Billing

A differentiator for your company

Billing as a Differentiator for Your Company

SurePower Innovation Billing is a powerful workflow and rules-based enterprise billing system. It gives you the tools to design payment and collection plans that meet your business needs. It enables you to configure the workflows and business rules that define and enforce best practices in your billing process, with the flexibility real-world billing requires. 

Billing as Customer Service

Billing is the most frequent touch point your company has with your customers. Done well, it can gain you new business, increase renewal rates, and shorten DSO/improve cash flow through increased customer responsiveness. SurePower Innovation provides you with the right platform and powerful flexibility to make billing a customer service differentiator for you. 

Flexible Payment Plans Capture New Business

Offering the right payment plan option can gain or keep a customer. SurePower Innovation enables you to define an unlimited number of payment plans. For example, you can set rules to offer a down payment in certain situations and spread the remainder across the term. You can change plans mid-term and reallocate payments due. You can allow overrides of standard pay plans. 

Cross-selling Opportunities

SurePower Innovation's 360-degree view of the customer/account, easy-to-change payment plans, and its multi-line billing capability can create cross-selling opportunities. 

Components

  • Insurance Premium Receivables
  • Collections

Functions

  • Invoice Production
  • Commission Processing
  • Refund Management
  • Cash, EFT/ACH, Credit Card, Lockbox Processing
  • Pending Cash Processing with Auto-clear Capability
  • Statement Clearing

Features

  • Direct Bill (single policy, customer account, third party)
  • Agency Bill (statement bill, open item)
  • Single Bill Across Multiple Lines
  • Production of Agent Statements at Different Levels of Detail
  • User-friendly Online Inquiries & Payments

Automation

  • New, Renewal, and Endorsement Billing
  • Automatic Cancel and Reinstate
  • Return Premium
  • Write-offs
  • Premium Additions and Returns Billing
  • NSF Processing, Fee Application
  • Rules-based Write-offs
  • Rules-based Return Premium Generation
  • Equity-based Cancellations
  • Auto Adjustments-Over/Under Payments
  • Balance Carry Forward on Renewal
  • Auto-tracking and Billing of Installment Fees
  • Collection of State Taxes & Fees

Reporting

SurePower Innovation provides all necessary reports to track non-admitted receivables and the balances in the outstanding receivable accounts. It provides a complete set of reports that can be tailored by data type, range and distribution. 

"The people at ISCS understand that technology is an enabler for Cornerstone. Anytime we have a business situation that we're trying to address, they understand that their function is to help us move forward and make life easier for both the company and our agents and create the efficiencies we need to be a successful company."

Roger Walker
COO
Cornerstone National Insurance Company

Contact ISCS