Premiums in, claims out, nothing unaccounted
Track premium collection, commission splits, claims payouts, and carrier settlement on one ledger, across brokers, carriers, and reinsurers.
Premium money touches five hands before it settles
Broker, platform, carrier, reinsurer — everyone needs their exact share.
A single premium splits across commissions, taxes, carrier shares, and reinsurance cessions, then flows back out as claims and refunds months later. Tracked across bordereaux and spreadsheets, the money and the paperwork stop agreeing.
Premium splits — commission, tax, carrier share — are computed in spreadsheets per bordereau.
Client money and carrier money mix in the same accounts with no provable segregation.
Claims reserves and payouts are tracked separately from the premium that funds them.
Carrier and reinsurer settlement happens monthly, by hand, from exported CSVs.
_PROOF/ Insurance platforms run premium and claims flows on Formance, every split posted at collection.
From premium to claim, one chain
Split at collection, settled by schedule, claims from reserves.
Each premium splits at collection (commission, taxes, carrier share) into segregated accounts. Carrier settlement pays what the ledger holds, and claims draw from reserves with the full policy history attached.
See insurance on a live ledger.
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The primitives insurance platforms need
Built on the open-source Formance ledger.
Declarative premium splits, segregated client money, and scheduled carrier settlement, composed for insurance distribution.
Commissions, taxes, and carrier shares declared in Numscript and posted at collection: per product, per broker, per carrier.
split at collection
Read the Numscript docsPremium held for carriers stays in segregated account trees, provable at any timestamp for CASS-style reviews.
provable segregation
Reserves funded, adjusted, and drawn as ledger transactions linked to their policies; payouts trace to the premiums that funded them.
policy-linked claims
Bordereau-ready statements derived from the log, and settlement flows to carriers and reinsurers run on schedule.
bordereau from the log
Insurance-grade, by design
The premium splits itself
Commission, tax, and carrier share: one atomic posting.
A collected premium distributes across the platform commission, insurance premium tax, and the carrier's segregated account in a single Numscript transaction.
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Everything you need to evaluate and build on Formance.
Insurance flows, answered
01 / HOW ARE MID-TERM ADJUSTMENTS AND REFUNDS HANDLED?
Endorsements, cancellations, and refunds post as reversing transactions through the same split logic: every party's share adjusts atomically, with history intact.
02 / CAN SPLITS VARY BY PRODUCT AND CARRIER?
Yes: splits are declared per product, broker, and carrier. A new scheme or commission structure is configuration, not a code change.
03 / HOW DOES CARRIER SETTLEMENT WORK?
Carrier and reinsurer positions accrue in segregated accounts as premiums post. Settlement pays the derived balance on schedule, with a bordereau-ready statement from the log.
04 / WHAT ABOUT CLAIMS FUNDED ACROSS REINSURERS?
Reserves and cessions are attributed per treaty, so a claim draws proportionally and every reinsurer's exposure is a ledger fact.
Insurance money that stays accounted for
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