Best Insurance Broker Accounting Software

by Navicasoft
15 Vendors Reviewed
21 Hours of Research
10 Experts Interviewed

Every insurance broker has to deal with an incredible amount of financial data every day. Finding the most efficient and cost-effective way to manage this data is what every broker is looking for. One option that might be worth exploring is accounting software for insurance brokers. 

Best Insurance Broker Accounting Software

There are many things to consider when choosing the right software, such as the level of experience required, bank integration, or how well suited it is for high volume transactions and complex project management? There are also many different types of accounting software explicitly tailored to brokers, like insurance broker accounting software. Below you can find the list of best insurance broker accounting software available on the market with its pros and cons.

Our Top 5 Insurance Broker Accounting Software

Best Insurance Broker Accounting Software Reviews

1. Best Overall: Freshbooks

FreshBooks FreshBooks logo

Our rating: ★★★★★

For many small businesses, the cost of maintaining accounting software for their bookkeeping and accounts is too much. That’s where FreshBooks comes in with their free online software that makes it easy to keep track of your business finances.

With a user-friendly interface, you’ll manage your expenses in less than 10 minutes using this reliable software which offers an array of features that allow you and your employees to stay productive without spending hours on end typing away. In just one year, the company has raised $60 million in funding.

Freshbooks Review

FreshBooks is not merely for small businesses; their free accounting software can also make it easier for you to maintain your finances and keep track of your finances and taxes. It’s also designed to help you keep track of invoices, bill payments, expenses, and even contacts so that tasks can be done effectively on a budget.

Their online software is relatively easy to use with its step-by-step tutorials that lead users through each step of the process. You don’t have to know much about accounting to get started with FreshBooks either, as they provide a master class on how a business should manage its finances every month.

2. Best Ease of Use: Jenesis Software

Jenesis Software Jenesis Software logo

Our rating: ★★★★★

Software offers a wide range of insurance broker accounting software designed for all types of insurance brokers from start-ups to large corporations. These affordable tools allow you to easily design and track your business, organize client records, create invoices, and more.

When you contact Jenesis Software, we will work with you until you are completely satisfied. We’re here to help!

Jenesis Software Review

Jenesis Software is a company that provides a wide range of insurance broker accounting software designed for all types of brokers, from the small independent broker down to large corporations. These affordable tools allow you to easily design and track your business, organize client records, create invoices, and more, all at a reasonable cost.

3. Best for Workflow Automation: Flexi

Flexi Flexi logo

Our rating: ★★★★★

Flexi is an insurance broker accounting software. It offers an elegant user interface, neat features, and lots of functionalities. The interface is easy to navigate, and you can create your reports using the built-in web tool. If you are looking for an insurance broker accounting software that offers all the necessary features from other packages offered, then Flexi might be what you are looking for. 

The main advantages of choosing this package over others are: it’s affordable, has an attractive UI, offers a wealth of functionalities, and its support team has a reputation for excellence in customer care.

Flexi Review

Flexi is less expensive than other packages, but does that make it bad? The answer is no. Not all software is priced according to its features and complexity; some applications are priced according to their popularity. Flexi is very affordable and offers remarkable value for the price you pay.

The interface of Flexi allows you to concentrate on your work without the need to get frustrated over how things look. Furthermore, the web tool that comes with the package gives you an added advantage because it gives you a visual representation of data and makes your life easier when working while being offline.

4. Best Customer Support: NowCerts

NowCerts NowCerts logo

Our rating: ★★★★★

NowCerts is one of the best broker accounting software for insurance brokers. It’s primarily used for managing the day-to-day operations and administrative tasks carried out by brokers. 

NowCerts Review

NowCerts Features

  • Account management for tracking and generating quotes that are accepted or rejected.
  • Policy management feature, which includes filing claims, customizing policies, and printing certificates to customers.
  • Service management feature for handling customer service and correspondence.
  • Reporting feature for generating policyholder reports, account aging reports, and a list of expired policies.
  • Marketing management features, which include designing letters and e-mails that are sent to customers. 
  • Document management features for storing business documents in the software’s database, including policy wordings.

5. Best Analytical Tools: EZLynx

EZLynx EZLynx  logo

Our rating: ★★★★★

EZLynx is a web-based application for the insurance industry. It provides accounting and bookkeeping software that is designed for use by insurance brokerage firms, agents, and brokers. 

EZLynx gives users the ability to enter transactions quickly as they happen and then tracks those transactions at various dates in the future, making it easier to keep records up-to-date. In addition to implementing one of these three options, you can also opt to invoice your customers directly from within this program.

EZLynx Review

A feature of EZLynx is that it offers many different export options. These options allow you to compile your data and then view it from multiple perspectives. 

For example, if you want to view samples of monthly financial statements, you can use this software to do so. You can also choose to display information about items such as invoices and deposits, income and expenses, and checks are written or check received.

EZLynx automatically categorizes transactions into different groups as they happen. This categorization is based on the type of transaction entered, giving users a way to easily keep track of expenses because they are not separated by type when entering the transaction manually.

Buyer’s Guide

Before choosing software, it is vital to consider how this will affect your business and what issues you may face. For example, many small insurance brokers work alone and may not always have a full team of expert computer experts at their disposal. If there are no other staff members to support the computer system, they will have to be prepared to take care of all technical issues independently. This can be scary for some people that are not particularly tech-savvy. 

Best Insurance Broker Accounting Software Buyer’s Guide

However, this is why insurance broker accounting software comes in so handy. Brokers can purchase the software individually or in groups. This makes it easier to manage and work with the systems for all brokers who are buying it. This way, there is less of a chance of losing any important information if something goes wrong.


What Is Insurance Broker Accounting Software?

Insurance brokers are among those who need to account for their transactions. Insurance broker accounting software is how they do so. It will track their incoming and outgoing cash and incoming assets like stocks and bonds and outgoing liabilities like bank loans. These programs will help ensure that everything is accounted for properly during tax season.

What Accounting Software Do Insurance Companies Use?

The accounting software that an insurance company uses varies depending on the size and cost of their company. The more expensive the insurance company, the more complex their software is and the amount they spend on it. For example, a small regional firm may use QuickBooks, while a larger international firm may use Oracle Financial Systems or SAP.

What Is The Best Insurance Accounting Software?

The best insurance accounting software is QuickBooks. Of course, insurance accounting is a little different than regular accounting. Still, with QuickBooks, you can easily see where your balance sheet and profit & loss statement stand amongst the industry, and it can provide support to what you’re doing for your external auditors. It’s also comprehensive and creative enough to help with sales tax calculations in states with different rates or deductions.

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