Billing

Billing is more than just an invoice.

Billing is one of the most visible interactions you have with your customers. Your billing system should help you create a favorable customer experience, in addition to a positive cash flow.

Fast, flexible, fully-integrated.

Fast.

Timely billing ensures a steady cash flow. With Instec, you can automate workflows to schedule invoices, and define rules to automatically apply incoming payments.

Flexible.

Your customers want choices and so do you. Instec billing supports direct and agency billing, account billing and statement billing, and lockbox, EFT, or credit card payments.

Integrated.

Your policy system already contains client details and renewal dates, so why re-enter that data? Instec Billing is fully integrated with our policy system, so billing is efficient.

Proven.

When it comes to billing, there’s no “one size fits all”. You need a billing system built for insurance. Instec Billing was conceived, developed, and tested by insurers, for insurers.

"Today's insurers and MGAs are focused on business capabilities and time to market, more than pure architecture. Partnering with an innovative carrier like PLM is a really unique way to come to market with billing capabilities."

Karen Furtado Partner | Strategy Meets Action

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Billing for the full policy lifecycle.

Instec Billing comes with the same flexibility and rapid implementation as our policy system. Self-configuration allows you to customize the system to fit your business, and highly-automated workflows reflect a low-touch approach that maximizes efficiency.

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Full-Featured Billing Instec Billing supports a wide range of payment plans, billing methods, and commission options, including direct bill, and the ability to configure installment plans.

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Data Accessibility Easy access to the data you need to manage your book of business, with numerous reports available out-of-the-box, including receivable aging reports, outstanding balances, and accounts in collection.

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Self-Service Configuration Change payment plans or payment application rules for your custom products and programs, schedule invoices to meet your client’s needs, and add your company logo to generate branded invoices.

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Fully Integrated Fully integrated with Instec Policy, Instec Billing supports transactions throughout the policy lifecycle, and like Instec Policy, is cloud-based, so no new infrastructure is required.