How we Started this business, and why....
Independent Insurance Agent Owner keep better tabs on their trust accounts. With the age of
electronic sweeps by the Insurance Carriers also came the age of double sweeps, mistakes
within the company website, non-sweeps of payments resulting in less commissions and
other headache causing situations.
In Trust Accounting came to be as the result of a State Insurance Commissioner Audit. A
friend of Tony's who owns a large agency was being audited by the state and needed some
help. He had recently purchased the business from previous owners who did not take the
necessary precautions to insure the Trust Account was up to legal standards, let alone in
balance. With Tony's background being in accounting and having a strong working
knowledge of various software programs a simple database receipting system was
designed, built and put in place to help start over in the accounts. The information was then
able to be transferred to spreadsheets that were specifically designed to help balance the
accounts through a triple check of procedures. By implementing these practices and
procedures what could of been a nasty audit was avoided and a business was born.
Over the next year In-Trust Accounting grew from balancing accounts for 4 offices to 17
offices, and now heading into 2008, we are servicing even more satisfied agency offices.
During this growth the spreadsheets and balancing process have been fine tuned and made
compatible with other management systems, for example - Hawksoft - as well as those not
running any software or management system at all. In-Trust Accounting now can take
information from these management systems, the In-Trust System, or other software, easily
download into the spreadsheets and provide a clean balance of the Trust Account, all the
while searching for double sweeps, errors in sweeps, internal errors, as well as, internal theft
issues. We also provided a list of items not yet swept, past 30 days, that you may be due
commissions on, and not yet received due to the premiums not being swept. Each month
your provided with a clean working copy of outstanding "hot" issues that need your attention
as well as other items that affect your account(s).
Its our hope and policy at In-Trust Accounting to provide you and your agency with the most
clean, secure, and audit worthy Trust account possible, while remaining affordable in cost to
any size agency. Contact us today for further information - and please take a minute to
request our absolutely free Trust Account Policy and Procedures handout for additional
information and suggestions on your Trust Account.
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