The protections your industry requires
Insurtech Companies
Your insuretech business leverages technology to provide innovative insurance products and services to individual consumers, companies, or both. No matter which entities you serve, you likely operate as one or more leading-edge platforms.
As a result, you can offer several advantages over traditional insurance providers. You’re faster and more agile. You can give customers more efficient access to insurance products, lower premiums, and more personalized experiences. All the while, you might also enable companies in other industries (e.g., transportation, real estate) to offer insurance services to their customers.
To make all of this happen, your insurtech company probably utilizes a variety of business models, including peer-to-peer insurance, digital insurance marketplaces, and usage-based insurance. And to fine-tune it all, improving everything from risk management to fraud prevention, you might rely on data analytics and machine learning.
That means that beyond your insurtech company’s finance, marketing, and operations, you’ve hired for specialized roles like data scientists, risk analysts, and claims adjusters.
If you’re among the likes of Lemonade, Root Insurance, Metromile, Policygenius, and Oscar Health, you’re doing things differently. And that means you need an accountant who can help you thrive in your specific space.
Specialized accounting for your specialized work
Insurtech companies operate in a rapidly evolving industry with unique accounting considerations. Specifically, you need to think through:
Risk Management
Insurtech companies have to manage their risk exposure, which may involve complex actuarial calculations, reserving requirements, and reinsurance arrangements. But don’t stop there. You also need to account for these activities, which usually requires specialized knowledge of insurance accounting standards.
Regulatory compliance
Insurtech companies are subject to various regulations and standards, including (but by no means limited to) the National Association of Insurance Commissioners (NAIC) and state insurance departments. Compliance with these regulations can — and often does — impact accounting policies and procedures.
Claims processing
Factors like reserve development and catastrophic losses impact your claims processing and management. They also impact your accounting.
Insuretech needs to consider:

Bring in experts to bolster your expertise
In the world of insurtech, your company has a lot to consider, from financial reporting requirements to effective financial management. And you’re doing all of this in a landscape that’s changing faster than most people can keep up.
Fortunately, the right accounting team can step in to address all of the above and support your insurtech company where it needs it. To see what our insurtech specialists at ShayCPA can do for you, get in touch.
Case Study
Avibra
As a mission-driven insure-tech company Avibra provides tools and essential benefits to help everyday Americans reach their goals by democratizing essential benefits for everyone, regardless of employment status.
Insur-tech companies have to manage their risk exposure, which may involve complex actuarial calculations, reserving requirements, and reinsurance arrangements. So when Avibra was founded in 2018 as the first-of-its-kind B2B-C embedded benefits ecosystem founder Yogesh Shetty knew he would need an on-the-ball accounting firm to help manage that risk and ShayCPA has been working with Yogesh from day 1.
We have been assisting with:
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- Recording of Revenue that involves reconciling Insurance Premium Revenue and associated costs. Assisting with calculating Gross Margins.
- Managing workflows, including with Underwriters
- Preparing Financial Statements for use in Due Diligence and Board meetings
- Handling State by State Tax Compliance
- International Payroll Processing
“Akshay, Grace, and the entire team are one of the best out there, they perfectly managed all aspects of our operations that include finance, tax filing, payroll processing, board materials, etc. Highly recommended and a pleasure to work with them.”
Monthly Accounting Pricing
Quarterly
Starting at
- Reconcile Quickbooks Online (10 hours per Quarter)
- Cash-Based Bookkeeping
- Quarterly Video Review
- Chart of Accounts Template Provided
- Annual Meeting
Pre-Seed
Starting at
- Reconcile Quickbooks Online
Accrual Based Bookkeeping - Monthly Call
- Chart of Accounts Template Provide
A/P A/R Tracking By Client
Monthly
Starting at
- Reconcile Quickbooks Online
- Accrual Based Bookkeeping
- Monthly Call
- Customized Chart of Accounts
- Deferred Revenue Recognition
- A/P, A/R Tracking
- Inventory/COGS Reconciliation
- Financial Metrics
- Sales Tax Filings *
- Monthly Financials delivered by the 15th after month end
*up to one state included in sales tax
Series A & Beyond
Based On Your Needs
Custom Quote
(discount if billed annually)
- Reconcile Quickbooks Online
- Accrual Based Bookkeeping
- Monthly Calls and ongoing communication
- Customized Chart of Accounts
- Deferred Revenue Recognition
- A/P, A/R Tracking
- Inventory/COGS Reconciliation
- Board Financials and Metrics
- Sales Tax Filings
- Monthly Financials delivered based date requested
Additional Tax Services
State and local taxes (SALT)
Beyond the corporate taxes to which your company is subject, we also provide services for any state and local taxes that apply to your startup. For example, we work with many tech companies incorporated in Delaware and support them with their Delaware Annual Filings.
Cross-border taxes
If you work with international investors or you plan to expand abroad, our cross-border tax expertise can help you comply with the complex applicable tax regulations. We have experience working with companies that have connections in Lebanon, Canada, the UK, South America, and various EU nations.
Our Process
1
Step 1: Contact Us
Get in touch and we’ll reach out to you to schedule a video call to better understand your tech startups needs and prepare a custom quote.
2
Step 2: Onboarding
We’ll invite you to our secure client portal where you can use our easy to use onboarding checklist to get started. See general pricing guide here.
3
Step 3: Review
We schedule ongoing video calls with you to review your financials and ensure all of your tax compliance is taken care off.
If you’re ready to explore our tax services for tech startup C corporations, don’t hesitate to contact our team today.