Trust Account Management: Your Guide to Compliance and Control

Trust account management is non-negotiable in insurance. But,what if you get it wrong? Most insurance brokers face RIBO penalties. But, ifyou get it right? You would sleep better at night.

BRUTAL TRUTH #1: THE SEPARATION STRUGGLE
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Most brokers mix trust and operating funds accidentally. Not because they want to. Because manual processes fail them. When you're handling hundreds of transactions weekly, manual sorting becomes a game of chance. One misplaced entry can trigger a compliance nightmare.

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Common Separation Failures:

• Premium payments incorrectly routed

• Commission transfers poorly timed

• Operating expenses hitting trust accounts

• Reconciliation delays causing confusion

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BRUTAL TRUTH #2: THE TIME TRAP

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Still reconciling trust accounts manually? You're burning 100+ hours annually on something that could be automated. That's nearly half a months of productive time lost to:

• Daily transaction sorting

• Weekly reconciliation attempts

• Monthly compliance checks

• Quarterly audit preparation

• Year-end cleanup headaches

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BRUTAL TRUTH #3: THE COMPLIANCE RISK

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One misplaced transaction. That's all it takesto trigger a RIBO audit. The stakes are high:

• Regulatory penalties

• License risks

• Reputation damage

• Client trust erosion

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THE AUTOMATE ACCOUNTS SOLUTION

HERE'S WHAT CHANGES:

OLD WAY:
• Manual fund separation requiring constant attention
• Weekly reconciliation headaches taking hours
• Constant compliance worry and manual checks
• Audit preparation panic with last-minutes crambling
• Error-prone transaction classification
• Missing audit trails

NEW WAY:
• Automatic fund routing calculation with smartclassification
• Daily automated reconciliation with zeroeffort
• Built-in compliance checks running 24/7
• Always audit-ready with complete documentation
• AI-powered transaction categorization rules
• Digital audit trails for every action

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THE TECHNOLOGY BEHIND IT:

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‍- Smart Transaction Routing

‍Imagine every dollar automatically flowing to the right account. No thinking required. That's what we built. The system:

• Identifies transaction types instantly

• Routes entries based on predefined rules

• Prevents cross-account contamination

• Maintains perfect separation

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- Continuous Compliance Monitoring
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Like having a compliance officer working 24/7, minus the salary. Features include:

• Real-time RIBO requirement checks

• Automated balance monitoring

• Instant low balance and violation alerts

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‍- Real-Time Reconciliation

Our system:

• Matches transactions

• Flags discrepancies instantly

• Maintains running balances

• Creates reconciliation reports

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Want In? Email: hello@automateaccounts.com

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Three things we'll do:

- Review your current trust account setup and identify improvement areas
- Show you the automation in action with your real data
- Get you started in days, not weeks with our rapid implementation

Don't let trust account management keep you up at night. Join the brokers who've automated their way to perfect compliance.