Billing Module
Beyontec Suite’s Billing Module offers full billing related functionality including invoice generation, multiple installment plan options, premium collection, and delinquent premium account management. Automatic invoice collection using credit card, debit card, and ACH is also available.
Module Highlights
Each feature of the module provides the specific functionality needed to support your business – the way you to – giving you the independence and freedom to adapt to market trends and requirements with greater speed and agility.
Configure Payments Plans
Beyontec Suite provides insurers the ability to define installment pay plans.
Equity Billing
Beyontec Suite’s Billing Module leverages equity-based billing to help reduce billing leakage and eliminate unpaid coverage.
Paperless Billing
Beyontec Suite’s Billing Module enables automated, online invoice generation. Invoices are sent automatically to policyholders on a schedule defined by the insurer.
Premium Collection Channels
Beyontec Suite allows policyholders to pay premiums through the customer portal, kiosks, and mobile applications using credit and debit cards.
Support Multiple Installments
Beyontec Suite will automatically send invoices and payment reminders to policyholders based on insurer specific billing parameters.
Individual/Batch Collection Process
Beyontec Suite provides both individual and batch collection processes for quick and efficient premium recognition. Collection information is updated automatically in the respective customer accounts.
Automated Matching (Including Credits)
Beyontec Suite provides automatic matching of premiums to amounts outstanding. The hierarchy of premium distribution is configurable by insurer.
Multiple Payment Modes
Beyontec Suite’s Billing Module allows insurers to configure multiple payments methods including ACH, bank transfer, credit cards, and debit cards.
Excess Collection Adjustment
Beyontec Suite’s Billing Module allows insurers to determine the method through which excess collections will be adjusted against future installments.
Customer Centric Reconciliation
Beyontec Suite’s Billing Module tracks the entire billing process and provides complete, transactional histories for each policyholder.
Configure Product Based Payment Plan
Beyontec Suite allows billing parameters to be configured by product, providing convenient options and flexibility for policyholders.
