Billing And Insurance Accounting

A full-fledged double entry accounting system to manage all policy and claims related financial transactions
  • The Accounting module is a full-fledged double entry accounting system to manage all policy and claims related financial transactions. The system has insurance transactions related to GL Contra accounts maintained within the system, to manage financial transactions by fiscal year and/or by non-common policy terms.
  • Policy Premium Billing, including taxes and fees with customizable payment plans.
  • Reminder Notices, Cancellation Notices and Cancellation for non-payment of premium (CNPP) Processing can be based on invoice-due-date or premium equity-date.
  • The system has a reliable cash application module where payments and credits are applied to premium and charges. Allows preparing accurate journals of cash received / applied by GL Account.
  • Create electronic Journals or detailed extracts and interfaces to the Company General Ledger system.
  • The system does not allow editing of an in-place transaction. Corrections are permitted only through offsetting accounting transactions. Makes it a reliable and easily audit-able system.
  • Robust Balancing Process across reports and across modules. Foremost is the fact that policy, claims and accounts are in an integrated single database with data updates occurring in real time, which means reports are drawing data from the same source, eliminating the nightmare of balancing reports across modules (Policy, Accounts, Claims). 
  • Point-in-time Reporting: All reports including month end reports can be run at any time. No restrictions to run a particular report on a particular day (like Month End AR must be run on 1st day of month). Any report can be run for any past period and results will always be consistent on re-prints.
  • The system produces several Month End Reports for Accounting and Balancing.

Our truly Integrated,
Multi-Line Insurance Platform Comes With

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Policy
Management

Manage full policy lifecycle of transactions - Rate, Validate, Quote, Bind, Issue & Policy Changes

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BILLING & INSURANCE ACCOUNTING

A full-fledged double entry accounting system to manage all policy and claims related financial transactions

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CLAIMS
MANAGEMENT

Auto-Verify Policy coverage in real time. Manage reserves, loss payments & expenses at a claims feature level.

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CLIENT
MANAGEMENT

A powerful customer service feature. Locate policies and claims by people; Insureds, Addl Interests, Mortgagees, Claimants, Surveyors, etc.

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AGENCY
MANAGEMENT

Manage agencies including profiles to quote, bind & endorse polices. Also manage commission rates & payments

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INTERACTIVE
BOT

Tara the BOT is always aware of where you are in the application to assist and provide context relevant information.

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EFFICIENCY
TOOLS

Reduced Average Handling Time thru smart navigation, Integrated Email, Phone, Voice-To-Text & Real time data available to all modules

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BUSINESS
INTELLIGENCE

Analyze your key business performance indicators through standard and customizable BI Dashboards

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POLICY HOLDER SELF-SERVICE PORTAL

Policyholders can verify coverage, print policy docs, review claim status, review accounts & make payments

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PARTNER
INTERFACES

Application has several pre-built interfaces; Payment Gateway, Repl Cost Valuation, Ins Credit Scores, MVR, eSign, etc.

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ADJUSTERMATE MOBILE APP

A mobile app that brings easy mobility to field adjusters. Instantly get assessments & photos into the claims system

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SECURITY &
COMPLIANCE

Robust built-in security. Data in Transit is encrypted. VAPT & PCI complaint. OAuth/Single sign-on

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