As an insurance agent or broker, you juggle client acquisitions, policy sales, commission tracking, licensing, and back office paperwork.
Finding accounting software that helps efficiently manage the finances and workflows unique to insurance agencies is crucial.
This guide reviews the top 10 accounting software purpose-built for independent insurance agents and brokers based on insurance-specific features, integrations, and ease of use.
10 Best Accounting Software for Insurance Agents and Brokers
Here is our recommendation for the best accounting software for insurance agents and brokers:
1. AgencyBloc
AgencyBloc offers full-featured cloud accounting software for property and casualty insurance agents and brokers.
Key features include:
- Client database with policy management
- Custom policy creation and tracking
- Commission tracking and reporting
- Licensing and compliance management
- Invoicing, billing, and collections
- Accounting, bank reconciliation, and reporting
- CRM, email marketing, and client portal
The end-to-end platform improves workflows for independent agencies while providing detailed financial oversight.
2. Applied Systems
Applied Systems provides several robust accounting and agency management software solutions for insurance brokers and agents.
Their offerings include:
- Epic – P&C-focused platform including accounting, policy management, sales, reporting, and portal. Integrates with third-party apps.
- TAM – Accounting-focused system for agencies managing wholesale, MGA, and specialty programs. Handles policy management, billing, and reporting.
- Sagitta – Platform for MGAs and wholesalers covering accounting, commission tracking, license management, and data exchange.
Applied Systems is relied upon by thousands of U.S. insurance agencies to optimize workflows while effectively tracking financials.
3. Vertafore
Vertafore creates insurance-specific accounting and agency management platforms, including:
- AMS360 – Integrated suite covering agency accounting, sales, customer service, reporting, and licensing.
- QQCatalyst – Cloud platform focusing on independent agency accounting, policy management, and insights.
- Insurance CRM – Sales-focused CRM for agencies to manage the client lifecycle.
Vertafore’s solutions help streamline critical agency workflows to improve productivity and organization across customer acquisition, policy management, and financial processes.
4. Insurance Technologies
Insurance Technologies develops the Total Agency Solutions platform, which delivers:
- Client and policy management tools
- Custom policy design and issuance
- Commissions management
- Integrated accounting with trust accounting
- Licensing administration and compliance tracking
- Document management, email, and reporting
The robust capabilities optimize essential agency workflows while maintaining detailed financial records and oversight.
5. InsureZone
InsureZone creates SaaS solutions for independent insurance agencies and brokers. Their offerings include:
- Beacon – Agency management platform covering policy management, accounting, licensing, sales, and reporting.
- FireLight – Business intelligence add-on for advanced analytics.
- Gateway – Consumer portal for policy access, payments, and document retrieval.
The configurable platforms aim to streamline agency workflows while providing data-driven insights.
6. Power Broker
Power Broker is cloud accounting software built specifically for managing independent insurance agencies. Features include:
- Contact and policy management
- Custom policy design
- Commission tracking
- Integrated accounting and payments
- License administration
- White-label client portals
- Trust accounting capabilities
- Reporting and business intelligence
Power Broker covers the critical systems insurance professionals rely on to operate efficiently.
7. Broker Buddha
Broker Buddha provides an insurance agency management and accounting platform.
Key features include:
- Prospect and client database
- Policy creation, tracking, renewals
- Commission management
- License administration
- Accounting functions like AR/AP, trust accounting, general ledger, reporting
- Integrations with carriers, CRMs, marketing tools
Robust capabilities optimize essential agency workflows in one connected platform.
8. Insly
Insly focuses on core accounting, policy management, and reporting capabilities relevant to insurance brokers and agents.
Their platform provides:
- Client database with policy management
- Customizable policy design
- Commission tracking
- Accounting functions like AR/AP, invoicing, and reporting
- Document management and Generation
- White-label client portal
The streamlined feature set focuses on smoothening daily insurance workflows.
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9. Agentero
Agentero develops agency management software catered to P&C independent insurance agencies. Capabilities include:
- Contact and policy management
- Policy creation across 150+ carriers
- Commission tracking
- Accounting functions like AR/AP, trust accounting, billing, and reporting
- License management
- Reports, dashboards, and business intelligence
Agentero aims to simplify daily processes while providing data-driven insights.
10. Insurity Software
Insurity provides core accounting and management platforms built for P&C insurance agencies and brokers. Their offerings consist of:
- Insurity Policy for policy management, underwriter, billing, and portal
- Insurity Billing for billing and collections
- Insurity is Trusted Choice for sales, marketing, and website management
- Insurity Digital Payments for premium financing
- Insurity Analytics for data insights
Modules integrate or work standalone to target key agency workflows and functions.
Key Accounting Capabilities for Insurance Agencies
To manage agency finances smoothly, look for platforms with:
- Client database to track policies
- Custom policy design
- Commission tracking
- Premium financing options
- License administration
- Multi-channel digital payments
- Trust accounting support
- Reporting on agency performance
Choose comprehensive agency management solutions over generic small business accounting software. All-in-one platforms improve organization and optimization.
Final Tips on Selecting Software
As insurance agents and brokers, to get the most from accounting software, you should:
- Seek solutions that integrate with the carriers and tools you already use
- Look for insurance-specific features like commissions, trust accounting
- Consider required upfront training and ongoing support
- Evaluate mobility capabilities if you or staff work remotely
- Compare one-time, monthly, and volume-based pricing
- Seek scalable solutions if aiming for rapid growth
Read Also: 10+ Top Accounting Software for Distribution Companies and Wholesale Businesses
Conclusion
Choosing the right agency management and accounting software gives your insurance business the automation and insights needed to focus on sales and customer service.
It’s no secret that having a good financial management system is essential for the growth and success of any venture.
We hope you can find the software that fits your services using our recommendations and tips.
