The process cost accounting, as an innovative advancement of the classical tools of cost accounting, was originally developed for the overhead areas of manufacturing companies. However, is it equally applicable in service companies, whose processes are often not as rigid? This fundamental question will be explored in this work by examining the core process of an insurance broker, namely the provision of insurance coverage - a classic service. Additionally, the applicability of process cost accounting for insurance brokers will also be considered from an economic perspective. If theoretical applicability is possible, in which areas would it actually provide additional practical benefits and be economically sensible? This work is aimed at insurance brokers and all other insurance intermediary institutions, as well as insurers themselves, decision-makers in service companies of all kinds, and economists.