EIS BillingCore® has been named a Technology Standout in Celent’s latest billing systems report for property and casualty insurance for P&C in North America. The recognition highlights strengths in flexibility, integration, and adaptability that help insurers respond to changing business requirements.
For P&C carriers evaluating billing technology, those qualities have practical consequences. A new payment option, a different billing schedule, or a change to a customer’s policy all depend on how readily the system can support the business.
“EIS earned a Technology Standout designation in Celent’s latest billing systems report based on our evaluation of its technology architecture, functionality, and ability to support the evolving needs of insurers”, said Karlyn Carnahan, executive partner at Celent, a global research and advisory firm for the financial services industry. “As carriers look to modernize their billing operations, flexibility, integration capabilities, and the ability to adapt to changing business requirements are increasingly important. EIS demonstrated strengths in these areas, contributing to its recognition as a Technology Standout.”
Insurers Get More Control Over Billing
Insurers need room to shape billing around their products and customers. BillingCore supports multiple billing modes and payment methods, with automated, semi-automated, and manual invoicing at frequencies including monthly, quarterly, and annually. Carriers can also configure automated notices, refunds, and tolerance checks to manage delinquencies and exceptions.
[Explore BillingCore’s capabilities.]
That flexibility gives billing teams options for handling routine transactions and the cases that need attention. A payment suspension, for example, calls for a different response from a scheduled invoice. Both belong within a billing operation that gives people control over how work progresses.
Seamlessly Connect Billing to the Systems Around It
Billing depends on information and transactions that cross system boundaries. Policy changes affect amounts due, payments that need to be reconciled, and service teams need visibility into what’s happened to explain it to customers.
BillingCore can work alongside EIS OneSuite™ or other core systems. Integration with EIS PolicyCore® or a third-party policy administration system supports alignment between billing and policy requirements.
For carriers planning modernization, this provides an option to introduce BillingCore within their existing technology environment, with integration forming part of the approach from the outset.
Financial Activity Becomes Easier to Manage
Billing teams also need a clear view of transactions and a way to investigate discrepancies. Payment Hub within BillingCore brings inbound and outbound payments across policy, claims, and billing into a unified view. Its self-service reconciliation capabilities support analysis of payments, refunds, adjustments, and other transactions.
See the BillingCore product overview.
These capabilities support the daily work behind the customer experience: understanding an account, reconciling a payment, and identifying an exception that needs action.
EIS is pleased to receive Celent’s Technology Standout designation, and for insurers considering their next billing investment, we welcome the opportunity to demonstrate how BillingCore handles their specific requirements.
