With the impacts from COVID-19 still emerging, businesses are monitoring the global response, including government mandates and even competitor reactions. Indeed, in the United States, some states are already considering (or have enacted) compliance measures, requiring insurance providers to pause cancellation of coverage due to non-payment of policy premiums. Earlier this week, one Duck Creek customer took proactive steps toward assisting policyholders by voluntarily implementing a pause in their non-pay cancellations.
To offer a measure of support to our customers and with these same ends in mind, this week Duck Creek released a new Duck Creek Billing feature to our Content Exchange, which streamlines the process for holding follow-up activities for a collection of bill accounts. The Manage Hold Events feature on the Duck Creek Content Exchange provides application pages through which authorized Billing users may add bill accounts to a specified billing hold event (e.g., “COVID-19 March Hold Account Follow-up”). Using the provided workflow, Billing identifies the affected bill accounts by demographic data held in Duck Creek Party, like city, state, or postal code. Once a bill account is added to the hold event, no further follow-up activities will be evaluated until the end of the hold period; this includes non-pay cancellation evaluation, late charge assessment, and issuance of reminder notices. The product extension is available for free download by any Duck Billing customer, and installation documentation is included.
Although most Duck Creek Billing users are already aware of existing capabilities, which may prove useful during this period as you respond to customer requests, we’ve summarized some of these features, below, by customer request type:
- Push out a single due date or EFT draft
- Move an installment due date on the Installment Schedule page
- Reschedule a pending EFT draft on the EFT Maintenance page
- Provide custom payment plans/terms
- Redistribute one or more billing items across any number of installments on the Installment Redistribution page
- Pause follow-up until a future date
- Add a single bill account to the hold event on the Hold Activity page within the bill account
- Rescind non-pay cancellation from the Policy Term Summary page
As always, if we can assist you during this time of need, please contact your dedicated Support Representative, who can coordinate the appropriate resources across Duck Creek.