Insurance Accounting Services
Insurance accounting services have emerged as a strategic approach for insurance companies, agencies, and brokers around the globe to handle the continually increasing pressure to optimize business efficiency. Cogneesol’s scalable insurance business accounting services take away the burden of staffing & handling in-house bookkeepers and accounting professionals.
We provide a level of dependability, persistence, and competence that is characteristically exclusive to insurance accounting. With a fractional share of an entire accounts division, you will reap the benefits of both the worlds – capabilities as required without any hassle.
Our Insurance Accounting and Bookkeeping Services
Insurance Accounting Services
- Monthly/Quarterly/Yearly Financial Reports
- Preparation Tax Authority Returns
- Management Reports
- Payroll Processing Services
- Fixed Asset Management
- Financial Analysis
- Profit and Loss Statement
Insurance Bookkeeping Services
- 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
We Support Multiple Insurance Accounting Software
With expertise in every Insurance software and platform, our team of highly skilled professionals offer fast learning curves and swift implementation of solutions.
Who We Serve
Property and Casualty
Director and Office
Our Key Differentiators
Best Talent Pool
Engaging our insurance accounting firm will typically give you access to an extensive talent reservoir, useful and ideal for your business to scale up.
Better Use of Time
By outsourcing accounting for your insurance business, you free up your precious time that can be allocated on daily tasks & attracting new customers.
High Accuracy Rate
Outsourcing accounting for insurance agencies or brokers can be advantageous with regards to driving precise results that can be as much as 99.95%.
Never Skip a Payment
No more worries about ‘pending payments’ or ‘delayed invoices.’ Outsourcing accounting services to us means your invoices and payments go out on time.
We can work on diverse accounting applications available in the market. Our team can work on your existing software or help you buy a new one if required.
Quicker Turnaround Time
Briefly, outsourcing allows you to obtain quality accounting for your insurance business within the defined deadline, hence aiding you in multiple ways.
Why Choose Cogneesol?
Accounting for insurance companies, including bookkeeping, bank account reconciliation, tax preparation along other accounting services are just a couple of offerings we extend to you.
Cogneesol’s accounting experts possess years of experience in insurance agency accounting are skilled and professionally trained to cater to our insurance clients’ accounting needs. Regardless of the size of the backlog or workload, we specialize in optimizing the accounting process.
Our team can take care of all your daily accounting and bookkeeping tasks utilizing revolutionary insurance agency accounting software so that you can pay attention to running your business efficiently.
Additionally, we can help you set-up a new accounting software of your choice, and our team can efficiently work on the same. We can keep track of your insurance bookkeeping on a monthly, quarterly, or yearly basis. We make sure that our customers gain sufficient control on accounts, with regular follow-ups on outstanding invoices and comprehensive reporting on account activities.
We help our clients navigate from where they are to where they aspire to be through our always-on learning agenda in the form of client stories and blogs highlighting latest industry trends.
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It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.
Cogneesol’s provides end-to-end accounting for our insurance business keeping us compliant on IFRS standards and other US and international regulations. From accurate actuarial calculations to maintaining proper underwriting systems, the team does it all. We have been able to maintain financial statements as per the statute thanks to Cogneesol!
With evolving accounting standards, we needed a dedicated team of experts that would advise us on compliant business operations and handhold us for statutory obligations. Cogneesol has been our perfect accounting partner enabling us to maintain accurate books of accounts and has helped us make true and timely reporting to insurance regulators.
Be it asset valuation, or preparation of financial statements, or computing accurate liabilities and reserves, Cogneesol’s accounting professionals are experts at US insurance laws and regulations. They streamlined our accounting process, making us thoroughly compliant. Their rates are one of the most competitive in the market. We thoroughly depend on them.