Posts tagged with "insurance accounting"

Compliant Insurance Accounting Software

5 Features You Should Seek For Secure, Compliant Accounting Software in the Insurance Industry

The insurance industry is a heavily regulated industry that requires assurance and compliance that only the best accounting software companies can provide. If you work in the insurance industry, you should be well-versed in the unique struggles you face–and you should seek insurance accounting software that helps you do your job better.

Here are five features you should seek and expect from your accounting software if you work within the highly regulated insurance industry:

  1. Additional automation. This will provide better security, more internal controls, and less risk of human error.
  2. Stronger reporting. This should include the ability to facilitate the creation of statutory reports.
  3. Flexibility. This should include the ability to quickly adapt to the ever-changing compliance requirements.
  4. Simplified, multi-book accounting. This enables users to track GAAP, statutory, and adjust simultaneously.
  5. Better security. This will provide more internal controls, less manual intervention, and stronger reporting for maintaining compliance requirements.

Flexi for your insurance company

Flexi understands the heavily regulated insurance industry and can guide you through the implementation process to ensure that the security, compliance, and performance mandates you need most are met.

When you choose Flexi as your accounting software provider, you gain the expertise of 25+ years serving insurance customers. Additionally, you gain the expertise of the government entities that rely on Flexi to efficiently manage claim processing needs associated with healthcare programs and disaster relief assistance.

With a seamless integration into policy, billing, and claims systems, Flexi creates superior efficiency and accuracy for insurance companies that cannot be replicated by ordinary accounting software. Feature highlights include:

  • Multi-company, multi-books (GAAP, STAT)
  • Premiums recognition
  • Workflow automation
  • Claim payments
  • Built-in compliance and audit
  • Powerful allocations
  • Global currency conversion
  • Reporting and analytics

Flexi’s comprehensive financial management software simplifies and automates the entire accounting workflow process, without compromising security. Flexi’s open architecture meets even the most stringent security requirements yet allows data to flow seamlessly with any system, whenever and wherever business needs dictate.

Flexi delivers all the rich features you’d expect in a top tier accounting solution, but without the high cost. With quick implementation that can be deployed on-premises, in the cloud or in a hybrid environment, Flexi will not only simplify your accounting processes today, but also will have you ready to adapt quickly to market or business changes in your future.

Learn more about Flexi today. Call 800-353-9492.

Insurance Accounting Tool

Flexi Offers the Insurance Industry a Great New Accounting Tool

The insurance industry depends on adept accounting software, and Flexi’s software currently supports nearly 2,000 insurance and healthcare companies. Flexi’s 25+ year history is rooted in serving industries where security, compliance, speed and performance are paramount; industries including the insurance field.

Flexi’s software integrates with policy, billing, and claims systems, creating superior efficiency and accuracy. Government entities also rely on Flexi to efficiently manage claim processing needs associated with healthcare programs and disaster relief assistance.

Watch a video to learn how Flexi is uniquely designed to help insurance companies manage complex regulatory requirements and adapt to changing market demands.

Flexi’s insurance accounting software capabilities

Flexi’s insurance accounting software offers the following capabilities and benefits:

  • Statutory set of books
  • Departmental P&Ls
  • Claim payments and draft
  • Premiums recognition
  • Detailed record of billings
  • Chart of Accounts Master
  • 1099 processing
  • Powerful allocations

Flexible software

Flexi is aptly named for its flexible software capabilities. Flexi’s open architecture allows flexibility to choose stand-alone modules as business needs dictate. But insurance companies will gain the ultimate speed and power with Flexi’s financial management software platform, uniquely designed to allow financial data to flow securely wherever it is needed.

Additionally, Flexi software does so much more:

  • Additional automation provides better security, more internal controls, and less risk of human error
  • Stronger reporting, including ability to facilitate the creation of statutory reports
  • Ability to quickly adapt for ever-changing compliance requirements
  • Simplified multi-book accounting enables users to track GAAP, statutory, and adjust simultaneously
  • Provide better security, more internal controls, less manual intervention, and stronger reporting for maintaining compliance requirements

Flexi

Flexi offers a full suite of products to help your accounting staff perform and deliver–and save time while doing it.

With Flexi, you can streamline and automate labor-intensive financial management functions using accounts payable, general ledger, project management, and fixed asset solutions.

Flexi is an industry leader for a reason. With expertise in all aspects of accounting and 25 years experience, the Flexi team can offer the best of the best. Even better, Flexi offers cloud-based web services that not only streamline processes, but also make data accessible 24/7 from any device with an internet connection.

Learn more about Flexi accounting software solutions, or call 800-353-9492 to set up a demo today.

Insurance Accounting

How Flexi Helps the Insurance Industry With Comprehensive Accounting Solutions

Flexi produces cloud-based financial management software built specifically for insurance companies. The software integrates with most policy, billing and claims systems, helping organizations in the insurance industry automate and streamline processes while staying compliant with regulatory requirements.

Flexi insurance accounting software solutions increase the overall efficiency of accounting processes. These software solutions allow users to remain competitive with the accounting tools and controls needed to manage complex regulatory requirements and adapt to changing market demands.

Flexi’s solutions simplify complex financial management with a fully-integrated suite of financial management software, professional services, and an experienced support staff.

Flexi’s insurance accounting software…

  • Analyzes financial statements and tracks performance of lines of business, profit centers, and locations
  • Integrates seamlessly with policy, billing, and claims systems, creating end-to-end solutions for faster, more efficient access to information
  • Provides better security, more internal controls, less manual intervention, and stronger reporting for maintaining compliance requirements
  • Simplifies multi-book accounting into a single system of financial records, enabling users to track GAAP, statutory, and adjustments simultaneously, as well as facilitate the creation of statutory reports.

Flexi’s insurance accounting software solutions are proven for insurance companies. Some of the many features of the software include:

  • Statutory set of books
  • Department P&Ls
  • Claim payments and drafts
  • Premiums recognition
  • Detailed record of billings
  • Chart of Accounts Master
  • 1099 processing
  • Powerful allocations

With Flexi’s insurance accounting software, it’s easy to automate and streamline both your accounting workflow processes and statutory reports with flexible financial management software.

The bottom line

Flexi’s solutions enable your organization to successfully compete in the dynamic insurance market. Automate and streamline your financial processes with the tools and controls to support complex regulatory requirements and changing market demands.

Flexi’s comprehensive financial management software simplifies and automates the entire accounting workflow process without compromising security. Open architecture meets even the most stringent security requirements yet allows data to flow seamlessly with any system.

Flexi delivers all the rich features you’d expect in a top tier accounting solution, but without the high cost. With quick implementation that can be deployed on-premises, in the cloud or in a hybrid environment, Flexi will not only simplify your accounting processes today, but also will have you ready to adapt quickly to market or business changes in your future.

Learn more about Flexi insurance accounting software solutions, or call 800-353-9492 to set up a demo today.