The Trust Accounting Service manages your agency’s trust operations end to end, while leaving sales and service entirely in your hands. The scope is defined so responsibilities are clear from day one.
Types of service
The service is offered at three levels — from full outsourcing of your trust operations down to focused receivables support. Each level builds on the one before it.
01 / Complete
Complete Trust Accounting Management
- Receivables & bank deposits
- Commission income
- Company remittance
- Return-premium credit & refunds
- Direct-bill commission
- Personal funds
- Full reporting
- Production & commissions
- Financial solvency
02 / Commission
Commission Income Management
- Receivables & bank deposits
- Commission income
- Return-premium credit & refunds
- Reporting
- Production & commissions
03 / Receivables
Receivables & Bank Deposit Management
- Receivables & bank deposits
- Reporting
- Production
Scope of service
Within the service, Paulmar performs the daily work of your trust operation:
Processing & management
- Data entry
- Premium payments, including short payments and NSF checks
- Bank deposits
- Endorsements — AP, RP and cancellations
- Agency earned and lost commission
- Premium remittance to insurance carriers and general managing agents
- Return-premium credit and refunds
Monitoring & control
- Producer commission
- Direct-bill commission
- Personal (non-fiduciary) funds
Ongoing support
- Continuous source-document management support to agency personnel
- Continuous assistance to agency managers on the use of production and financial-solvency reports
Out of scope
Trust operations are deliberately separated from your sales and service business — that separation is what makes provable solvency possible. The following stay with your agency:
- Mailing of invoices to insureds (invoice delivery defaults to email)
- Receipt of premium payments — checks or cash
- Physical bank deposits
- Writing remittance checks to carriers or general agents
- Writing refund checks to insureds or premium-finance companies
Service fee
Structure
Per policy
A usage fee at policy inception, per policy term — priced by policy-management difficulty: annual, installment or financed premium, audit policies, endorsement volume.
Volume
Scalable
The fee scales with the number of policies your agency transacts during the month.
Technology
No NOBL charge
The fee equals the service provider’s labor cost — it includes no charge for the use of NOBL technology.
A minimal one-time fee applies for initial NOBL setup and onboarding.
Contact us for a scope and fee proposal tailored to your agency.