First Internet Solutions LLC (FIS), a company that provides hosted Web-based property/casualty processing software, reports the addition of Account Bill to its equip product suite of tools.
The comprehensive, Web-based Account Bill application supports FIS’ equip Policy Processing application or can be integrated to existing legacy policy systems. The Account Bill application allows carriers to organize and maintain multiple policies across lines of business with different effective and expiration dates, making it easier for the insured to understand their billing statement.
Billing/Accounting Features and benefits:
• Automates the billing cycle
• Designed to accommodate flexible billing and payment plans
• Enables rapid integration with external accounting systems
• Supports single-policy, multiple-policy and split-policy billing
• Integrated search feature to policy processing system to find account numbers
• Easy online cash entry
• Ability to apply “Misapplied Cash” online
• Ability to apply “NSF”
• Ability to process Cash Reinstate transactions
• Interfaces to carriers accounting system for generation of refund checks
• Generate Bills/Notices
• Scheduled process can be immediate or set for nightly transactions
o E-mail notification of errors during process
o E-mail notification of successfully processed accounts
• Online Reports
o Accounting Register
o Cash Deposit
o Cash Disposition
The system automatically assigns the account number and establishes the account relationship in the policy processing system with default values of direct, insured, full pay and cash. These values are easily maintained in tables, and can be modified by an insurer’s accounting department.
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