pasBilling.Net is an insurance software solution that allows for fully automated billing, enabling you to manage all aspects of the billing cycle including, agency bill, direct bill, broker-bill, and MGA Payables. With pasBilling.Net you calculate commissions, process & manage installments, manage collection activities, create invoices & statements, and issue checks as needed.
As with all the software from Policy Administration Solutions Inc., pasBilling.Net is an online solution that provides data and processes information in real-time allowing you to make informed decisions based on current information. Being fully automated ensures that you can handle a large volume of clients while reducing human error that costs you both time and money. pasBilling.Net can be integrated with other PAS products as part of an end-to-end solution or it can be a standalone solution and integrate within your existing systems landscape.
Agency Bill
Managing money as it comes in is a major challenge for many insurance companies. With pasBilling.Net, you can process statements and/or invoices, followed by both manual and automated application of cash. Agents can remit cash using a spreadsheet that accompanies the statements or goes to the agent portal and pay their balances.
pasBilling.Net automates the entire process and supports all aspects of agency billing including:
Generation of statements
Remittance Excel
Aged trial balance reports
User-defined payment plans
Online, real-time, application of cash
Open item reconciliation
Automatic write-offs
Manual write-offs
Disbursements
Check Issuance and Reconciliation
Direct Bill
In addition to providing and automating the agency bill process to the extent possible, pasBilling.Net also automates direct bill. With direct bill, the client premium is paid directly to the insurance company who then sends the commissions to the insurance agency/broker. Direct bill is a very time-sensitive process, with timing regulations as it relates to invoicing, non-pay-cancellations, reminders, etc. that vary by state. pasBilling.Net automated that entire process, eliminating human error.
Direct bill with pasBilling.Net includes:
Automatic calculation of equity date
Automated invoices
Automated non-pay cancellations and reinstatements
Direct bill commissions on cash, written, earned, and installment basis
User-defined payment plans
Application of cash; Lockbox, Credit/Debit Card, ACH
Direct Bill Commissions
Another part of the direct bill process that is inefficient is the generation and payment of commissions to the agents/brokers. This is especially true if your company is handling a large volume of transactions with many different agents/brokers. pasBilling.Net allows for all commission payments to be calculated and paid automatically ensuring all payments are accurate and reducing human error.
Insured and Agents Portals
Allowing your clients to make payments and manage their policy and quote online allows you to collect premium payments easily and process them in real-time. Both the Insured and Agent portals allow clients to pay bills, view policy information, pay statements, run reports, and view the information in dashboards. As with all PAS products, this is done online, in real-time.
Learn More About pasBilling.Net
Policy Administration Solutions Inc. offers a full line of products designed to automate every step in the insurance process. If you are ready to fully automate your insurance company reach out here to get started or to request more information.
