Professional Services
Best POS Systems for Insurance Agencies
Insurance agencies need payment solutions for premium collections, either on behalf of carriers or for agency-billed policies. The right system handles recurring payments, tracks policy information, and maintains proper documentation.
Common Challenges
•Premium collection compliance
•Monthly premium billing
•Multi-carrier policies
•Premium finance integration
•Client payment tracking
•Commission accounting
•Trust account requirements
Must-Have Features
- ✓Recurring billing
- ✓Professional invoicing
- ✓Client records
- ✓Payment documentation
- ✓ACH payments
- ✓Reporting
Nice-to-Have Features
- ○Agency management integration
- ○Premium finance partners
- ○Client portal
- ○Multi-policy tracking
- ○Trust account management
Top Picks for Best POS Systems for Insurance Agencies
Frequently Asked Questions
Can I collect premiums with regular payment processing?
For agency-billed policies, yes. For direct-billed policies, payments typically go to carriers. Check state regulations—some require premium trust accounts. Agency fees and service charges can use standard processing.
What about premium financing?
Work with premium finance companies (IPFS, AFCO) for clients financing premiums. They pay you directly after approval. This is separate from your payment processing for fees and agency-billed premiums.