Handle more premium volume with less manual reconciliation.
More carriers and transactions bring more statements to reconcile, commissions to match and payments to manage. Advance connects premium collection, reconciliation and carrier payments in one insurance-specific platform, helping your finance team handle growing volume with less manual work.
Trusted by industry leaders
the problem
Every carrier relationship adds work for finance
Carriers have different statements, payment schedules, commission calculations and reconciliation requirements. Your team has to account for those differences while keeping premium moving.
As transaction volume grows:
Matching records takes more time
Exceptions accumulate
Payment preparation requires more handoffs
The result
Answering a question about a carrier balance can mean checking several systems. Those tasks compete for the same finance capacity your business needs to support a larger book.
Why advance
Give finance more capacity as volume grows
Reduce routine manual matching so your team has more time to investigate discrepancies and manage carrier payments.
Focus on reconciliation exceptions
Addie, Advance's AI technology, supports premium and commission matching, carrier statement reconciliation and exception identification.
Put eligible balances to work
Eligible premium balances can earn yield while awaiting remittance.
Fewer systems to check
Keeping premium records and money movement together can reduce the work required to establish where funds stand across carrier relationships.
Support more carriers
Existing teams get more capacity to support additional transactions and carriers.
How it works
Connect premium collection, reconciliation and payment
01
Collect premium
Receive premium into the appropriate premium trust account.
02
Organize funds
Separate funds by carrier or program so your team can track balances against payment obligations.
03
Reconcile records
Match premium, commission and carrier statement information, with discrepancies surfaced for review.
04
Pay carriers
Manage carrier payments through Advance, keeping payment and reconciliation records within the same platform.
customer stories
How insurance businesses manage multiple carrier accounts
Carma and Pathpoint
Pathpoint, an MGA, 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.
Carma Insurance, also an MGA, replaced five separate tools with Advance and gained visibility into premium movement by policy and account.
Define how Advance fits your existing workflow
Start with your carrier relationships, premium accounts, reconciliation records and payment processes. Review them with Advance to identify the initial scope and the steps your team would manage through the platform.
security & trust
Review security and the banking structure.
Advance is SOC 2 Type II audited. Deposit accounts are provided through OMB Bank, Member FDIC. Evaluate account setup, security controls, information-sharing requirements and the sponsor-bank structure as part of your review.
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.
