A Complete Guide to Insurance Back Office Operations
11 Jan, 2024
A Complete Guide to Insurance Back Office Operations
Insurance back-office operations is projected to reach $24.6 billion by 2032, growing at a CAGR of 12.3% from 2023 to 2032, according to a survey by Allied Market Research. We already know that back-office operations are the administrative functions of an organization that are vital for its functioning, but which do not directly contribute to...
Automated Insurance Underwriting: Empowering Insurtech for Scalability
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Automated Insurance Underwriting: Empowering Insurtech for Scalability
Automated insurance underwriting is the process where robotic process automation (RPA) and artificial intelligence (AI) software underwrites the risk of potential clients. — Insider Intelligence It assesses and evaluates insurance applications and determines the associated risk. The significance of automated insurance underwriting is increasing for its transformative impact on efficiency and risk assessment. As it...

Insurance Support World has been a leading provider of insurance accounting services to insurance organizations across the globe. Our best-in-class accounting for insurance agencies have made us their preferred partner through long and complex engagements.

Our team of highly qualified insurance specialists takes pride in serving insurance clients across the globe, including the United States, Canada, the United Kingdom, Australia, and New Zealand. With our extensive experience and expertise in the insurance industry, we have consistently delivered positive business outcomes for our clients.

Outsourcing your insurance bookkeeping to ISW will bring a host of benefits, including:

Operational efficiencies
Increased productivity
Improved customer relations
Adaptability to navigate an ever-changing business landscape
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