Real Time Availability of Data Across Policy, Billing and Insurance Accounting
Versatile Insurance Billing Options
Versatile Insurance Billing Function ideally suited for insurance specific Billing and Receivable management.
The Billing system comes with easily configurable payment plans, which can further be configured by LOB, premium thresholds and by State. It has options for Mortgagee billing and premium finance company billing.
Generation of bills is automated and can be distributed through many channels, including electronic delivery. Installment schedules auto adjust on premium bearing policy changes.
Cancel for Non-Pay can be based on Bill-due-date or Equity-date.
Insurance Accounting
The Insurance Accounting system has a full suite of Accounting functions. The financial account of a policy is maintained independent of policy coverage information, yet tightly linked to policy financial data, to provide transactional view for a fiscal period or policy terms.
The platform comes integrated with PII Compliant payment gateway options for both in-bound and out-bound payments.
Payment options include auto-pay and bank lockbox options.
Accounts Receivable and Payable Processing
The accounting system processes online payments through insurance focused and reputable partner payment gateways, which are fully PII Compliant.
The SimpleINSPIRE insurance accounting system has the ability to process premium refunds; both by check or refunded back to the original payment source. The system also has the ability to make agency commission payments by check or other secure online payment methods.
The double entry transaction model creates GL Journals and cash allocation at a very detailed level making it possible to easily create General Ledger Journals to interface to any Company GL system.
SimpleSolve’s ecosystem approach offers our clients 70+ game changing Insurtech products and services that provide unmatched ability to gain market leadership through innovative products thereby creating sustainable value.
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