Accounting Systems Designed for Insurers
PRO Financial Systems
PRO Financial applications are efficient because they are tailored to handle the unique cash, statutory, and GAAP reporting requirements of the insurance industry. Even more important, the people who install and support them are insurance experts who understand the specific language and principles of statutory accounting.
- Widely used. More than 100 insurance companies--ranging in size from start-ups to more than $4 billion in direct written premium--use PRO Financial insurance accounting software, and that number is growing steadily.
- Precision financial reporting. The system's flexible account structure allows you to manage by line of business, state, region, project, cost center, product, service, agent, and distribution channel. The GL is integrated with F9 Financial Reporting to facilitate detailed analysis, and the creation of boardroom quality reports. F9 is an add-on to Microsoft Excel that capitalizes on your existing proficiency. If you know Excel, you'll be producing financial reports in minutes with F9.
The PRO Financial General Ledger (GL) empowers you to manage, track and process transactions for global organizations. Use PRO to manage financial data with for an unlimited number of companies and currencies. Here are some of the primary benefits for growth-oriented insurers.
- User-defined account key that enables sophisticated analysis
- Razor-sharp profitability reporting
- Support for multiple accounting bases
- Multi-currency capability
- High-speed, high-volume transaction processing
- Ability to drill down and drill across to supporting detail
- Flexible, rules-driven allocations
- Automatic inter-company processing
- Interfaces to StoneRiver systems and other applications
The PRO Financial Accounts Payable (AP) system improves cash management and expense control. If you need a better way to manage and track vendors, invoices and cash disbursements, take a closer look at this widely recommended application.
- Streamlines data entry
- Supports multiple remit-to vendors
- Prevents duplicate invoices
- Supports GL account distribution rules
- Accepts feeds for claim- and policy-related payments
- Automatic feed to the General Ledger
- Accumulates 1099 information automatically
Together, these high performance financial applications are ideal for today’s tighter regulatory environment—one that demands more transparency, faster reporting, and stronger security. Register today for a live, web-based overview of the PRO Financial insurance accounting system. Or, contact a StoneRiver representative for additional information.
PTE Financial Systems
PTE Financial applications are insurance-specific applications designed to handle the reporting requirements of insurance financial accounting. They are particularly attractive to start-up and small to mid-size insurers because they can be installed quickly and are easy to maintain. PTE Financial technology is a perfect fit for some of the nation’s most efficient insurers. These dependable and widely-used systems are used by nearly 250 insurers.
PTE Financial General Ledger Key Features
- User-defined Ledgers
- Flexible Allocations
- Unlimited Consolidations
- Suspense Tracking
- Views and reports
PTE Financial Accounts Payable Key Features
- Tracks due dates, discounts and late charges
- Produces checks and EFTs
- Tracks 1099 data
- Reconciles checks and EFTs
- Provides valuable audit control and reporting
- Calculates use tax automatically
- Tracks vendors
- Reports aging of payables
Powerful Reporting Tools It all comes down to reporting, doesn't it? Many of our clients need custom reporting, so we've integrated our financial applications with premier business intelligence tools. Each tool has been carefully selected to put non-technical business users in control. They make it possible to mine your management data with little or no technical knowledge. As you read more about our reporting tools, you'll find they are as quick to implement as they are powerful to use.
The FREEDOM® Connection
The FREEDOM Group is now StoneRiver--the first company to specialize in insurance-specific accounting and regulatory systems--and still the company that others strive to beat. When you hear people recommend FREEDOM software, they're talking about us. With StoneRiver, you can expect the same great software and unbeatable customer service that The FREEDOM Group has always been known for.