The latest results of a survey find that property/casualty carriers overwhelmingly believe that billing impacts customer retention. Guidewire Software, a provider of core systems to property/casualty insurers, conducted its Billing Market Survey, the second since July 2008.
The Guidewire report holds that a majority of respondents have difficulty creating new bill plans, and more than one-third cannot bill multiples policies on a single invoice, which impacts their ability to serve their customers. The survey statistics also confirm the shift toward direct bill away from the traditional agency bill method.
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