Deployed in more than 40 countries. See EbixEvolution by market →

EbixEvolution

A full-function accounting engine behind every broking feature.

All of EbixEvolution's broking and underwriting features are backed by a full-function accounting system handling banking, settlements, journals, payments, and reconciliations, with an optional fully integrated multi-company, multi-currency General Ledger for a complete end-to-end view of financial performance.

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See reporting

the module, end to end

From banking to statutory reporting

Broker accounting fails when it is a second system. In EbixEvolution the accounting engine is written by the broking transactions, so the high level of interaction between broking functions and financial reporting is itself a management tool.

Banking, settlements, journals, payments

The common transactional processing of a brokerage, handled in the same system as the broking, so the financial position and the book agree.

Reconciliations

Bank, client, and insurer reconciliations from the accounting engine, with total financial visibility and accuracy.

Premium tracking and allocation

Premium tracked and allocated across sections, insurers, and parties, for the financial complexity typical of large brokerage operations.

Commission and brokerage management

Commission and brokerage by insurer, product, and line, calculated on every transaction.

Optional integrated General Ledger

A true multi-company, multi-currency General Ledger, implemented with or without the broking modules. Integrated, it generates insurer settlement cheques, client refunds, and statutory reports automatically.

Cash or accrual accounting

Daily, monthly, and annual closings, programmable or staggered, with pre-processing validations, and an accounting book with detailed and grouped records.

Full accounting controls and audit trails

System-maintained audit trails and full transaction history, with an Enquiry and Report module for transaction and balance level access.

Hierarchy by company, branch, or cost centre

Financial structure configured to the organisation, for groups with several entities and offices.

Ledger entries from the policy

Binding, endorsing, renewing, and cancelling raise the accounting entries. Nothing is journaled by hand to match a policy transaction.

Client ledger

Invoices, receipts, credits, and balances by client, with open items and ageing visible on the client file itself.

Insurer ledger

Premiums due to each insurer, net of commission, with settlements prepared from the ledger and reconciled against insurer statements.

Receipting

Client payments receipted against invoices, in full or in part, with unallocated cash tracked until it is applied.

Insurer settlements

Settlement runs by insurer and period, with the statement and the remittance produced from the same figures.

Commission and fees

Commission by insurer, class, and product, broker fees, and producer splits calculated on every transaction.

Multi-currency

Programmes invoiced, receipted, and settled in the currency each party works in, for corporate and international broking.

Automatic payment uploads

Payment files from your bank or card provider upload into Evolution automatically, negating the need for manual receipting.

Statutory and management reporting

Full control over the content and layout of management reports, with statutory reports produced from the General Ledger.

One connected flow to the ledger

Prospects, quotation, clients, policies, placing, and invoicing feed directly into sub-ledger and general ledger financial accounting, alongside claims management and time recording.

Day-end audit-trail reports

As part of the day-end process the system produces a full set of audit-trail reports covering all accounting transactions, with finance operation reports and management reporting on revenue and claims.

Electronic banking pay files

Automated electronic banking pay-file processing for insurer settlements, client refunds, and supplier payments.

Scheduled end-of-day and end-of-month

End-of-day and end-of-month runs scheduled rather than started by hand, with their reports produced as part of the run.

AI premium reconciliation, in production

The Ebix Integrated Reconciliation Service matches and posts broker payments without manual keying, with every posting auditable and a person in control. See AI for brokers.

Inside the module

Insurance technical accounting, the day-end reports, and the analysis views, as the accounts team uses them.

Insurance technical accounting

The client statement enquiry, the insurer settlement statement, and accounts receivable and payable across all billing types, on one connected accounting engine.

Client statement enquiry
Insurer settlement statement
Receivables and payables, all billing types

ebixevolution.com/accounting

EbixEvolution insurance technical accounting: client statement, insurer settlement, receivables and payables

The inbuilt system reports

Client detailed aged debtors, insurer and sub-agent outstanding balances, the invoice register, and the journal entry register, produced as part of the day-end run.

Aged debtors by client
Insurer and sub-agent outstanding balances
Invoice and journal entry registers

ebixevolution.com/reports/accounting

EbixEvolution insurance accounting reports

Income and receivables, any cut

Commission and fee income by insurer, class, and producer, and receivables by age, from the same ledger, built in DART and published to the dashboard.

Income by insurer and class
Receivables ageing
Producer splits

ebixevolution.com/dart

EbixEvolution Data Analytics Reporting Tool

Actual product screens, shown as configured and white-labeled for RedGram Wealth Management, an investment advisory firm running on Ebix Meridian. Your firm gets the same portal under your own brand.

Accounting that follows the market.

Client money rules, settlement conventions, and tax treatment differ between the United States, the United Kingdom, Australia, New Zealand, and Brazil. EbixEvolution is configured for each market by the Ebix team that delivers it there.

Market conventions built in

Client money, settlement, and tax handled the way each market expects.

Multi-currency where needed

Corporate and international programmes in the currency each party works in.

Exports to your finance system

Journals and statements out to the general ledger you already run.

What the accounts team stops doing

When the ledger is written by the policy transaction, a set of daily reconciliations simply stops being necessary.

Re-keying invoices

The invoice is raised when the policy binds.

Matching policies to journals

The journal is the policy transaction.

Building insurer statements by hand

Settlements come from the ledger for each insurer and period.

Answering balance enquiries

Service staff see the balance on the client file.

Bring last month's
insurer settlement

See how the same settlement is prepared, reconciled, and remitted on the platform.