The IDIT™ Insurance Billing and Collection Module includes the handling and management of premium billing, collection and disbursements.
The premium can be collected and paid by various means such as electronic billing, direct debit, credit card, etc. Flexible installment plans can be set up to spread the premium equally in installments, or according to any other non-even algorithm.
The premium can be collected by direct billing or agency billing. Direct billing includes client and list billing capabilities. Agency commission is tracked and managed separately; the same applies to any co-insurance plans.
Returned premium, agent commissions and claim payments are all managed via a disbursement gateway.
Billing, Collection & Disbursements
IDIT™ system provides for
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Installment plans
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Agency & company billing
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Single & multiple installment billing
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Customer account management
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Cancellation process on non-payment of premium
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Non-payment dunning processing & procedures
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Full integration with CRM, document production, workflow & business intelligence
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Full support for returned premiums
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Full support for changes in payment arrangements
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Infrastructure/support for clearinghouse integration
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Payments of claims, commissions and any other type of outgoing payment
