InsurePay: Reconciliation (Billing)

Overview

InsurePay is a North American leader in insurance payments technology that provides a suite of payment solutions including InsurePay Reconciliation, a service which enables producers to issue premium payments and to automate reporting to insurers.  This Anywhere Enabled Integration with InsurePay enables the insurer to receive premium payments and corresponding reconciliation data and to directly import this into Duck Creek Billing.

InsurePay is integrated into major agency management systems which enables the producer the ability to set the amount payable, payment date, and to electronically approve the payment to an insurer without leaving their agency management system.  InsurePay Reconciliation delivers remittance advice directly to Duck Creek Billing and transfers funds on the required date from the designated bank account of the producer to that of the insurer, both for monthly receivables and for one-time payments.

This integration eliminates the tedious process for an insurer of manually reconciling all producer payments while simultaneously reducing handling time and posting errors.  With this assurance of payment from producers, insurers can also improve their ability to forecast cash flows.

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Dependencies for Package

The following tools and packages are required for correct implementation of the package.

Installing the Package