Manage premium across programs and carrier requirements.
Each carrier program brings its own premium, commission, reconciliation and remittance requirements. Advance helps MGAs and MGUs organize funds by carrier and program, reconcile premium records and manage carrier payments in one platform.
Trusted by industry leaders
the problem
Each program adds another set of obligations to track
Carrier programs can use different accounts, statements, bordereaux and remittance schedules.
Your finance team has to establish:
What's been collected
Which carrier or program it belongs to
What's due for payment
The result
When those records sit across spreadsheets, banking portals and separate systems, answering those questions takes manual work. Discrepancies require more investigation, and each additional program brings another set of records and deadlines to manage.
Why advance
Give finance a clearer view of program obligations
Organizing accounts and records by carrier and program helps your team track premium collection, investigate discrepancies and prepare for remittance.
Focus on reconciliation exceptions
Addie, Advance's AI technology, helps match premium and commission information across carrier statements and bordereaux, surfacing discrepancies for review.
Put eligible balances to work
Eligible premium balances can earn yield while awaiting remittance.
Spend time on what needs attention
Less manual matching means more time to resolve the items that need attention.
Add programs without adding work
As you add programs, a consistent process can reduce the administrative work required to support them.
How it works
Connect premium collection, reconciliation and remittance
01
Collect premium
Receive premium into accounts structured around your carrier and program requirements.
02
Separate funds
Organize funds by carrier or program so your team can track balances against the obligations it manages.
03
Reconcile records
Match premium, commission, bordereaux and carrier statement information, with discrepancies surfaced for review.
04
Remit to carriers
Manage carrier payments through Advance, keeping payment and reconciliation records within the same platform.
customer stories
How MGAs use Advance
Carma, Pathpoint and Assureful
Carma Insurance replaced five separate tools with Advance and gained visibility into premium movement by policy and account.
Pathpoint started with funds from a single carrier before expanding its use of Advance. It established separate carrier accounts and managed carrier payables while keeping its existing AMS and core workflows.
Assureful set up fiduciary trust accounts to meet program requirements without changing its existing operating systems or technology.
Plan the setup around your carrier programs
Your carrier requirements and existing workflows define the starting point. Review account structures, reconciliation records and remittance processes with Advance to establish the initial scope.
security & trust
Review the banking structure and security controls.
Advance is SOC 2 Type II audited. Deposit accounts are provided through OMB Bank, Member FDIC. Evaluate account setup, the sponsor-bank structure, security controls and information-sharing requirements against your internal standards and carrier obligations.
Bank-sponsored program
Banking services are provided by OMB Bank, Member FDIC. Advance is a financial technology company, not a bank.
SOC 2 Type II audited
Advance is SOC 2 Type II audited, with security controls reviewed as part of that process.
Works alongside your systems
Advance works alongside your existing systems rather than requiring a full technology replacement.
