A menu-driven module designed to aid carriers and administrators of group insurance. It supports complete maintenance of policy, enrollment, and information data to produce bills automatically and generate commission cheques and statements.
records of multiple companies, countries, and currencies
multiple policies with multiple billing units
complete data for groups, certificates, coverages, and dependents
multiple coverages per certificate and group
such subsidiary data as rates, reserve factors, and reinsurance rates, filed by plan or linked uniquely to coverages or a combination of both
certificate billing is available and duplicates all functions of the group billing cycle
fully retroactive billing calculations on the full census of policy holders, including refund of dividends
preview capabilities on all data and formats before printing
rebill capability to generate adjusted premium
list or summary bills, or accounting for administrative service only
automatic allocation of fully paid premiums; discretionary accommodation of partial payments, provision for lock box processing
multiple billing modes by coverage; annual, quarterly, monthly, etc.
ID cards and schedules of specific coverage for individual certificate holders
fully retroactive calculation and maintenance of producers commissions on premiums, both group and certificate
graded commission scales to reflect user driven duration of rates or capitation
grouping of commissions by coverage and/or group
override capability based on premium and commission even when commission not directly paid
maintenance of year-to-date statistics
calculation and printing of commission cheques and Form 1099s
enquiry and audit trails by effective date, policyholder, premium date, and coverage