Modern Billing Capabilities Insurers are looking to modern billing systems to help them meet the customer service challenge.


“Carriers are looking to implement flexible, configurable systems that allow them to configure and implement flexible payment plans and payment options very quickly.”


Martina Conlon, Novarica


As they strive to modernize their billing systems to meet the customer service challenge, carriers are focusing their attention on their processes for direct billing as well as agency billing. Another focus is account billing, in which the customer can receive one bill for multiple policies. Carriers are also interested in split billing, which allows one policy to be billed to multiple payers, such as a mortgagee for commercial property coverage and the policyholder for the liability coverage. Insurers are also looking for systems that support equity cancellation and automated rules and workflow to automate manual processes. Other features of interest are real- time calculation, recalculation and scheduling of accounts with advanced support for commission processing and automated data transfer between the carrier and collection agencies.


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