Insurance Accounting & Policy Management Software in Pakistan
Insurance accounting software in Pakistan records premiums, commissions, claims and reinsurance, and produces the statements a broker or agency must file. XSoft.pk supplies insurance firm accounting and policy management from PKR 6,999 per month, cloud hosted with support from Lahore.
An insurance agency or brokerage in Pakistan has an accounting problem that generic accounting software does not solve: revenue is commission, not premium, and premium is collected on behalf of the insurer. The two must be separated, or the books permanently overstate income.
Add policy renewals that must be chased before lapse, claims that move through insurer workflows, co-insurance shares, and commission statements from multiple companies in different formats, and the case for purpose-built software becomes obvious.
XSoft.pk configures insurance accounting with a policy register that feeds both the commission ledger and the renewal pipeline, so a single policy record produces the accounting entry, the renewal reminder and the claim history.
Also known as: insurance firm accounting software · insurance policy management system · insurance agency software · insurance brokerage software
Last updated: · Reviewed by the XSoft.pk product team, Lahore
What insurance firm accounting software must do
The features below separate insurance accounting from generic bookkeeping, in the order agencies usually adopt them.
- Policy register with insurer, product, sum insured, premium, start and expiry dates
- Premium collection recorded as a liability, with commission recognised as income
- Commission receivable and payable by insurer, product and agent
- Renewal pipeline with automated reminders before expiry
- Claims register with intimation, documents, surveyor status and settlement
- Co-insurance and reinsurance share recording where applicable
- Agent and sub-broker commission calculation and payout statements
- Insurer-wise reconciliation, ageing and regulatory reporting extracts
Insurance software price in Pakistan
Pricing depends on the number of policies under management and the number of insurers whose commission statements must be reconciled.
| Scope | Monthly rent | One-time setup | Best for |
|---|---|---|---|
| Small agency (single insurer focus) | PKR 6,999 | PKR 22,000 | Up to a few thousand policies |
| Multi-insurer brokerage | PKR 9,999+ | Quoted | Multiple commission statements and products |
| Corporate agent with sales force | Quoted | Quoted | Agent hierarchy and commission sharing |
| Insurance accounting inside ERP | PKR 9,999 | PKR 25,000 | Groups already running XSoft.pk ERP |
Why premium and commission must be separated
When premium is booked as revenue, the agency appears profitable on paper while its bank balance falls, because most of that money belongs to the insurer. Separating the two — premium as a payable, commission as income — is the correction that makes the profit and loss statement meaningful.
The policy register enforces that separation by design: every receipt is tagged as premium collected on behalf of a named insurer, and only the commission portion posts to income. The insurer payable account then reflects exactly what is due for remittance at any point in time.
Renewals, claims and compliance
Renewal is where an agency earns or loses its year. The system generates a renewal list 60, 30 and 15 days before expiry, assigns it to the servicing agent, and tracks the outcome, so lapse rates become manageable rather than fatalistic.
Claims tracking keeps the client informed and the agency protected: intimation date, documents received, surveyor appointment, insurer decision and settlement amount are all recorded against the policy, which is also exactly the evidence needed if a complaint is raised later.
Frequently asked questions
What is insurance accounting software?
Insurance accounting software records premium collected on behalf of insurers as a liability, recognises only commission as income, and tracks receivables and payables by insurer, product and agent — which generic accounting software cannot do without manual adjustment.
How much does it cost in Pakistan?
XSoft.pk insurance accounting and policy management starts at PKR 6,999 per month with a PKR 22,000 setup for a small agency. Multi-insurer brokerages with complex commission statements are quoted from PKR 9,999 per month depending on policy volume.
Does it manage policy renewals automatically?
Yes. Renewal lists are generated at 60, 30 and 15 days before expiry, assigned to the servicing agent, and tracked to outcome with SMS or WhatsApp reminders to the client. Lapse rates and renewal conversion are reported per agent and product.
Can it track claims through settlement?
Yes. A claim record captures intimation date, documents, surveyor, insurer decision and settlement amount against the policy, giving both a client-service history and the evidence trail needed if a dispute is raised later.
Does it handle agent commission sharing?
Yes. Commission is calculated on the configured basis and split across agent hierarchies with sub-broker and referral shares. Payout statements and tax withholding are produced per agent for each settlement cycle.
Can it reconcile insurer commission statements?
Yes. Statements received from each insurer are compared against the policy register, and variances are listed for follow-up instead of being absorbed. That reconciliation is usually where agencies discover underpaid commission.
Related systems
- Insurance Management System
- Accounting Management System
- Financial Management System
- Crm Customer Relationship Mgmt
- Compliance Management System
- All Insurance Accounting & Policy Management Software options
Get a quotation
Call or WhatsApp 0334-4655700, email ali@xsoft.pk, or send an inquiry. You will receive a written quotation for the monthly rent and the one-time setup, plus a free demo before you commit.