CapSure Accounting Offers Enterprise Quality Captive Accounting to Managers with up to 150 Captive Insurance Companies

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CapSure Accounting Offers Enterprise Quality Captive Accounting to Managers with up to 150 Captive Insurance Companies

CapSure Accounting, an outsourced, scalable accounting system designed to manage the financial reporting complexities of captive insurance companies, announced today the capacity to support captive managers with up to 150 companies or more. The system helps firms simultaneously satisfy complex, international and domestic regulations, treasury management requirements and standard accounting practices – efficiently and profitably.

“Using CapSure Accounting frees captive managers to concentrate their efforts on business development, growth and customer service, rather than operational accounting,” said CapSure Accounting CEO David Kirkup. “As a result of CapSure Accounting’s tight back-office controls, management firms can delegate their accounting back-office with confidence.”

CapSure Accounting combines five years of captive insurance company operations and best practices with the scalability of high-end software to automate this specialized type of high-volume accounting.

“Before CapSure Accounting, the management firms overseeing the financial operations of captive insurance companies used off-the-shelf accounting packages – often QuickBooks - designed for small businesses,” said CapSure Accounting VP of Operations Chase Herring. “These packages lack the quality control, process standardization, review procedures and audit accountability that comes from using an SQL database in a production environment. CapSure Accounting executes all of this critical back-end work securely, delivering more accurate financial forecasts and tighter cost control.”

CapSure Accounting prepares the full complement of financial statements captive insurance companies require according to generally accepted accounting practices in the United States or any other domicile. Reports include:

  •     Statement of Financial Position
  •     Statement of Income
  •     Statement of Changes in Stockholder Equity
  •     Statement of Comprehensive Income
  •     Statement of Cash Flows
  •     Custom reports such as Surplus Analysis

In addition, CapSure Accounting facilitates audit requirements by generating pre-audit portfolio reports. To help captive managers make a confident decision, CapSure Accounting is transparent and offered on a per account basis, eliminating the need for large capital investments while benefiting from seriously good systems.

About CapSure Accounting
A joint venture between Burns & Herring, CPA and Captive Alternatives, an Atlanta-based risk consulting firm, CapSure Accounting was designed from the ground up to meet the specific financial requirements of firms managing up to 150 individual Insurance Captives, or what can be more inclusively termed Private Insurance Companies™. Principals from the two firms collaborated for more five years to create efficient accounting processes and systems, and adapt the scalable ERP software necessary to handle the complex accounting and tax needs of Private Insurance Companies. For more information, visit http://www.capsureaccounting.com or call 770-845-6897.

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Jen Kardian
Michael Mackenzie Communications
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