Billing Systems - P&C / General Insurance
Insurers send out a lot of bills. It’s an expensive process not just in terms of the physical costs of printing, paper and postage: credit card fees can add up, and human beings are needed to answer questions, manage accounting, and oversee reconciliation. We track the main trends in billing and have profiled solutions dedicated to insurers.
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For many customers, the bill is the most frequent contact they have with their insurer. For many insurers, legacy billing systems simply don’t meet the challenge of high service expectations.
Consumers expect much more flexibility and transparency in how their bill is handled
What options are available to insurers?
Insurers certainly have the option of selecting a modern billing system that has robust capabilities to handle these kinds of situations. But an increasing number of insurers are questioning the overall costs of handling billing. Rather than replacing their billing system in order to provide new capabilities, they’re deciding to outsource the whole process.
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