Billing as a service

The Self Administered Bill (SAB) process is a highly labor intensive and error prone process in part due to an unstructured and unstandardized framework for Employers to submit their billing invoices.

  • Fragmented census data requires manually intensive scrubbing and validation by billing reps
  • Even when readily verifiable, the support must be modified to fit cleanly into HIG billing/revenue systems
  • Manual processes (for both customer and carrier) are error prone, inefficient, and costly.

  • 30%-50% of billing transactions require customer outreach.
  • Delays in reconciling and posting premium creates increased suspense balances which require additional time and effort to clear.
  • Delayed premium posting delays commission payments to brokers

  • LTD can be a problem area. Customer remittance based on benefit volume rather than the required salary volume can create ongoing underpayments of 40% or more.

  • Premium leakage (estimated in the 3-5% range) is difficult to identify and track, impacting loss ratios, pricing and profits.

  • The lack of a transparent, data-rich billing process limits the ability to provide support to other functional areas
  • Improved claim eligibility files
  • Accurate data for renewal underwriting
  • Accurate data for actuarial pricing analysis