BillingCenter manages premium billing and collection processes and agency commission payments across NFU Mutual’s motor, personal and commercial business lines, says Guidewire, adding that the system enables NFU to streamline the payment collection process, reduce manual activities and simplify premium reconciliation.
BillingCenter provides NFU Mutual with greater visibility of its billing processes and premium debt, streamlining administrative processes to improve audit control and enable NFU to reduce its auditing overhead, Guidewire adds. Also, NFU’s agency network has reported improvements in areas such as ability to collect premiums at the point of sale and more efficient reconciliation routines.
Following a successful pilot involving a group of NFU Mutual Agents, system implementation was phased in by region. The level of premium being processed by BillingCenter is set to increase significantly over the coming months as the system is rolled out to NFU Mutual’s corporate unit working with independent brokers, Guidewire says.
