Outsource Bookkeeping and Forensic Accounting Services

Our book keeping and forensic accounting service is designed to safeguard insurance companies and agencies from undesirable financial surprises and fraudulent activities

Insurance Back Office Pro has over 8 years of experience in insurance book keeping and forensic accounting service. Our in-depth knowledge and continued exposure to book keeping and forensic accounting service has helped us protect our clients from financial surprises and safeguard their interests in the face of fraudulent activities. We are the trusted service partner of many global insurance companies across the globe.

Our dedicated team of experienced and skilled bookkeepers will help you to keep your financial records straight and clean. Likewise, our team of expert forensic accountants help you sniff out and size up duplicitous developments in the shortest possible time. Together, we provide you the financial stability you need to sustain and expand your insurance business. When you outsource book keeping and forensic accounting services to a premier book keeping and forensic accounting services company you get the peace of mind required to focus on your core activities.

Our End to End Book Keeping and Forensic Accounting Services

Accounts Payable Services and Receivable Services

We leverage cutting edge technology and highly skilled staff to oversee the functioning of your entire Accounts Payable and receivable process. We consolidate and incorporate the use of the best business practices that are prevalent in the industry currently, to take care of all critical aspects of the process. From invoice generation to report generation, account ledger maintenance, database management and data archival, our premier service is designed to help you achieve the best customer service with your insurance claims process.

Insurance Data Entry

An accurate data entry process will help you take key business decisions when the time arrives. Our data entry services are aimed at helping you maintain an accurate repository of your insurance claims. As an experienced insurance book keeping and forensic accounting services company we handle all insurance data entry requirements with consistent performance levels. Our services help insurance carriers and agencies process applications, invoices, reports, bills, policy renewal, amendment and denial management documents with the preciseness needed to meet scrutiny standards.

Carrier Statement Reconciliation

The minimization of transactional expense and policy cost footprint are one of the biggest challenges faced by the insurance industry. We specialize in providing insurance carriers a transparent reconciliation record that can be audited at any given point of time. We enhance the visibility of carrier account statements to help you stay competitive in the industry and ensure maximized returns. When you outsource book keeping and forensic accounting services to us, you get the competence of a modern-day outsourcing partner that has helped transform the way book keeping is handled in insurance companies.

General Ledger Maintenance

Under current industry practices, insurance accounting is based on a general ledger accounting format. As a premium bookkeeping and forensic accounting services company, we help you with the critical task of general ledger maintenance by preparing precise income statements and balance sheets. The task of General Ledger Maintenance usually requires a significant amount of in house resources. We ensure that it is efficiently taken care of by us. Our team of highly skilled bookkeepers record all your financial transactions diligently, to give you an idea of your profitability and expenses in real time. We complement the surgical precision of our ledger maintenance process with customized financial reports to keep your office ready for surprise audits.

Forensic Accounting

Our financial crime specialists double up as auditors and private investigators. Their experience in conducting sophisticated fraud and embezzlement will assist you in identifying potential areas of deception. Besides this, we help you quantify your losses and accurately make insurance claims and claims against responsible third parties without impacting the functioning of your business.

Our End to End Book Keeping and Forensic Accounting Process

  • Source document preparaton:- The creation of the source document marks the beginning of the book keeping process. Detailed documents of financial transactions are maintained, for their official entry into the ledger book.
  • Document segregation:- Every single financial transaction of an insurance company affects its business. Our book keeping specialists organize financial documents and record them systematically.
  • Journal entries:- Segregation is followed by journal entry. Every financial transaction is recorded along with the purpose for which it was made.
  • Handling end of period procedures:- Each one of the financial transactions are maintained in such a way that they are ready for tax returns, accounting reports and financial statements.
  • Book Closing:- At the end of the year our bookkeeping experts summarize and close the ledger in preparation for the start of a new fiscal year. The ledger is prepared for the generation of other end of the year reports.

How our Book Keeping and Forensic Accounting Services Give Your Business the Competitive Edge

We entrust your task to people who have a good understanding of the industry. This reduces chances of errors, omissions and oversight and gives you the peace of mind to focus on your business. All our bookkeepers are details oriented. They check and track information proactively throughout the year and group your requirements into daily, weekly, monthly, and quarterly tasks, to help you have a clear financial picture anytime of the year.

Our forensic accounting experts too specialize in insurance industry and can bring in their experience to help you uncover potential fraud, investigate damages involved in disputes between parties or provide additional support to attorneys in legal matters. You can rely on us for comprehensive and accurate reporting on all areas of concerns with trust our recommendations to stop them from recurring.

Why Outsource Bookkeeping and Forensic Accounting Services to Us

  • Best bookkeeping and forensic accounting talent pool
  • Reduced overhead expenses
  • Quicker turnaround times
  • Insightful Recommendations
  • Accurate database maintenance and archival
99% Accuracy rate
accurate insurance back office services
24x7 services through 8 global delivery centers
24/7 insurance back office support services

FAQs on Insurance Bookkeeping Services

Insurance bookkeeping and accounting services refer to the process of collecting and tracking all the documents pertaining to an insurance coverage. It helps in keeping a record of all the financial transactions such as selling or purchasing of any asset, to ensure that all the necessary information is ready to access during the time of filing for taxes. In its true essence, insurance bookkeeping and accounting services streamline operations for an insurance company by maintaining dexterous account of accounts receivables and payables, promoting efficiency in taxation process, and avoid malpractices.

By virtue of maintaining a robust data security framework, we have earned the ISO 27001:2013 ISMS and SSAE 16 (SOC 2) certifications. We transact data through a 128-bit encrypted server using AES key encryption to ensure data security. We ensure that our resources assigned to our client abide by the terms of a non-disclosure agreement. We restrict the movement of any authorized person in our facility which is under constant surveillance. We archive all documents off-site as well as on secure back-up servers to prevent any loss of critical data. All our systems are installed with anti-virus tools and a back-up drive manager. We do not allow the usage of any external drive such as CD drives, pen drive at workstations.

We assign resources that have an in-depth understanding of the industry and stay at the top of the dynamic trends in the insurance industry that can potentially disrupt smooth sailing of a business. Their expertise and experience aid in minimizing the chances of errors, oversight, or omission which takes away the need to keep a constant eye on their operation. This allows you to focus on other core objectives of your business. Our bookkeepers focus on details as they conduct regular checking and tracking of information over the year and assemble your requirements into daily, weekly, monthly, and quarterly tasks. This allows to have a clear picture of your financial scenario at any time during the year. Our team of forensic accounting experts helps in flagging potential fraudulent cases, probe into damages involved in disputes between parties as well as offer support to attorneys while dealing with legal matters.

We commit to a deadline and initiate our services post a comprehensive and an in-depth understanding of our clients’ expectation. We work closely with our client to understand their nature of work, potential areas of improvement, nature and size of their business. Post which, we assign the resources accordingly to start our services.

We offer services that can scale up to your business requirements for the moment. We design service delivery models drawn to meet your business requirements which are subject to dynamism because of the downsizing of an operation or addition of the same. This gives you the liberty to pay us for the exact amount of services provided to you.

Yes. You can reach our sales team via an email at info@insurancebackofficepro.com. You can also fill the form on our website and our sales team will get in touch with you within 24 hours.