Insurance Billing System

The Insurance Billing System (IBS) provides the ability to process and track all policy receivables and payables. Unlimited options for the timing and method of billing and collection of receivables are available through client- defined tables. All current and historical billing and payment information is available online.

The key features of IBS include:

• Direct bill (single policy and account) and agent bill (full pay and installment)
  
• Online invoice inquiry and reprint capabilities .Automated underpayment processing
  
• Equity and due-date cancellation processing .Postmark-date logic on cash received
  
• Refund check issuance and reconciliation
  
• Automatic billing fee assignment (e.g. installment, interim, NSF)

Direct bill features include:

• Insured or third party billing
  
• Invoices (interim, scheduled, lapsed) and reprint options
  
• Control of invoice generation for prior amount due or cancel status
  
• NSF processing options for new business down payment, renewal down payment, mid term installment payment
  
• Accept payment after policy lapse without reinstatement

Agency billing features include:

• Balance forward agent statements:
  
• Agent bill unallocated process to handle partially paid statements
  
• Preliminary statements (agent and direct) available for multiple runs during open month

Commission-accounting features include:

• Agent monthly statement
  
• Three levels of agency support
  
• Standard commissions by company, state, product, and effective date
  
• Individual agent or policy commission exceptions
  
• 1099 processing
  
• Commission based on billed, paid, or written by agent and line of business

Standard reports and forms include:

• Reports of cash batches
• Aged trial balance for direct, agent and client account bill