Billing for P&C
A Powerful and Scalable P&C Billing Platform
Market leaders understand billing is crucial to customer engagement and digital strategies, recognizing the growing demand for new payment methods, billing plans, access to real-time billing information, and electronic billing options, let alone on-the-spot adjustments due to unprecedented market shifts. Billing for P&C, the insurance industry leader in enterprise billing management, is a proven, scalable solution that helps companies address these demands through a flexible platform that provides rapid, quantifiable business results.
Superior Digital Experience
Achieve a new digital level of agent and customer access and self-service. Dynamic behind-the-scenes checks and balances give insurers safe, secure, and efficient control of electronic payments while enabling self-service capabilities for agents and insureds. Electronic Bill360 allows for multiple forms of payment digitally, including credit and debit cards.
Bill Type Flexibility
Billing for P&C contains flexible user-defined payment plans that offer a service charge and finance charge billing options and allow customers to determine their own payment due dates. Insurers can administer all bill types including, but not limited to, agency bill, direct bill, list bill, and deductible bill.
Ultimate Configuration Agility
Empower business and IT users with agility via unrivaled rules-based functionality and configuration tools that bring a new level of autonomy to the billing administration process. Business rules, payment plans, templates and forms are accessed through a modern architecture built on open standards.
Billing for P&C supports management and disbursement of agent compensation with a rules-based commission engine that manages flexible commission contracts and changes while providing details on incentives, commission plans and payments. The compensation manager also supports uploading commission rate tables, high-volume compensation processing, automating commission advances, chargebacks on policy events, and commission sharing/sacrificing and adjustments.
Powerful and Proven P&C Solutions
A market-leading, comprehensive, and advanced policy management system that provides full lifecycle processing capabilities for all lines of P&C insurance, including new innovative products.
Supports the entire claims process and settlement cycle with all-encompassing functionality including FNOL setup, claims setup, processing, fraud assessment, cat management, and settlement.
The Future of Billing for P&C Insurance
Quickly adapt to changing market and customer demands with highly configurable modules, services, and partners.
- Support all P&C lines of business for all billing types including Direct, Customer Account, Agency Statement, Agency Account Current, Wholesale, List/Payroll Deduction, Deductible Billing, and much more. Unrivaled rules-based functionality and configuration tools bring business agility and autonomy to business and IT users.
- Leverage our robust ecosystem of partners offering expanded capabilities, data, and services.
- Quickly serve your customers and ease financial hardships via automated processes to support leniency towards fees, late charges, and collections when the unexpected happens.
Advanced Electronic Billing and Payment Capabilities
Achieve a new digital level of agent and customer access and self-service with dynamic behind-the-scenes checks and balances to give insurers safe, secure, and efficient control of electronic payments.
- Leverage pre-built integrations for frictionless and secure ACH and Credit Card processing with payment gateways including Chase Paymentech, One Inc, and CyberSource from our partner ecosystem.
- Software-as-a-Service (SaaS), secure, self-service portal optimized for unparalleled customer experiences enables quick access to real-time billing information and payments.
- Support multiple payment options, including guest payment, one-time payment, and automatic recurring payments to meet customer expectations.
Unrivaled Reporting and Analytics
Pre-configured mapping of metadata, standard reports, and dashboards provides quick-to-value, cost-effective business intelligence, along with dashboards and reporting tools.
- Pre-integration with EDW and Business Analytics makes data more accessible and usable for exceptional customer service.
- Increase visibility and generate best-practice reports for trend analysis and market refocusing.
- Improve cash flow and provide an accurate picture of accounts receivable with a special focus on problem accounts.
At the Center of Growth and Innovation
Chips. Who knew they could be such disruptors? As COVID impacted supply lines throughout the world, it was the manufacturing and supply of computer chips that seemed to cause the most disruption. Everything from PlayStations to pickup trucks were placed on wait lists — parked in anticipation of necessary microprocessors and controller boards. The fallout…
The configuration tools bring a new level of autonomy, flexibility, and speed to the billing management operation. Changes that previously took weeks or months can now be configured and implemented in hours.
With Billing for P&C, carriers can be confident they are supporting innovation that is necessary to not only stay relevant but also reposition them as market leaders who continuously respond to meet customers’ shifting needs when they need it most.
An enterprise billing chassis provides the configurability and flexibility needed to respond to the requirements of innovative new products, services, and payment methods and it answers the need for customer service capabilities that will pay off in customer engagement, loyalty, and retention.