Automate and define the rules for routine tasks and ensure the tasks are managed appropriately. The smooth, efficient completion of tasks such as non-paid cancellations and reinstatements helps to improve service efforts and policyholder satisfaction.
As a standalone application, or as part of the Diamond Suite, Diamond Billing is flexible to accommodate real-time pay plan changes to multiple payment options.
Over 100 different options can be configured within the system’s pay plans including:
- Billing distribution (paper or electronic)
- Billing scheduling (monthly, quarterly, annually)
- Transaction-based billing options (endorsement changes, cancellation rules, reinstatement rules, fees, and more)
- Payment types or files (lock box or bank files)
Our analysts have years of experience and can help select the right payment options for you, your policyholders, and your accounting system.
Diamond Billing Insurer Benefits:
Increase Agent & Customer Satisfaction
Take advantage of a configurable design to satisfy your agents’ and policyholders’ distinct needs. Implement pay plans that work for your clients and allow them to make real-time pay plan changes mid-term to give them control of their payment options.
User-friendly Payment Options
Offer your agents and policyholders a wide variety of options for paying their bills, from mobile to web, credit card or EFT, checks, or cash.
Drive Business Decisions with Real-time Information
Accurate and easy-to-access information on the current amount due and future bills provides data your clients demand.
Diamond Billing Advanced Capabilities:
- Adapt and define pay plans quickly and easily
- Improve Billing Department operations
- Employ lockbox, EFT, and credit card payment options
- Define payment plans with a rules-based configuration tool
- Adjust transactions and payment postings in real time
- Support agency bill and direct bill
- Provide unlimited pay plan options
- Automate policy cancellations and reinstatements
- Realize lower total cost of ownership (TCO).
The Bottom Line:
Insurers want real information, right now. Policyholders want information at the press of a button. Deliver real-time self-service capabilities that satisfy your agents and policyholders’ desire to manage their coverage on their schedule.